Economy
Stock Market Further Sheds 0.59% as Senate Shifts 2019 Budget Passage
By Dipo Olowookere
Transactions on the floor of the Nigerian Stock Exchange (NSE) further declined on Wednesday as investors continue to take profit.
The market continued its downward trend in the absence of any positive news to trigger a buying pressure at the nation’s bourse.
At the close of business yesterday, the stock market lost 0.59 percent, leaving the year-to-date loss at 4.87 percent.
During trading on Wednesday, the All-Share Index lost 177.69 points to finish at 29,898.31 points, while the market capitalisation decreased by N67 billion to settle at N11.236 trillion.
Despite the loss, the market breadth was positive, with 26 price gainers in contrast of 14 price losers at the close of transactions.
On the losers’ chart, Nestle Nigeria dominated with a loss of N30 from its share value. The company’s stock settled at N1550 per unit yesterday.
Following were Seplat, which lost N25 to end at N545 per share, and Mobil Oil Nigeria, which fell by N4.90k to end at N175 per share.
Conoil depreciated by N2.20k to settle at N20.80k per share, while International Breweries declined by N2 to close at N21 per share.
At the other side, Dangote Flour topped the price gainers’ table after adding N1.15k to its share price to close at N12.90k per unit.
Zenith Bank and Dangote Sugar gained 45 kobo each to close at N21.35k per share and N14.70k per share respectively.
Fidson improved by 40 kobo to settle at N4.55k per share, while BOC Gas appreciated by 37 kobo to finish at N4.16k per share.
At the market yesterday, the volume and value of shares transacted by investors went down by 3.56% and 27.83 percent respectively.
A total of 304.9 million equities worth N2.6 billion were traded on Wednesday compared with the 316.1 million shares valued at N3.7 billion transacted on Tuesday.
It was observed that transactions in the shares of Japaul Oil topped the activity chart with 93.3 million shares valued at N20.82 million.
Access Bank followed with a turnover of 27.5 million shares worth N190.7 million, while UBA exchanged 25.9 million equities worth N180.9 million.
Zenith Bank traded 25.8 million shares worth N543.6 million, while UACN transacted 16.6 million shares valued at N116.1 million.
Meanwhile, the Senate on Wednesday delayed the passage of the 2019 appropriation bill for another one week.
At the plenary yesterday, the upper chamber of the National Assembly postponed the passage of the budget to next Tuesday.
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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