Economy
Nigeria Considers 30-Year Economic Growth Plan
By Adedapo Adesanya
Nigeria’s Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed, has said federal government was formulating a 20 to 30-year growth plan aimed at enhancing national and economic development.
The Minister, in a chat with newsmen in Abuja on Monday, stated that the country may consider a development plan which may have a 5-year medium plan where the annual budgets would be drawn from.
“Just like the Economic Recovery and Growth Plan (ERGP) that was a 5-year medium plan and will be expiring in 2020, the plan will be strategic and well cut so the budget can be drawn from it,” she said during the presentation of highlights of the 2020 budget proposal yesterday.
When asked about the complete closure of the Nigerian land border, Mrs Ahmed said that negotiations were ongoing with both Chad and the Benin Republic to identify why the borders were porous and assured that they will be re-opened afterwards.
The Minister also said the decision to shut the borders that were manned by federal government securities came as a result of breach in agreements by neighbouring countries.
Business Post reported yesterday that all import and export of goods from the nation’s land borders were banned pending when there is an agreement in place with neighbouring countries on the kind of goods that should enter and exit Nigeria.
Also speaking on how the federal government would implement the sanction of Ministries, Departments and Agencies (MDAs) that are not captured under the Integrated Personnel Payroll Information System (IPPIS), she said that the staff will not receive their October salaries and subsequent salaries and will only be paid when the different agencies and department comply with the directive by President Muhammadu Buhari.
Mrs Ahmed added that the staff of the ministry will not be sacked but their salaries will be withheld as the federal government plans to block revenue leakages with the introduction of the policy.
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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