Economy
Nigeria, Others May Lose $500bn Yearly to Climate Change—Report
By Aduragbemi Omiyale
There are fears that Nigeria and other developing countries across the globe could lose as much as $500 billion per year to natural disaster damages triggered by climate change by 2050 if urgent steps are not taken to avert this.
In a Fair Tech Institute whitepaper released by Access Partnership, a leading global public policy firm for the technology sector, it was stated that currently, the agricultural sector of the economies of these nations has lost about $108 billion to natural disasters through damaged crops and livestock production.
As a result, the paper is advising governments and the private sector to quickly leverage satellite technology for more effective disaster management efforts in Africa and globally.
According to the whitepaper, this increased frequency of natural disasters is set to overwhelm National Emergency Telecommunications Plans (NETPs) and terrestrial service providers currently in place to minimise and mitigate the human and economic cost of adverse weather events.
“Putting in place satellite services and next-generation satellite-enabled connectivity can mean the difference between saving millions of lives and losing them,” says Ivan Suarez, senior policy manager at Access Partnership, adding that this move can also reduce government expenditure during and post-disaster.
Providing unique data, the document forecasts the economic impact and future burden countries will face if disaster communications planning is not taken seriously. “The impact of natural disasters will be concentrated among low- and middle-income countries, which are relatively less prepared to adapt,” adds Suarez.
To reduce the socioeconomic impact of climate-related disasters, governments are encouraged to increase investment in physical and social infrastructure and allow for the upscaling and acceleration of far-reaching, transformational adaptation strategies. This includes the effective use of satellite networks and next-generation satellite technology.
“As shown by this study, we need a concerted effort to fix the underlying inefficiencies of our current, existing communication systems. The paper highlights that the availability of communication networks is directly related to the ability to respond quickly to emergencies,” Suarez concludes.
The whitepaper emphasises the need for the development of emergency telecommunication plans (NETPs) given the crucial role telecoms can play in saving lives and protecting communities when disasters strike.
Considering their unpreparedness to bear the financial costs and the need to protect human lives, collaborative efforts between governments and the private sector are urgently needed to maintain adequate NETPs.
This whitepaper is coming after organisations like the Intergovernmental Panel on Climate Change, the International Monetary Fund (IMF), the World Bank, Vision of Humanity and the World Meteorological Organization (WMO) all agree that weather-related disasters are likely to become more frequent and widespread in coming years, thanks to climate change.
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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