Economy
Nigeria Loses N100bn Yearly to Poor Cocoa Policy—Lawmaker
By Aduragbemi Omiyale
A lawmaker at the lower chamber of the National Assembly, Mr Ademorin Aliu Kuye, has lamented that Nigeria loses about N100 billion yearly to poor cocoa policy in the country.
To address this issue, the House of Representatives member has moved a motion to review of existing laws to help reposition the nation as the largest producer of cocoa in Africa.
While presenting the motion on Tuesday during plenary, he said the huge amount is lost due to the federal government’s non-commitment to find sustainable, executable solutions to problems bedevilling the sector.
He informed his colleagues that Nigeria was once a major player in cocoa production, being the second-largest producer in the world with 450,000 tons, and that the sale of cocoa was Nigeria’s major source of foreign exchange earnings in the 1950s and 1960s before the discovery of crude oil in commercial quantity in the 1970s.
But in the 1990s, the Nigerian cocoa market crashed, with production declining to 170,000 tons as a result of the Structural Adjustment Programme (SAP) of the International Monetary Fund (IMF) implemented by the government in the late 1980s, which included the dissolution of the Cocoa Marketing Board to liberalise cocoa marketing trade and allow improved cocoa output and pricing.
According to him, the National Cocoa Development Committee, established in December 1999 by the administration of Mr Olusegun Obasanjo was tasked to improve cocoa quality and increase production from 170,000 tons to 300,000 tons and 600,000 tons per annum in the short and long term respectively.
He expressed concerns that the unregulated and liberalized cocoa industry was depriving cocoa farmers of yearly revenues as they are unable to collect the Living Income Differential (LID) of $400 per tonne paid to cocoa farmers in other countries like Ghana and Cote d’Ivoire, apart from the cocoa floor prices that are paid by world cocoa buyers.
Mr Kuye also lamented that despite the availability of arable land and climate to sustain cocoa production in Nigeria, Nigeria has fallen down the line in the pecking order in Africa and the world respectively and despite the cyclical ambivalence of oil, the country’s major foreign exchange earner, the federal government has been unable to look into cocoa which is a potential growth sector that could serve as a buffer during periods of oil-induced recessions.
After moving his motion, the House, which was presided over by the Speaker, Mr Femi Gbajabiamila, passed a resolution to review the country’s cocoa production policy.
It also mandated its Committee on Agricultural Production and Services to begin the process of the review in liaison with the Federal Ministry of Agriculture and Rural Development and report back to the floor within four weeks.
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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