Economy
Bayelsa Gets Tax Advisory Team to Boost IGR
By Modupe Gbadeyanka
The Deputy Governor of Bayelsa State, Mr Lawrence Ewhrudjakpo, has been appointed to head the tax advisory committee constituted to boost the internally generated revenue (IGR) of the oil-rich state.
The Commissioner for Information, Orientation and Strategy, Mr Ayiba Duba, announced this on Thursday after the executive council session at the Government House in Yenagoa, the state capital.
Mr Duba, while addressing newsmen after the meeting, said the team has as members the Commissioners for Finance, Justice, Budget, Environment, Trade and Investment, Agriculture, Transportation, the Accountant General of the state, chairman of internal revenue board and three others.
According to him, the state government decided to set up the committee because it could no longer wait for the monthly allocation from the federal government, especially now that the earnings of the central government was threatened by COVID-19 and drop in the prices of crude oil at the global market.
He said the areas the state government was looking to generate more revenue were agriculture and housing.
“The state tax advisory committee, which was constituted with the deputy governor as chairman, has the Commissioners for Finance, Justice, Budget, Environment, Trade and Investment, Agriculture, Transportation, the Accountant General of the state, chairman of internal revenue board and three others to be appointed as members and secretary,” he said.
Also speaking, the Commissioner for Agriculture, Mr David Alagoa, said the state is blessed with fertile land that can be used to grow crops to feed the state.
“When people think of Bayelsa, they do not think agriculture. But we have a lot to offer in agriculture. For instance, we have large expanse of land. We have the longest stretch of coastline in Nigeria and so on.
“In the last three weeks, I have had the opportunity to go round the state and identify a lot of projects. The fish farm in Yenegwe, the fish farm at Angalabiri and the cassava starch factory at Ebedebiri. These are ultramodern projects. These are some of what we intend to do to showcase Bayelsa to the world,” he said.
The Commissioner stated that Bayelsa State will mark the World Food Day on October 16, noting that the state has a lot to showcase in the agriculture sector.
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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