Economy
Buhari to Sign 2023 Budget Next Week
By Aduragbemi Omiyale
The appropriation bill passed into law on Wednesday should be signed into law next week by President Muhammadu Buhari, the Senate President, Mr Ahmad Lawan, has disclosed.
He made this disclosure after he had a closed-door meeting with Mr Buhari at the Presidential Villa in Abuja on Friday.
While addressing reporters after the private meeting, the number three citizen of the country said he discussed the 2023 budget and other issues, including the general elections taking place next year.
The Senate President specifically said the 2023 fiscal year budget, which is the highest in the history of the country at N21.83 trillion, would be signed on Tuesday, December 3, 2023, all things being equal.
“We are looking forward to Mr President signing the Appropriation Bill 2023, by the grace of God, on Tuesday.
“This is because we signed the document on Thursday, having lost some time because of some anomalous figures we had in the bill presented to the National Assembly.
“But thank God, the National Assembly in both chambers passed the Appropriation Bill 2023 on Wednesday, and I’m sure that Mr President and his team on the executive side will work on what we have done.
“And the first thing on Tuesday, the first official working day of the year, I believe that Mr President will be signing the Appropriation Bill 2023,” Mr Lawan stated.
He described his discussions with Mr Buhari as fruitful, noting that the executive and the legislative arms of government have been working cordially for the growth of Nigeria, saying this has made it possible to have a January to December budget cycle.
However, he lamented the delay in passing the 2023 budget earlier than expected, attributing this to the irregularities discovered the in the 2023 appropriation bill, which was later cleaned up.
“We are very pleased that we have been able to, in the last four years, ensure the passage of the appropriation bills in record time before every Christmas, and Mr President had always signed before the end of the year.
“This year, particularly, is because of the anomalous, very undesirable and unfortunate situation that we had to delay a little bit.
“You will recall that the National Assembly had to cut down its Christmas recess to come back on Wednesday for the sole purpose of passing the appropriation bill, which we could have passed a week before. So all the same, there’s nothing that we missed,” the Senate President said.
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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