Economy
Rise in Food Prices to Spike Inflation to 11.35%—FDC
By Modupe Gbadeyanka
Analysts at Financial Derivatives Company (FDC) have projected that inflation rate in Nigeria for the month of October 2018 will increase by marginally by 0.07 percent to 11.35 percent, making it the third consecutive month of rising inflation after a sustained period of declining price level.
In a report released by the firm, it was disclosed that the rise in the headline inflation would be influenced by increasing prices of food items in the country caused by floods and insecurity in agrarian states of the middle belt.
Business Post recalls that flood ravaged many communities in the country this year, which made it nearly impossible for farmers to reap the fruit of the labour.
Another issue is security caused by Boko Haram in the north eastern part of Nigeria and farmers/herdsmen clashes in the middle belt region of the country. Both crises have resulted in a decline in agricultural output and an increase in the prices of commodities such as onions, pepper and melon.
However, FDC said the month-on-month sub-index is expected to decline marginally by 0.01 percent to 0.82 percent (10.48 percent annualized) in October as a result of the harvest. Though, the increased supply was negatively impacted by disruptions in the food producing states.
The report said during the month, average on-grid power output increased by 6.77 percent to 3,752.23MWh/h, which it noted is expected to have a positive impact on aggregate output and also reduce the demand for alternative source of energy such as diesel.
The relative stability in exchange rate at the parallel market (N361/$-N362/$) could filter through to stable cost of imports.
FDC said the average wholesale (depot) price of diesel increased by 2.38 percent to N215/litre in October, pointing out that the retail price of diesel in Lagos was as high as N251/litre, reflecting a higher logistics cost, which could drive up the operating expenses of firms, with the price of premium motor spirit (PMS) also increased across the country.
According to FDC, an imminent increase in the minimum wage is likely to fuel inflationary pressures and push the fiscal deficit of both federal and state governments in the next few quarters.
An increase in inflation compounded by a spike in the unemployment numbers to be released this month will increase the misery index, which is currently 51.28 percent. This could be politically expensive for the incumbent government, the report said.
It added that the continued monetary policy normalization in the United States will further increase volatility and pressure on emerging market currencies, stressing that for Nigeria, this possible weakening of the naira could result in higher import prices.
“The next MPC meeting is scheduled to hold on November 19/20. The committee, which is saddled with the responsibility of ensuring price stability, is likely to continue with the tight monetary stance by maintaining the status quo,” the report said.
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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