Economy
Nigerian Economy Now in Tatters—PDP Governors
By Dipo Olowookere
Governors elected on the platform of the Peoples Democratic Party (PDP), the main opposition party, have accused the All Progressives Congress (APC) led federal government of wrecking the Nigerian economy and turning the country “into a killing field.”
On Monday, the opposition governors met in Bauchi State to discuss the state of the economy and security in the country. The gathering was chaired by the Governor of Sokoto State, Mr Aminu Tambuwal.
At the end of deliberations, a communique was issued at the Governors blamed the administration of President Muhammadu Buhari for leaving the nation’s economy in tatters.
They said the government has not done enough to attract foreign direct investments (FDIs) as policies put in place have always discouraged foreign investors from Nigeria.
“Government should stop paying lip service on the Ease of Doing Business, as foreign direct investments have continued to fall partly due to obstacles placed on foreign companies wishing to invest in Nigeria.
“A glaring example is that of Facebook who insisted on investing in Nigeria rather than Ghana, and is being frustrated by regulatory authorities,” a part of the communique read by Mr Tambuwal stated.
To address this issue and others, the opposition governors advised the national government to join forces with the state governments.
“On the economy, the meeting admonished the APC federal government to collaborate more with state governments to stem the unemployment scourge affecting the youths of Nigeria, through technology and increased production in all fields of endeavour,” they said.
In addition, they want President Buhari to urgently tackle banditry and terrorism in the country, emphasising that these have not in any way helped the economy.
“On the security of lives and properties, in addition to our earlier recommendations, it is time to bring the activities of bandits, kidnappers and terrorists to an end, through increased use of military equipment, traditional means of conflict resolution and technology for surveillance and the development of the political will to flush them out.
“Kidnapping, banditry and terrorism are not business ventures as claimed by the APC but heinous state crimes that is destroying the Nigerian economy, the educational and social future of our children and causing significant social upheavals in society,” the PDP Governors admonished.
They also called on the Nigerian National Petroleum Corporation (NNPC) and other revenue-generating agencies to “strictly abide by the Constitution by remitting all their revenue less cost of production into the federation account as provided for by S.162 of the Constitution.”
On politics, the opposition governors berated Mr Buhari for turning the State House into the headquarters of the APC, where he receives decamping members of the PDP. They want him to focus on governance and restore the past glory of Nigeria.
Present at the meeting on Monday were Mr Tambuwal; Governor of Abia State, Mr Okezie Ikpeazu; Governor of Akwa Ibom State, Mr Udom Emmanuel; Governor of Bayelsa State, Mr Douye Diri; Governor of Benue State, Mr Samuel Ortom; and Governor of Delta State, Mr Ifeanyi Okowa.
Others were the Governor of Enugu State, Mr Ifeanyi Ugwuanyi; Governor of Rivers State, Mr Nyesom Wike; Governor of Oyo State, Mr Seyi Makinde; Governor of Adamawa State, Mr Ahmadu Umaru Fintiri; Governor of Edo State, Mr Godwin Obaseki; Governor of Bauchi State, Mr Bala Mohammed; Governor of Taraba State, Mr Darius Ishaku; and Deputy Governor of Zamfara State, Mr Mahdi Mohd.
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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