Economy
FG Mulls Selling Stakes in NNPC, Others to Raise Funds
By Adedapo Adesanya
The federal government plans to sell stakes in 20 state-run companies, including the Nigerian National Petroleum Company (NNPC) Limited, as part of efforts to raise much-needed funds in Nigeria.
This is according to Mr Armstrong Takang, the chief executive officer (CEO) of the Ministry of Finance Incorporated (MOFI), which manages a significant portfolio of federal government investments spanning a wide variety of asset classes, including corporate assets, financial assets, fixed assets, mineral and intangible assets, cash-flow-generating transactions.
In an interview with Bloomberg, he said the agency would consider two major options, a strategic sale or initial public offerings (IPOs).
Mr Takang noted that the agency, which takes charge of all investments made by the federal government of Nigeria, will set out to do this within the next 18 months.
He added that the FG will be going for value rather than control, noting that, “It is better for us to own 49 per cent of a high performing than 90 per cent of an entity that is underperforming.”
MOFI is currently speaking to consultants, including financial and legal, to handle different aspects of the transactions, Mr Takang told the publication.
Some of the considerations will be to the private sector, which will take controlling shares.
Nigeria has, over the years, sold some of its assets, including the Nigerian Aviation Co. Plc (NAHCO) and the Power Holding Company of Nigeria (PHCN), which has been structured into distribution companies in the hands of private handlers while the government controls generation and transmission.
If the country is able to hand over some of its assets to other parties, it will help cut down on the large expenditure used in running these entities as the country grapples with economic challenges.
In addition to this, President Bola Tinubu-led government is considering raising tax revenues, with the country’s Tax-to-GDP estimated at 10.86 per cent in 2021, a low rank among global peers.
He recently established a committee, headed by ex-PWC lead, Mr Taiwo Oyedele, to reform Nigeria’s tax administration with a target to double the collection rate within three years. They are to focus on fiscal governance, tax reforms, and growth facilitation.
“The committee, in the first instance, is expected to deliver a schedule of quick reforms that can be implemented within 30 days,” the President said.
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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