Economy
Nigeria’s Inflation Rises 21.09% in October 2022—NBS
By Aduragbemi Omiyale
There seems not to be an end to the rising inflation in Nigeria, as the National Bureau of Statistics (NBS) on Tuesday announced that the average cost of goods and services increased by 21.09 per cent in October 2022. In the previous month, September 2022, the inflation rate was 20.77 per cent, and when compared with October 2021, it rose by 5.09 per cent, as it was 15.99 per cent in the same period last year.
The stats office said the percentage change in the average consumer price index (CPI) for the 12 months ending October 2022 over the average of the CPI for the previous 12 months period was 17.86 per cent, showing a 0.91 per cent increase compared to the 16.96 per cent recorded in October 2021.
In the report released this afternoon, which was analysed by Business Post, the NBS said inflation could have worsened last month as a result of a disruption in the supply of food products, an increase in the cost of importation due to the persistent currency depreciation, and a general rise in the cost of production like increase in energy cost.
It noted that over the past three months, there had been a decline in headline inflation on a month-on-month basis due to a decline in the changes in the food index relative to the reference month index, which could be triggered by the present harvesting season.
According to the report, the food inflation rate in October 2022 was 23.72 per cent on a year-on-year basis, 5.39 per cent higher than the 18.34 per cent recorded in October 2021.
This was attributed to increases in prices of bread and cereals, food products n.e.c, potatoes, yams and other tubers, oil and fat.
It said on a month-on-month basis, the food inflation rate in October was 1.23 per cent, lower than the 1.43 per cent achieved in September 2022 by 0.21 per cent.
This decline was attributed to the reduction in prices of some food items like tubers, palm oil, maize, beans, and vegetables.
It was disclosed that the average annual rate of food inflation for the 12 months ending October 2022 was
19.83 per cent, which was a 0.92 per cent points decline from the 20.75 per cent average annual rate of change recorded in October 2021.
The NBS also said on a year-on-year basis, in October 2022, the urban inflation rate was 21.63 per cent compared with the 16.52 per cent recorded in October 2021, while the rural inflation rate was 20.57 per cent in the period under review, in contrast to the 15.48 per cent reported in the same period of last year.
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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