Economy
States Must Redouble Efforts to Boost IGR—Sani Bello
By Dipo Olowookere
Governor Abubakar Sani-Bello of Niger State has called on his colleagues to redouble their efforts in improving their revenues for them to embark on projects that will improve the lives of the people.
Speaking on on Monday in Minna, the state capital while declaring open the Technical workshop on ‘The Assessment of and Evaluation of the Various Revenue Reforms Introduced by the Revenue Generating Agencies,’ the Governor noted that improving the IGR in states would enable state governments to carryout infrastructural and social investment programs.
He said Niger State, on its own part, has engaged in massive re-evaluation of its revenue sources with the aim of improving its IGR and blocking leakages.
According to Mr Sani-Bello, “There is no doubt that the quantum of internally generated revenue for some of our states calls for redoubling of efforts to drive revenue for infrastructural and social investment programmes to improve the quality of lives of the people. There is still so much to be done despite some modest achievements in most states.
“For us in Niger State, we have since engaged in a process of massive reassessment of our internal revenue sources with a target of improving the volume of collections, blocking leakages as well ensuring the effective and judicious use of the revenues.”
He stated that the revenue reform process in the state focuses on the automation of the process of collection, blockage of leakages and tax base both in terms of number and variety of taxation sources.
Governor Sani-Bello also disclosed that the state is concentrating on agriculture and the mineral resources available in the state so as to help improve and sustain the economy of the state, adding that the ongoing reconciliation of data between Niger State, FCT and Nasarawa State will increase the revenue of the state by N400 million monthly.
“We have placed more emphasis on our key areas of comparative advantage, which are in agricultural value chain, abundant mineral resources and our proximity to the FCT.”
“We have completed the enumeration of taxpayers resident in the state but working in the FCT with a view to further strengthening our PAYE resources.
“In this regard, we are presently in the process of reconciliation of data between Niger State, FCT and Nasarawa State and the exercise is expected to increase our revenue earnings by up to N400M monthly,” he added.
Earlier, the Accountant General of the Federation, who was represented by MrSabo Mohammed, said the revenue reform matter is of great concern to his office.
He itemised Treasury Single Account; Electronic platform for the collection of Federal Government Revenue; Modernization of the Internal Audit; the Adoption of International Public Sector Accounting Standards as some of the reforms introduced by government.
In his remarks, Mr Shetimma Abba-Gana, the Chairman, Revenue Mobilization Allocation and Fiscal Commission who was represented by Mr Ken Kayana said the workshop was timely considering the current economic challenges.
He has however assured that the FAAC Post Mortem subcommittee would take cognisance of all the points raised in the workshop and has called on the participants to be actively involved in all the deliberations.
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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