Economy
Kaduna Revenue Service Targets N100bn IGR
By Adedapo Adesanya
The Kaduna State Revenue Service (KADIRS) has promised to grow the state’s Internally Generated Revenue to N100 billion in the next two years.
The Executive Chairman of the service, Mr Zaid Abubakar, also said by the end of this year, the state is expected to have increased its IGR by over 80 per cent of its annual budget.
Speaking at an awards ceremony to recognise taxpayers who have been consistent in paying their taxes, the state’s chief tax collector said to achieve this goal, KADIRS has come up with medium and long-term collection plans.
Mr Abubakar explained that the awards event was put together to also recognise other government agencies whose contributions helped the service to exceed its revenue target of N50 billion last year.
”For the medium-term revenue collection plan, we expect that by 2024 Kaduna will be able to collect more than N100 billion and by 2030 we should be able to collect more than N200 billion.
”With that, we can, to a certain extent say, whether FAAC holds or not, at least 70-80 per cent of our budgetary requirements will be met through IGR,” Mr Abubakar said.
The Executive Chairman also said that the essence of such events is, “to engender inter-agency collaboration and also to motivate our teeming taxpayers to continue to pay their taxes to the state government.”
Mr Abubakar noted that despite the pandemic and significant changes and scaling down the budget by N50 billion, the state did not only meet its budget but exceeded it.
”Under the transformative leadership of Governor Nasir El-Rufai, the state’s tax collection has grown from N12 billion in 2015 to N44.9 billion in 2019 and over N50 billion in 2020, thus becoming one of the states with the highest IGR across the federation,” he said.
Mr Abubakar attributed this success to the political support that KADIRS enjoys from the governor and the State Executive Council, the unwavering commitment of the staff of the agency, taxpayers’ compliance and support, as well as the invaluable collaborative efforts of revenue collecting Ministries, Departments, and Agencies (MDAs).
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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