Economy
Reps Urge FG to Extend Railway Line to Tincan, Ijegun Ports
By Adedapo Adesanya
The House of Representatives has called on the federal government to extend the current railway line in Apapa Port to Tincan and Ijegun ports in Lagos State.
The call followed the adoption of a motion by Mr Oghene Egoh at Wednesday’s plenary in Abuja.
Speaking on the motion, Mr Egoh noted that the Tincan Port is the second busiest port in Nigeria after the Apapa Port, stating that it has a storage capacity of 28,000 metric tonnes of grain.
“The terminal handles wheat, maize and malt and could take delivery of about 4000 metric tonnes of grain daily, the port facilities could handle ships of about 30,000 tones.
“Currently, Ijegun Port absorbs 25 per cent of the 60 per cent of the nation’s petroleum products and will be able to absorb 50 per cent with greater co-operation from the government,” he informed his colleagues.
The lawmaker further said that the Lagos-Kano railway line under construction was 2,700 kilometres in length and that an extension of 15 kilometres railway line from the Apapa Port to Tincan Island Port and Ijegun Port in Satellite Town would be of huge economic benefits to the nation.
Mr Egoh stressed that the rail line would enable the government to move more goods to other parts of the country and reduce damage to the roads.
After his motion and contributions from others, the lower chamber of the National Assembly adopted it and urged the federal government to extend the rail line from Apapa Port through Tincan Port to Ijegun Port tankers terminal in Satellite Town.
They also urged the Ministry of Transportation and the Nigerian Railway Corporation (NRC) to include the construction of a railway line from Apapa Port to Ijegun Port through Tincan Port in the 2022 budget.
The House mandated the Committees on Legislative Compliance and Land Transport to ensure compliance.
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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