Economy
Osun Governor Presents 2019 Budget to Parliament
By Dipo Olowookere
Governor of Osun State, Mr Gboyega Oyetola, has presented a budget estimate of N152.7 billion to the state House of Assembly, lower than the N179.2 billion budgeted for the 2018 financial year.
Presenting the 2019 budget proposal to the parliament on Thursday, his first, Mr Oyetola said priority would be given to agriculture, healthcare and provision of water in the rural communities in the state.
According to him, the Budget of Hope is aimed at building on the giant strides of the immediate past administration Mr Rauf Aregbesola.
He said capital projects will take 65 percent of the total expenditure, amounting to N91.5 billion, while education has 11.36 percent, representing N10.4 billion.
Speaking on how his administration plans to generate the revenue for the year, Mr Oyetola said the state is expecting an Internally Generated Revenue (IGR) of N36 billion at a minimum N3 billion per month of the projected total revenue of N150 billion, with the remaining coming from other sources including the Federation Account, grants, aids, investment and others.
The Governor said the era of payment of modulated salaries and allowances and other benefits was over, adding that workers and pensioners were now collecting their full salaries.
On education, he said, “We shall review the school curriculum to achieve value reorientation and to create a sense of worth belonging in our youths. Consequently, History shall be re-introduced in our secondary schools while Civic Education shall be expanded to incorporate the Omoluabi ethos.
“Focused-attention shall also be given to technical and vocational education to inculcate relevant skills for the youth to make them job creators rather than job seekers.
“Our Administration remains irrevocably committed to the joint ownership and co-funding of the Ladoke Akintola University of Technology, Ogbomoso and the College of Health Sciences, Osogbo with the Oyo State Government.”
On healthcare, emphasis will be on Health insurance “to provide effective, quality and affordable services to all and sundry.”
The Health Insurance is a contributory scheme in which the government will pay three percent while the worker will contribute 1.5 percent.
There is also a plan to revitalise and equip 332 Primary Health Care (PHC) centres – one in each ward – and 57 secondary health care centres across the three senatorial districts.
The Ede Headworks water scheme is to be rehabilitated to enhance supply of portable water to at least 12 local government areas.
The Ilesa water project whose work restarted with the commitment of President Muhammadu Buhari, is to get full attention.
“Given the committed leadership this administration is bringing to the table, and the unwavering following, we have been getting from the citizenry, the state of Osun is poised to set the pace in economic independence.
“We shall put strategic in place to further promote food security, employment and create wealth by investing heavily in agriculture, mining, infrastructure, commerce and industry, education and technology.
“We shall also introduce creative and prudent management of our resources, block leakages, and eliminate wastages. We will assemble the brightest of the best minds to drive our policies as we are committed to provide equitable opportunities and people-oriented governance.
“We are committed to consolidating on the various ongoing projects and programmes by delivering on the continuous investment in education, healthcare and social welfare, unwavering attention to security of lives and property, people-oriented and good governance system that founded on zero tolerance for corruption,” the Governor told the lawmakers.
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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