Economy
Nigeria’s GDP to Record 2.44% Growth in Q4 2018—FSDH
By Dipo Olowookere
A Lagos-based investment firm, FSDH Research, has projected that the Gross Domestic Product (GDP) of Nigeria will increase by 2.44 percent or N19.05 trillion in the fourth quarter of 2018.
In the third quarter of this year, according to the National Bureau of Statistics (NBS), grew by 1.81 percent.
In its report, FSDH Research said though the Q3 2018 GDP figures showed that the Nigerian economy gathered more momentum than in Q2 2018 and in the corresponding period of Q3 2017, the real GDP growth rate still remains sluggish, lower than the population growth rate in the country of about 2.75 percent (according to the figure from the International Monetary Fund).
It said the three largest sectors of the economy, which account for 56 percent of the total GDP, recorded positive growth rates in Q3 2018, while the other dominant sectors of the economy which contracted during the quarter recorded lower contractions than were recorded in Q2 2018.
‘Financial Institutions and Insurance’ is the only sector among the top ten biggest sectors that moved from growth in Q2 2018 to contraction in Q3 2018. The Q3 GDP numbers show that additional policies are required for the Nigerian economy to achieve and sustain strong growth that could create jobs.
The driver of the GDP growth rate in Q3 was the Non-Oil sector of the economy which expanded by 2.32 percent in Q3, higher than 2.05 percent in Q2 2018.
‘Information and Communication’ was the largest contributor to the GDP growth rate in Q3 2018 and despite the double-digit growth rate recorded in ‘Information and Communication,’ the World Economic Forum (WEF) rates Nigeria low in its Information and Communication Technology adoption in The Global Competitiveness Report 2018.
FSDH Research said it believes this is an indication of huge untapped opportunities within the sector, pointing out that policies are needed that could create an enabling environment for this sector to thrive.
The Oil sector of the Nigerian economy entered a recession in Q3 2018 following two consecutive quarters of contraction. FSDH Research notes, however, that the contraction in the sector moderated in Q3 2018 compared with the contraction recorded in Q2 2018.
Anecdotal evidence shows that Nigeria was not able to sell some of its crude oil in Q3 2018. Subsequently, crude oil production was reduced in addition to other technical challenges the industry faced. Nigerian economic managers need to engage in high-level international negotiations with crude oil buyers on a global scale to guarantee a market for Nigerian crude oil.
The fact that the Real Estate sector is still in economic depression is of concern to FSDH Research. Real Estate is a labour-intensive sector, which provides job opportunities for different categories of labour: unskilled, semi-skilled and highly skilled. Strong economic activities that propel growth in the Real Estate sector could employ many unemployed Nigerians, which would help to address the high unemployment level in the country.
In addition, the sector has a multiplier effect on other sectors of the economy such as manufacturing (cement production) and construction. Improved activities in the Real Estate sector could improve the standard of living through the provision of quality and affordable housing for Nigerians, which in itself should increase labour productivity.
FSDH Research recommends additional measures to stimulate economic activities in Nigeria, including the immediate abolition of additional income taxes that some state governments in Nigeria charge on employees of companies who obtain mortgage loans below market rates; the tax is a major hindrance to the growth of the real estate sector in Nigeria. Government at all levels should provide long-term guarantees for civil servants to access mortgage loans at low interest rates. Longterm funds, specifically for the development of affordable housing units, can be sourced from international development corporations.
It also suggested that government could donate land free of charge for such housing developments and that state governments should also reduce the time and costs involved in property registration.
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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