Economy
Buhari to Present 2023 Budget to National Assembly September
By Adedapo Adesanya
President Muhammadu Buhari is expected to present the 2023 appropriation bill to the National Assembly in September, in line with the planned calendar of activities.
The Director-General of the Budget Office of the Federation, Mr Ben Akabueze, hinted this in Abuja at training on budget preparation using the Government Integrated Financial Management Information System.
The two-day nationwide training on budget preparation, which ended on Tuesday, was organized for over 4,000 budget officers drawn from about 900 ministries, departments, and agencies (MDAs) of the government.
Mr Akabueze, who was represented by the Director, Expenditure (Socials) in the Budget Office, Mr Fabian Ogbu, said the federal government under President Buhari is determined to ensure consistent and timely preparation, submission, and approval of annual budgets as part of its Public Financial Management (PFM) reforms.
He, however, lamented that MDAs do not study the Budget Call Circular in detail and as such make mistakes that should ordinarily be avoided if they had complied with the relevant sections of the budget circular.
“The main goal of this training is to provide continuous learning to equip budget personnel with the requisite knowledge, skills, and the tools they require to prepare and submit the 2023 budget,” he said.
“It has been observed that MDAs do not study the budget circular in detail, as such make mistakes that should ordinarily be avoided if they had complied with relevant sections of the budget cycle.”
He said the 2023 budget is also being prepared in tandem with extant federal government policies and guidelines as articulated in the 2023 Budget Call Circular and other relevant laws/regulations.
To address this, Mr Akabueze said one of the modules at the training would address key items and sections to note in the 2023 Budget Call Circular.
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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