Economy
Transcorp Will Light Up Nigeria—Elumelu
By Modupe Gbadeyanka
Chairman of Transnational Corporation of Nigeria Plc (Transcorp), Mr Tony Elumelu, has reaffirmed the firm’s commitment to significantly increase power generation in the country.
Mr Elumelu made this known at the 11th Annual General Meeting (AGM) of Transcorp Plc held on March 29, 2017, at the Oriental Hotel, Victoria Island, Lagos.
At the occasion, he said more would be done to increase the yield and returns to shareholders, stressing the company will continue its significant capital investment strategy.
He stated that despite the difficult economic climate, the firm grew its revenue by 46 percent to N59.42 billion.
Transcorp is Nigeria’s leading listed conglomerate, active in the power, resource, hospitality and agroindustry sectors.
“Our investments in the key strategic sectors of the Nigerian economy directly align with our philosophy of meaningfully and positively impacting lives and transforming the African continent.
“We invest for the long term, knowing that at times the headwinds can be strong. We want to be the biggest provider of power to the Nigerian economy; we want to put light in homes, schools and hospitals; we want to provide the power for Nigeria’s industrialisation.
“When foreign investors come to Nigeria, we want to host them in our Transcorp Hilton hotels; and we want to supply indigenous produced oil and gas to power our networks and roads.
“Throughout 2016, we have continued to invest in Nigeria, when others waivered, because we are absolutely convinced in Nigeria’s destiny as the next global economic powerhouse,” Mr Elumelu said.
Highlighting the company’s achievements in 2016 to shareholders, the former Managing Director of UBA Plc said a 115MW Gas Turbine at Ughelli Power Plant in Delta State was recently commissioned by Transcorp, noting that this was evidence of the progress made in the power sector, despite regulatory and operating challenges.
He further said Transcorp’s future remains bright with the completion of some projects, including the $100 million renovation of the Transcorp Hilton Abuja.
Mr Elumelu pointed out that Transcorp Plc would continue to make efforts to improve the power situation in the country.
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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