Economy
Kaduna Proposes N155b Budget for 2019
By Modupe Gbadeyanka
The Kaduna State government is planning to spend a total of N155 billion for the 2019 fiscal year.
The draft budget has over 64.4 billion for recurrent expenditure, representing 41.52 percent and N90.7 billion for capital projects, representing 58.48 percent.
On Sunday, Commissioner for Budget and Planning, Mr Muhammad Sani-Abdullahi, presented the draft 2019 budget tagged `Budget of Continuity’ to residents of the state at a town hall meeting in Kaduna for their inputs.
Mr Sani-Abdullahi explained that the budget was prepared against the macro-economic backdrop of pick up in global growth at 3.8 percent.
“We are here to present to you our 2019–2021 budgets which are is based on the Kaduna State Development Plan.
“You will recall that the plan was developed with your inputs and we have over the past three years’ took action on the plan through the budget.
“The budget is based on the gradual recovery from national recession as witnessed in a GDP growth of about 0.83 per cent and reduction in the inflation rate,” he said.
The commissioner explained that the key fiscal policy tool is the opportunity to insulate the economy from unforeseen negative shocks and turn the tide towards growth and development in the state.
“Total capital investment in 2016 was N62.2 billion compared to N27.6 billion in 2015, an increase of 125 percent. This is the highest capital investment in any one year in the history of democratic Kaduna State.
“In 2016, the recurrent expenditure witnessed a considerable reduction in personnel cost from N26.8 billion in 2015 to N21.8 billion in 2016, translating into a savings of over N5 billion, funds that were immediately reallocated to our works and education ministries,” he said at the town hall meeting.
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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