Economy
Nigerian Breweries Pays N75b Tax to Federal, State Govts
By Dipo Olowookere
The sum of N75 billion was paid in taxes by the Nigerian Breweries Plc to both federal and state governments in 2017.
This disclosure was made by the brewery giant while giving latest updates on its issue with the National Lottery Regulatory Commission (NLRC) over the closure of its premises by officials of the commission.
In a statement signed by its Head of Government Relations, Mr Vivian Ikem, the firm said it has always been a responsible company operating in Nigeria and contributing to the development of the country.
“Since being established over 70 years ago, Nigerian Breweries Plc has remained one of the highest contributors to government revenue through taxes and levies paid to various levels of government.
“In 2017, we contributed by way of taxes and other levies, about N75 billion to the treasury at both the federal and state levels,” Mr Ikem said.
He said further that, “Our company has always ensured that it complies with all legitimate demands of government agencies which are in accordance with the rule of law and has never sought to or seek to deprive government of its legitimate revenue.”
“Nigerian Breweries Plc is committed to winning with Nigeria and will continue to engage with all the appropriate stakeholders while seeking to protect and uphold its reputation as a good corporate citizen in the country,” he added.
It was gathered that NLRC last week temporarily shut down operations of Nigerian Breweries in Abuja as well as its corporate head office in Iganmu, Lagos from the demand for payment of certain disputed fees which the agency claimed were from the brewer’s various consumer sales promotions.
According to Nigerian Breweries, “No court order was shown to us by the officials of the commission with regard to the shutting down of our company premises.”
Mr Ikem explained that prior to the above actions, the Nigeria Employers’ Consultative Association (NECA) on behalf of its member companies, including Nigerian Breweries Plc, had instituted an action at the Federal High Court (FHC) in Suit No: FHC/ABJ/CS/306/12 against NLRC challenging the powers of the Commission to regulate consumer sales promotions in the country moreso as they form part of the marketing and sales activities of the concerned companies.
“The matter is subsisting at the Court of Appeal in Suit No: CA/A/267/2016, the appeal having been brought at the instance of the Commission. A cross-appeal was subsequently instituted by NECA against the decision of the FHC.
“As a law abiding corporate citizen, Nigerian Breweries Plc has always ensured that all our consumer sales promotions are vetted and approved by the Advertising Practitioners Council of Nigeria (APCON) and the National Agency for Food and Drug Administration and Control (NAFDAC)..
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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