Economy
Buhari to Sign Revised N10.8trn 2020 Budget Today
By Dipo Olowookere
The revised 2020 budget worth N10.8 trillion will be signed into law on Friday, July 10, 2020 (today) by President Muhammadu Buhari.
Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this disclosure on Thursday when she held a meeting with principal officers of the parliament in Abuja.
The signing of the appropriation bill is expected to take place at the Presidential Villa in Abuja.
Last month, the legislative arm of government passed the new budget, which had the crude oil benchmark set at $25 per barrel to reflect the current global reality, which has pressured the price of the commodity.
The coronavirus disease has put many economies in crisis, including Nigeria and its main source of earnings, crude oil, has not performed well at the international market, with the price falling from $65 per barrel last year to $40 per barrel at the moment.
Speaking during her meeting with the lawmakers yesterday, the Finance Minister said based on the agreement signed by Nigeria with other oil producers, the country’s oil production for this year may not exceed 1.4 million barrels per day.
However, she expressed optimism that the executive will work towards keeping the economy viable despite the obvious challenges at the moment.
The Minister also informed the key officials of the parliament that efforts are being taken to come up with the spending plan of the federal government for 2021-2023, noting that the framework should be submitted to them later this month, while the budget should be presented in two months’ time for the normal scrutiny.
“This for us is a journey towards ensuring that the progress that we have made as a collective to return the fiscal year to January–December is maintained for the 2021 budget as well.
“The President has directed that we must deliver the budget to the National Assembly by the end of September,” she told the congressmen at the meeting.
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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