Economy
Nigeria’s GDP Grows 1.94% in Q2 2019
By Dipo Olowookere
In the second quarter of 2019, the Gross Domestic Product (GDP) of Nigeria recorded a year-on-year growth of 1.94 percent in real terms. This is according to data released on Tuesday morning by the National Bureau of Statistics (NBS).
In the GDP figures of the stats office, the Q2 2019 growth was higher than the 1.50 percent rise achieved in the second quarter of 2018, indicating increase of 0.44 percentage points.
According to the NBS, when compared to 2.10 percent (revised from 2.01 percent due to oil output revisions) recorded in the first quarter of 2019, however, the Q2 2019 real growth rate indicates a decline of 0.16 percentage points.
It was further stated that during the quarter, aggregate GDP stood at N34.944 trillion in nominal terms, an increase of 13.83 percent over the performance in the second quarter of 2018 and 9.8 percent over the preceding quarter.
The performance observed in Q2 2019 follows an equally strong first quarter performance, and was likely aided by stability in oil output as well as the successful political transition.
Overall, a total of 15 activities grew faster in Q2 2019 relative to last year, while 13 activities had higher growth rates relative to the preceding quarter.
On a half year basis, real growth in the first half of 2019 stood at 2.02 percent, higher than in 2018 which was 1.69 percent. Quarter on quarter, real GDP increased by 2.85 percent compared with a decline of 13.69 percent in the preceding period.
Business Post reports that in the second quarter of this year, the oil sector posted a real growth rate of 5.15 percent year-on-year in Q2 2019, representing a 9.10 percent points increase relative to the rate recorded in the corresponding quarter of 2018. It also indicates an increase of 6.61 percent points when compared with Q1 2019(revised). Quarter-on-Quarter, the oil sector recorded a growth rate of 1.55 percent in Q2 2019. The sector contributed 8.82 percent to total real GDP in Q2 2019, up from levels recorded in the corresponding period of 2018 but down compared to the preceding quarter.
In Q2 2019, Nigeria recorded average daily oil production of 1.98 million barrels per day (mbpd), or 7.6 percent higher than the daily average production of 1.84mbpd recorded in the same quarter of 2018 but slightly less than output recorded in Q1 2019 (1.99mbpd (revised from 1.96 mbpd).
On the other hand, the non-oil sector grew by 1.64 percent in real terms during the reference quarter. This was 0.40 percent points lower than recorded in the same quarter of 2018, and 0.83% point lower than the first quarter of 2019.
During the quarter, the sector was driven mainly by information and communication, mining and quarrying, agriculture, transportation and storage, as well as other services.
In real terms, the non-oil sector contributed 91.18 percent to the nation’s GDP, lower than the share recorded in the second quarter of 2018 (91.45 percent) but higher than the first quarter of 2019, which stood at 90.78 percent.
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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