Economy
Ondo Governor to Unveil N15bn Cocoa Processing Plant
By Adedapo Adesanya
Governor Rotimi Akeredolu of Ondo State will on Tuesday, December 7, 2021, commission a N15 billion cocoa processing plant in Akure built by JohnVents Industries Limited.
The factory is expected to boost local cocoa production, drive employment and enhance the country’s economy, according to the Managing Director of JohnVents Industry, Mr John Alamu, at a news conference.
He informed newsmen that already, 100 people have been offered direct highly-skilled and unskilled jobs in the company and more are expected to join the organisation, stating that the number of staff will increase to over 300 by the time the industry is at full operation.
Johnvents Industries Limited is a wholly indigenous-owned agribusiness and subsidiary of Capitalsage. The firm was acquired from Olam Venture with 100 per cent acquisition of personnel and machinery.
“Since we came in April 2021, we have invested over N3 billion naira in revamping the factory after acquiring it from Olam Venture. This investment has been on the area of machinery.
“Cocoa is capital intensive. A tonne of cocoa today goes for about N1.3 million and we consume an average body of 35 tonnes per day. That is what we are spending on raw material alone.
“Because we are in the main crop season, it is the practice that you must have raw materials that can take you for 90 days.
“That tells you the requisite billions of naira required for cocoa beans only.
“But we are leveraging on interventions from the Central Bank of Nigeria and Bank of Industry to boost our capital.
“Shareholders have injected huge share capital to finance the project. The investment by shareholders in this industry is N15 billion,” he stated.
The managing director further said the industry was a 15,000 metric tonnes automated processing plant, with the capacity to crush cocoa into cocoa liquor, butter, cake and powder.
He said that over 2,000 personnel would be involved in the cocoa supply and export value chain, while more than 15,000 smallholder farmers would be empowered to generate sustainable income and contribute to the national economy.
Mr Alamu, however, said that the industry had signed an agreement with companies abroad for large scale patronage.
“We have signed an agreement with companies abroad that have potentials. The nature of this contract has already off-taken 100 per cent of what we will be producing in the next one year.
“Our sales strategy plan is product specific. Our cocoa butter is straightly for export and we already have buyers.
“But for our cocoa powder, we are not willing to send that abroad because we don’t want to package all our fortunes here and take them abroad since there is local demand,” he said.
The managing director said that the industry has three warehouses outside the country capable of storing 15,000 tonnes of cocoa beans and the industry would keep stocking up to cater for light crop season.
Also speaking, Mrs Caroline Omotosho, Manager, JohnVents Industries Limited, said the company would be a game-changer in the cocoa value chain in revenue generation, local capacity development, job creation and contribution to the country’s gross domestic product (GDP).
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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