Economy
Halt Proposed VAT Hike Until Economy Recovers—CNPP Tells Tinubu
By Aduragbemi Omiyale
President Bola Tinubu has been advised to put the proposed increase in value-added tax (VAT) on hold until the country’s economy gets back on its feet.
This suggestion was given by the Conference of Nigeria Political Parties (CNPP), which argued that raising the consumption tax could deepen the woes of the citizens.
The National Assembly is considering hiking VAT from 7.5 per cent to 10 per cent next year, 12.5 per cent in 2016 and 15 per cent in 2030.
The federal government, which has experienced a shortfall in earnings, has continued to explore ways to generate more funds.
This has led to the removal of petrol subsidies, which the CNPP said has made the cost of living very high in the country.
The group appealed to Mr Tinubu to reverse the rise in petrol prices as well as the price of cooking gas in Nigeria.
“As an oil-producing country, Nigeria has historically relied on petroleum products and cooking gas as essential sources of energy for both domestic and industrial purposes.
“However, the recent price hikes have created an unsustainable financial burden on citizens, particularly low-income households,” the association said in a statement signed by its Deputy National Publicity Secretary, Mr James Ezema.
CNPP demanded the federal government to “take immediate steps to reverse the pump price hike and stabilize petrol and cooking gas prices through targeted interventions.”
“This includes temporary price relief measures, tax reductions, or subsidies on LPG for low-income households,” it added.
It emphasised that the rise in prices of goods and services has “exacerbated the financial burden on ordinary Nigerians, with petrol and cooking gas prices skyrocketing in recent months. This has increased inflation, pushing many families into deeper financial hardships and threatening economic stability and job security in the country.”
The body lamented that, “Small and medium-sized enterprises (SMEs) are struggling to manage their operational costs due to increased fuel prices, threatening economic stability and job security,” noting that “the federal government must prioritize the welfare and well-being of Nigerians and take concrete steps to alleviate the suffering and hunger among the masses in the country.”
The group charged the government to go after “looters and government officials in the previous administration of President Muhammadu Buhari and recover trillions of naira stolen from the nation’s treasury under several guises.”
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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