Economy
Kaduna Mandates Adults to Pay N1000 Development Levy
By Modupe Gbadeyanka
From 2021, every adult living in Kaduna State would be required to pay a compulsory N1,000 yearly as development levy.
The Executive Chairman of the Kaduna State Internal Revenue Service (KADIRS), Mr Zaid Abubakar, confirmed this in a notice posted on the official Facebook page of the agency, which is linked to the official website of the tax body, http://www.kadirs.kdsg.gov.ng/news.php.
Mr Abubakar noted that the payment of the levy was in line with Section 9 (2) of the Kaduna State Tax Codification and Consolidation Law, 2020.
The money would be used for the development of the state and it is the contribution of residents of the state to the achievement of this, he explained.
He said the state government has made efforts to transform the state and that it was necessary for adults in Kaduna State to pay towards giving more dividends of democracy to all.
“Payment of development levy is compulsory, citizens of Kaduna State from 18 years and above are entitled to pay their development levy into Kaduna State Revenue Accounts; it’s your civic responsibility to pay your N1,000 as development levy,” the agency said in the posted on Tuesday.
“The chairman said that the amount could be any amount depending on what the national or state assemblies determined in the tax law, stressing that the development levy had been in place in Kaduna state for over 50 years,” the agency quoted Mr Abubakar in another post on Thursday.
“Paying for national development is a must in Kaduna State, we call on every Kaduna State member from 18 years [to pay the levy] as paying for the development of the country is a must,” the tax body said.
In the words of Mr Abubakar, “As the name implies, the development levy is for the development of the state. We are all living witnesses of the economic transformation taking place in the state.
“This is evident with the ongoing massive roads construction, renovation, upgrade and equipping of hospitals and schools, and provision of the needed infrastructure for development to thrive.”
According to him, the recent review of the state’s tax law increased the amount from N100 to N1,000 in line with current economic realities.
“We ought to have commenced enforcement since January 2020 but extended it to 2021 due to COVID-19 lockdown and its accompanying economic hardship.
“But there will be full enforcement beginning from 2021, in accordance with the provisions of the state and other relevant tax laws,” he 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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