Economy
Finance Bill Will Boost Investor Confidence, Attract FDI—FG
By Adedapo Adesanya
Minister of Finance, Mrs Zainab Ahmed, has informed members of the parliament that the decision of federal government to amend the Finance Bill was to make the economy better.
Speaking at a public hearing on the matter in Abuja, she explained that the main reason the executive arm of government submitted the bill for passage into law was to create an enabling business environment and alleviate the tax burden of small and medium enterprises.
Mrs Ahmed noted during her presentation at the legislative chambers on Tuesday that the newly revised economic-friendly bill will help boost the country’s local and foreign investors.
“The Finance Bill 2019 has generated a positive narrative from key stakeholders, economic analysts, tax experts and the general public.
“Furthermore, its provisions, if passed into law by the National Assembly, are likely to increase investor confidence and attract foreign direct investment,” she said.
It was revealed that the bill will amend the tax provisions and make them more responsive to the tax reform policies of the Federal Government and enhance its implementation and effectiveness.
In October 2019, President Muhammadu Buhari, while presenting the 2020 budget to a joint session of the National Assembly, submitted the Finance Bill (Amend) 2019, where it was stated that the Value Added Tax (VAT) would be increased from 5 percent to 7.5 percent.
Since this revelation was made, the bill has come under heavy criticisms.
At the public hearing declared open by the Senate President, Mr Ahmad Lawan, who was represented by the Deputy Senate President, Mr Omo-Agege, the nation’s number three citizen said the purpose of the ‘town hall’ meeting was to get inputs from critical stakeholders and the Nigerian public on the Finance Bill.
He said all views would be critically analysed by the Assembly before the passage of the Bill.
The session, which was also open to stakeholders and members of the public to make the Bill all-inclusive and featured experts and stakeholders from the private organized sector who made presentations were OPTS, PwC, KPMG, Joint Tax Board (JTB), Manufacturers Association of Nigeria (MAN), Lyod, Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Taxation of Nigeria and (CITN), Association of National Accountants of Nigeria (ANAN).
On their part, the representative from KPMG said: “We are very supportive of these revolutionary initiatives by the Government.” She added that her organization was in alignment with the direction of the Bill as well as the palliatives that the Bill has provided, to ensure that the most vulnerable in the society were catered for.
Meanwhile, the representative from MAN suggested that both tax and levies should be harmonized while also suggesting that sections 7 and 89 should be revisited while the SMEDAN module be adopted in the categorization of micro, small and medium enterprises.
Contributing to the matter, representatives from the CITN advised that the Bill should rather put the responsibility of collecting Stamp Duties on the Federal Inland Revenue Service (FIRS).
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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