Economy
Non-Oil Sector Records 6.74% Growth in Q2 2021
By Ashemiriogwa Emmanuel
While the oil sector contribution to Nigeria’s Gross Domestic Product (GDP) dropped, there was a better performance for the country’s non-oil sector in the second quarter of 2021 as it grew by 6.74 per cent in real terms.
Data from the Nigerian Bureau of Statistics (NBS) released last Thursday showed that the country saw a 5.01 per cent growth year-on-year.
During the reference quarter, growth in this segment of the country’s economy was higher by 12.8 per cent compared to the rate recorded in the same quarter of 2020 (-6.05 per cent) and 5.95 per cent points higher than the first quarter of 2021.
While the oil sector reduced its contribution to 7.42 per cent to the nation’s economy, the non-oil sector made a significant contribution of 92.6 per cent.
Comparatively, the percentage added by the sector is higher from 91.07 per cent recorded at the same time last year and the 90.6 per cent published for the first quarter of 2021.
The stats office noted that the growth in the sector during the quarter was majorly driven through Trade, Information and Communication (Telecommunication), Transportation (Road Transport), Electricity, Agriculture (Crop Production), and Manufacturing (Food, Beverage, and Tobacco).
Trade contributed immensely to the growth as the federal government lifted border closure in December 2020 after 16 months and the economy further reopened following COVID-19 restrictions and this led to a 21.7 per cent growth (year-on-year) from N4.6 trillion in Q2 2020 to N5.6 trillion in the same period this year.
In the second quarter of 2021, the sector recorded a growth rate of 5.55 per cent year on year, indicating a decrease of -9.54 per cent points compared to the second quarter of 2020. This change reflects people going back to the offices as they cut down on virtual work.
The Agricultural sector grew by 1.30 per cent in the second quarter of this year from 2.28 per cent and 1.58 per cent published for Q1 and Q2 last year, while the Manufacturing Sector improved from 3.40 per cent recorded in Q1 last year to 3.49 per cent within the period under review, indicating an 8.78 per cent when compared to the same period 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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn