Economy
Okomu Foresees Flourishing Palm Oil Industry in Nigeria
By Dipo Olowookere
The palm oil industry in Nigeria can rightly be said to have gone from grace to grass because many years ago, it was the world’s leading producer but today, it has slipped to fifth.
What could have caused this fall from grace? This was what CNN International’s Larry Madowo tried to find out in this week’s Marketplace Africa.
According to the major players in the sector, Nigeria’s palm oil production suffered shortcomings, mostly due to the fact that 80 per cent of production is driven by smallholder farmers.
Factors such as infrastructural backlogs, poor roads, blocked or backed up ports and lack of electricity make the production much more expensive, the makers pointed out.
But despite these issues, some producers are looking to navigate the storm and place Nigeria on top once more because they believe the future is bright for the sector and this is why a publicly quoted company, Okomu Oil Plc, is working with smallholder farmers to achieve this goal.
The firm, which boasts of a 20,000- hectare plantation, disclosed that Nigerian palm oil producers were prioritising sustainable business practices in order to counter deforestation and preserve the natural biome. They are looking into environmentally friendly ways of generating power.
“We are also, as I mentioned earlier, very interested and involved with the smallholder farmers to try and increase their production, and also to assist them by being a company that will, will, will guarantee uptake of their product,” the Managing Director of Okomu Oil, Mr Graham Hefer, told CNN.
He further said, “We have also put in a five-megawatt turbine, which is run through the steam production at the oil mill, which will actually take care of most of our internal power requirements for most of the year.”
Through innovation, Mr Hefer hopes to “see an industry that that is, going forward into the future, highly sustainable. One that is environmentally friendly and is working in unison with government and other stakeholders, right through the pipeline, to create an industry that is second to none in the world.”
As for the co-founder of Agritech start-up, Relief, Mr Ikenna Nzewi, technology innovation will create a better and more efficient value chain in the industry.
He said manufacturers have created West Africa’s most advanced palm nut de-shelling technology that allows them to de-shell nuts and crushes kernels into crude vegetable oil before selling them to fast-moving consumer good processors.
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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