Economy
Nigeria Plans 300% Electricity Tariff Hike in Coming Weeks
By Adedapo Adesanya
The federal government is planning an almost 300 per cent increase in electricity tariffs in the coming weeks to attract investment into the sector.
As it is being planned, energy distribution companies in the country known as DisCos will begin to charge about N200 per kilowatt-hour (kWh) for customers in the urban areas as against the current N68 per kWh.
Those in urban centres represent just 15 per cent of the population but reportedly consume around 40 per cent of the country’s power.
The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, said that the Nigerian Electricity Regulatory Commission (NERC) would announce a price increase soon and the government cannot speak on the matter for now.
Mr Onanuga said the government was under pressure to allow a price increase in the electricity sector as it only budgeted N450 billion for the subsidy this year.
Although he did not say when the tariff increase would come into effect, he said that when it does come in effect, the government is expected to save close to N1.1 trillion per year.
Mr Onanuga said Nigeria last reviewed electricity tariffs in 2020, adding the proposed increase would help businesses recover costs and boost investment.
“With the huge subsidy burden and high cost of gas … the current electricity tariff is not realistic,” he said.
Nigeria’s power sector faces a myriad of problems including a failing grid, gas shortages, high debt and vandalism. The country has 12,500 megawatts of installed capacity but produces only about a quarter of that, leaving many reliant on expensive diesel-powered generators.
This year alone, the national grip has collapsed twice and electricity scarcity has been attributed to gas unavailability, a situation the Minister of Power claims is under investigation.
Also, state-controlled power tariffs are too low to allow distribution companies to recoup costs and pay generating companies – leaving the sector with debts.
Speaking on this, Mr Onanuga said the government would consider helping generating companies to offset around N1.5 trillion debt owed to the Nigerian Bulk Electricity Trading Company.
Prior to now, the government has spent on N3 trillion on intervention to electricity distribution companies.
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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