Economy
FG To Introduce 9% Tax On Calls, SMS, Others
Nigerians may have to start paying 9% tax on calls, SMS, PayTV, data and other internet services anytime soon.
This move, according to the Federal Government, is aimed at increasing its revenue so as to fund the budget.
Minister of Communications, Mr Adebayo Shittu, while speaking a stakeholders’ meeting organised by the Lagos Chambers of Commerce and Industry (LCCI) this week, however said this development is being proposed to the government.
He said before this can be implemented, he would need the approval of the President.
“Our ICT Roadmap gives fresh impetus for implementing existing policies and reviewing any that is inimical to the growth of the sector.
“My focus on any tax regime will be to align any process that will stimulate the economy and also ensure that the tax system is efficient by widening the tax net.
“It is also to create an effective framework for tax compliance to protect the poor and vulnerable in the society who nonetheless have to use telecoms services for social inclusion and financial services,” he said at the occasion.
Mr Shittu pointed out that the communication services to be taxed would include voice call, SMS, MMS, Data usage from telecommunication service providers, internet service providers and Pay TV Stations.
The Minister further revealed that when the proposed plan is approved, the government should be making at least N20 billion monthly.
“I have been reliably informed that the projected earnings from this effort is over N20 billion every month, which is an attraction to the government for funding our budget deficits.
“I must be quick to say that this government has a human face twined around its decisions,” said the Minister.
But Mr Taiwo Oyedele, Partner, PriceWaterCoopers disagreed with the Minister on the projected N20 billion monthly from the tax.
He said if the new tax is introduced, consumers would surely reduce their consumption pattern, leading to low revenue for the government.
On her part, President of the LCCI, Mrs Nike Akande, called on the government to create a friendly tax environment so as to allow the industry thrive.
“We know that the government is seeking to diversify its revenue base in the light of dwindling oil revenue. But it is also true that the private sector players will like to see an investment friendly tax environment, especially in the light of the prevailing high cost of doing business in the country. It is important to balance these two positions,” she said.
Also, President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr Teniola Olusola, urged the government to jettison the planned tax increment because he said it will reduce inflow of foreign direct investment into the sector.
He pointed out that players in the sector are already complaining of multiple taxations.
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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