Economy
Nigeria Can Become Major Player in Global Economy—Minister
By Modupe Gbadeyanka
By virtue of its human and natural resources endowments, Nigeria has the potential to become a major player in the global economy.
This was the submission of Minister of State for Labour and Employment, Prof Stephen Ocheni, when he received executive members of the Chartered Institute of Taxation of Nigeria (CITN), Abuja and District Society led by its Chairman, Mr Ben Ogbeide.
According to the Minister, “Nigeria has the potential to become a major player in the global economy by virtue of its human and natural resource endowments.
“In order to propel the economy towards sustained accelerated growth, the present administration of President Muhammadu Buhari developed the Economic Recovery and Growth Plan (2017-2020) for the purpose of restoring economic growth and building a globally competitive economy.”
Furthermore, the Minister emphasized that the present administration drive towards rejuvenating the economy focused on tackling corruption, improving security and rebuilding the economy consequently the Strategic Implementation Plan was developed as a short term intervention.
Mr Ocheni urged the Institute to support the revenue drive of the Federal Government to finance government budget by disseminating information on tax awareness to the people on the need to pay tax as at when due, thereby accelerating the pace of economic and infrastructural transformation of Nigeria.
“I charge you all as a professional body to put on your thinking cap and come up with laudable plan and programme that can bring about an increase in the revenue drive of the Federal Government, thereby accelerating the pace of economic and infrastructural transformation of Nigeria, and contribute further to the attainment of the goal of promoting its Economic Recovery and Growth Plan,” the Minister disclosed.
Earlier in his remark, Chairman of CITN, Abuja and District Society, Mr Ben Ogbeide, said the purpose of the visit was to intimate the Minister, who is also a fellow of the Institute, on effort at increasing awareness about the imperative need to promote tax payment and make people see the need to pay tax.
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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