Economy
Nigeria Will Get Out Of Recession March 2017—Dangote
By Modupe Gbadeyanka
President/Chief Executive Officer of Dangote Group, Mr Aliko Dangote, has predicted that Nigeria will be out of its present economic recession “at about the first quarter of next year.”
The Africa’s richest man believes Nigeria has all it takes to bounce back, pointing out that the private sector in the country was huge.
Mr Dangote made these comments on Monday when he hosted staff, participants and some members of alumni of Lagos Business School (LBS) at his Dangote Refinery in the Lekki Free Trade Zone, Lagos.
The business mogul, who delivered a lecture titled ‘The Role of Business in Driving Sustainable Development in Africa-The Story of Dangote Group’, said the country must pay serious attention to agriculture in order to reduce importation.
Nigeria currently depends of foods from other nations to feed its citizens. This has weakened the Naira in the foreign exchange market. Most Nigerians also have confidence in imported goods, neglecting its locally made goods.
At Monday’s event, Mr Dangote stressed the role of businesses in the acceleration of the Nigerian and African economy.
He submitted that, “I personally believe we will be out of recession at about the first quarter of next year, Nigeria has what it takes, and the private sector is huge in Nigeria. The government should not focus on any business what the government should focus on, is tax collection.”
“Today in Nigeria we have 60 percent more arable land than in China, yet most of what we consume we are importing, we must drastically change and diversify the economy if not we will be in trouble. We are the only African country that is not self-sufficient, we need to focus and move into agriculture,” he said.
During the occasion, which ended with a question and answer session with Mr Dangote, the guests were given a guided tour of the ongoing construction of the $12 billion Dangote refinery grounds which includes a petrochemical project, gas pipeline project and a fertilizer project.
Dr Henrietta Onwuegbuzie, LBS Entrepreneurship Faculty, who facilitated the visit to the refinery, said the purpose of the visit was to inspire participants and allow them see how they can also contribute to the growth of Nigeria.
“I believe the visit has a powerful effect in terms of inspiring the participants, for me it is important we develop impact driven executives, entrepreneurs and business owners; this is one way of getting them really inspired by seeing how they can contribute to accelerating the development of Nigeria” she said.
Participants in attendance were extremely grateful for the opportunity and very pleased with the knowledge they received.
Ify Ukachukwu, Executive Director, Rexons Industries Limited (OMP 22) said “the visit was very gratifying, I am happy I got the opportunity to learn about the importance of the manufacturing industry from Dangote, especially with the current economic situation of Nigeria.”
For Jeffery Olaleye, CEO, Frame Engineering (EMBA 18) the visit allowed him realise that there are various business opportunities which entrepreneurs can tap into.
“It is a bundle of knowledge and investment, this visit enabled me to understand the importance of diversification, it has also opened my eyes to a lot of opportunities which I will like to tap into,” he said.
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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