Economy
Akwa Ibom Assembly Holds Public Hearing on 2017 Budget
By Modupe Gbadeyanka
Speaker of the Akwa Ibom State House of Assembly, Mr Onofiok Luke, has disclosed that the House would be guided by current economic realities in its consideration of the 2017 budget sent to the assembly by the executive.
Declaring open a one day public hearing on the 2017 Appropriation Bill titled: A bill for a law to Appropriate monies out of the Consolidated Revenue Fund and Capital Development fund to the service of Akwa Ibom State Government, the Speaker who was represented by the Deputy Speaker, Mrs Felicia Bassey, said the 6th assembly which is christened the people’s assembly, will always involve the citizenry in all its legislative engagements.
“As you may already know, the 6th assembly has over the last 19 months established and sustained the culture of putting in place public hearings like this for the bills that we pass.
“I wish to emphasize that nothing passes through this house that we don’t get public input. We will look at the economic situation in the country and allow these realities guide our decisions on the components of the budget,” the Speaker said.
While commending members of the public for honouring the invitation of the House, Mr Luke explained that the essence of the public hearing was to give Akwa Ibom people an opportunity to contribute their inputs to the budget, saying the aim was to ensure that the people of the state were carried along in the budgeting process.
Addressing the gathering, Chairman, House Committee on Appropriation and Finance, Mr Usoro Akpanusoh, stated that the public hearing exercise has become a normal parliamentary practice introduced by the House in order to bring together members of the public for the purpose of collating inputs that would guide the lawmakers in the consideration of the budget.
“It has become a norm in Akwa Ibom State House of Assembly that budget hearing is held whenever we receive the state budget from the executive.”
He said the House is committed to ensuring accelerated passage of the budget to enable the state government implement its lofty programmes and projects as encapsulated in appropriation bill, 2017.
Commissioner for Finance, Mr Linus Nkan, and his counterpart in the ministry of Economic Development were on hand to brief the gathering on underlining assumptions of the 2017 budget proposal of the state government, as well as the development objectives of the Mr Udom Emmanuel led administration.
In their separate presentations, the Commissioners explained that the policy thrust of the 2017 appropriation bill is intended to improve the living standard of the people of the state.
In a good will message, State Chairman of the PDP, Mr Obong Paul Ekpo who scored the budget a hundred percent, said “PDP government means well for Akwa Ibom people”.
“I listened carefully to the details of the budget the details of the budget and I discovered that the budget encapsulates every facet of our lives”.
Memoranda were submitted by various stakeholders including the Chairman, Akwa Ibom State Council of Chiefs, Mr Owong Achianga, State NLC Chairman, Comrade Etim Ukpong, Chairman, Nigeria Union of Journalists (NUJ), Akwa Ibom State Council, Elder Patrick Albert, among other members of the society.
A representative of the civil society, Mr Tijah Bolton Akpan of ‘Policy Alert’ organisation, canvassed for a stronger oversight on TSA implementation in the state, and close supervision and monitoring of the implementation of the budget by MDA’s.
He stressed the need for the state to speed up the process of enacting and domesticating the fiscal responsibility and public procurement law.
Mr Joshua Eyo Asuquo of the Chartered Institute of Taxation in Nigeria (CITN), who also represented Association of Professional Bodies of Nigeria, advocated for an increase in monthly revenue projection from N2.3 billion as captured in the budget to N3 billion.
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