Economy
Nigeria May Borrow More, Expand Tax Net to Achieve Short-Term Growth—KPMG
By Aduragbemi Omiyale
An audit, tax and advisory firm, KPMG Nigeria, has noted that the Nigerian government may have to borrow more or increase its tax net to achieve its short-term growth strategy.
The company said this in its latest Macroeconomic Snapshot, which looked into the 6 per cent gross domestic product (GDP) growth target set by President Bola Tinubu in the next four years.
KPMG Nigeria submitted that this goal is unachievable, going by some parameters currently on the group.
“The president, during his inauguration speech, had set a target to increase the GDP growth rate of the country by 6 per cent on average in the next four years through budgetary reforms aimed at stimulating the real sector of the economy. However, we are of the opinion that this might be difficult to attain in four years,” the firm said in the report.
It stressed that, “While we expect stronger year-on-year growth over the next few years, we are of the opinion that there is very limited space to attain a 6 per cent average real growth rate in 4 years or an increase in real GDP by N17 trillion.
“We are of the opinion that an average GDP growth rate of between 4 per cent to 4.5 per cent at best is more feasible in the next four years. Even this will require the country to get its policies right and keep consistent faith with macroeconomic reforms.”
KPMG Nigeria said, “The government’s major short-term growth strategy will be to boost government investment and government expenditure (accounting for about 15 per cent of GDP combined) to attempt to unlock the potential of the private sector and stimulate domestic consumption and exports.
“It may, therefore, have no option than to borrow more and/or increase tax collection given the low fiscal space and despite the already high debt and debt service environment of above 50 per cent even after subsidy removal.
“This may, however, constrain GDP growth in the short term by squeezing households and businesses; this further indicates that 6 per cent on average in 4 years is unlikely.”
It disclosed that Nigeria’s growth since 2019 has been fragile, not growing fast enough to contain population growth (2.6 per cent to 3.0 per cent) and needs to be less inequitable (with a Gini coefficient of 35.1 per cent in 2022).
“Accordingly, per capita income has contracted by over 40 per cent since 2015.”
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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