Economy
TEF Gets N400m NEPC Grant for 50 Entrepreneurs
By Sodeinde Temidayo David
An African non-profit organization, Tony Elumelu Foundation (TEF), has received N400 million in grant funding from the Nigerian Export Promotion Council (NEPC) through the Export Expansion Facility Programme (EEFP) to accelerate the performance of TEF Alumni small and medium enterprises (SMEs) in Nigeria within the non-oil export sector.
At the signing ceremony organised between the two organisations at the Export House in Abuja, the Executive Director of NEPC, Mr Olusegun Awolowo, also revealed that the duo is set to create an army of exporters to drive non-oil exports and promote the diversification of Nigeria’s export portfolio for inclusive and sustainable economic growth.
“We have keenly admired the work that The Tony Elumelu Foundation has been doing with entrepreneurs across Africa, and took a cue from President Muhammad Buhari to support these efforts on behalf of the federal government through the EEFP under the Nigeria Economic Sustainability Plan (NESP),” Mr Awolowo noted.
The N400 million NEPC grant to the foundation is aimed to target Nigerian entrepreneurs who are willing to outgrow other governments in Africa to support the organisation in its bold drive to create tens of thousands of entrepreneurs across the continent.
In her remarks, the Chief Executive Officer of TEF, Mrs Ifeyinwa Ugochukwu, noted that the core mandate of the foundation is to empower young African entrepreneurs with training, support and first stage funding needed to start their businesses.
“We are very excited to have been identified by the NEPC/ EEFP as a reputable organisation to partner and empower 50 young Nigerian entrepreneurs with easy access to foreign markets and a one-of-a-kind opportunity to show the rest of the world the quality of minds and products that we have in Nigeria.
“Over the years, we have provided targeted technical assistance and support, equipping entrepreneurs with resources that capacitate them to transform the continent.”
The foundation boss recalled that the organization has launched a digital platform that enables market linkages for African entrepreneurs, called the TEFConnect.
Also at the signing ceremony, graduates from the TEF network of over 4,000 Nigerian entrepreneurs were present to share their business success stories with NEPC.
The strategic objective of the N400 million grant is to promote export inclusion, market access, and minimise logistical and export trade facilitation challenges.
Selected beneficiaries are from the TEF Alumni network of over 10,000 African entrepreneurs, who have been trained, mentored, and funded to enable their businesses to grow.
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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