Economy
Nigeria, Cuba Partner on Agriculture Technology Development
By Adedapo Adesanya
Nigeria and Cuba have signed a Memorandum of Understanding (MoU) on food security and agriculture advancement on the sidelines of the G77 + China Leaders’ Summit, which concluded in the North American country on Sunday.
Business Post had reported that the Vice President, Mr Kashim Shettima, represented President Bola Tinubu at the programme. He travelled to Cuba with the Minister of Agriculture and Food Security, Mr Abubakar Kyari, who signed the MoU alongside his counterpart from the Ministry of Agriculture of Cuba, Mr Ydael Jesus Perez Brito.
The Expression of Interest (EOI) is a historic journey to strengthen the ties between Nigeria and Cuba in the field of agriculture, capitalising on Nigeria’s Nigeria’s demographic advantage, vast land resources, and agricultural potential while promoting President Bola Ahmed Tinubu’s vision for food and nutrition security.
Key areas of cooperation include veterinary medicine, vaccine development, artificial insemination, and the development of pastures and ranching as essential components in curbing the challenges posed by inefficient open grazing of cattle.
Others are training, capacity building, and knowledge transfer as the cornerstone of any thriving agricultural economy.
Mr Kyari lauded the willingness of Cuba’s government to partner with Nigeria, noting both countries share a common vision for their people and shared insights into Nigeria’s pressing food and agricultural opportunities and challenges.
“It was in this spirit that the Ministry of Agriculture and Rural Development evolved into the Ministry of Agriculture and Food Security,” he said.
Mr Kyari extended a hand of partnership to his Cuban counterparts with a focus on vital areas such as bio-fortification of agricultural produce, improvement of agricultural seeds and seedlings, agricultural mechanization, cutting-edge technologies for increased yields, and the reduction of post-harvest losses.
The Minister also said that “Nigeria is keenly interested in collaborating with Cuba in the domains of poultry, livestock, and fisheries.”
In his own remarks, Cuba’s Minister of Agriculture told the Nigerian delegation about the island nation’s agricultural prowess, admitting that the country has “over 500,000 hectares under cultivation” and remains “a global player in the export of tobacco, coffee, honey, and other commodities.”
Mr Brito expressed delight at the opportunity to partner with Nigeria, stating that his country would provide impactful cooperation in identified areas contained in the MoU.
The host Minister highlighted Cuba’s agricultural and human capital and different models of practices that have raised its productivity.
He also explained that his country would deploy its wealth of experience to help Nigeria achieve its agriculture and food security policies.
If actualised, Nigeria will benefit from Cuba’s agriculture capacity in areas such as bilateral relationships encompassing agricultural productivity, sustainability, knowledge sharing, and technology transfer.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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