Economy
Yam Export Won’t Cause Scarcity in Nigeria—Ogbeh Assures
By Dipo Olowookere
Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has appealed to Nigerians not to panic over plans by the Federal Government to begin exportation of yam to the United Kingdom and the United States this month end.
Mr Ogbeh assured Nigerians that this move will not lead to scarcity of yams in the country as being feared by many.
Some critics had said this plan by the FG to take yams out of the country to Europe and America was ill-time because, according to them, yams produced by Nigerian farmers were not enough to meet the demands of citizens.
They claimed a similar issue happened when Nigeria began exporting cassava, causing price of the commodity in the local market to skyrocket.
At the moment, a bowl of garri, made from cassava, which used to be around N100 to N200, now goes for over N1000.
But in a statement issued on Monday by the Minister, he said there was no need to panic about the non-availability of yams for Nigerians to consume.
“Dear Nigerians, let me once again, address your concerns about our new programme on yam export. On June 29, 2017, a total of 72 metric tons of yam will leave the shores of Nigeria to Europe and the US, heralding a new dawn in Nigeria’s food exports,” Mr Ogbeh said.
He pointed out that there was never a time shortage of yams was experienced in Nigeria, stressing that, “Over 30 percent of the yams we produce in Nigeria rot away. Export therefore provides opportunities to earn foreign exchange and produce more yams.”
He said if Ghana, which does not grow anywhere near one tenth of the yams grown in Nigeria was targeting $4 billion in yam exports, the nation can do better.
“The export of Nigerian yams is not new. It has just been going through other ports and largely unaccounted for, due to sharp practices.
“The Food and Agriculture Organization (FAO) says Nigeria accounts for 61 percent of yam production in the world. Nigeria has no reason not to engage in and benefit from this profitable trade in view of our large production capacity.
“We cannot diversify our economy if we do not explore new ways of creating wealth and earning foreign exchange especially in items on which we have competitive advantage and superior production capacity. There is no need to panic!
“We need to focus on the opportunities, as we partner with our development partners to create storage facilities to minimize post-harvest losses; and as we work on other exportable agro commodities, we are working on mechanized methods for the production of yam heaps to ease the burden of yam production and review its standards to ensure local improvement and global acceptability.
“To diversify our economy through Agriculture, we cannot, but support this private sector initiative and drive for our Agro commodity exports,” the Minister said in the statement.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
1 Comment