Economy
Nigeria’s Inflation Rises to 12.40% in May 2020
By Adedapo Adesanya
Nigeria’s headline inflation rose by 0.06 percent to 12.40 percent year-on-year in May 2020 for the 25th consecutive month.
According to a report released on Wednesday morning by the National Bureau of Statistics (NBS), the inflation increased to its present level from 12.34 percent recorded in April 2020.
On a monthly basis, inflation went up 0.15 percent from 1.02 percent in April to 1.17 percent in May.
This was spurred by increase in food items like oil and fats, fish, potatoes, yam, and other tubers, vegetables, bread and cereals, and fruits during the month.
According to the Consumer Price Index (CPI)/Inflation Report for May 2020, the statistical body showed that food inflation rose marginally by 0.01 percent to stand at 15.04 percent in May from 15.03 percent in the preceding month.
The Food Sub-Index rose to 1.42 percent in the month of May compared to 1.18 percent in April.
Core inflation also rose 0.04 percent in the month under review from 9.98 percent in April to 10.12 percent in May 2020.
While month-on-month, it dropped to 0.88 percent from 0.93 percent in April 2020.
In the month the federal government directed an ease in the lockdown earlier put in place to contain the spread of COVID-19 pandemic, the NBS noted that highest increases were recorded in passenger waterways transport, motor cycles, passenger road transport, hairdressing salons/personal grooming establishment, paramedical services/hospital services, pharmaceutical products, personal transport equipment, medical service, repair of furniture among others.
The agency also disclosed in its report today that urban inflation index rose by 0.02 percent year-on-year to 13.03 percent in May from 13.01 percent in April, while rural inflation rose to 11.83 percent in the month from 11.73 percent in the preceding month.
Rural/Urban month-on-month figures showed that urban rose to 1.18 percent from 1.06 percent, while the rural inflation rose to 1.16 percent from 0.98 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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