Economy
Tambuwal Presents N204b Budget for 2017
By Modupe Gbadeyanka
On Thursday, December 29, 2016, Sokoto State Governor, Mr Aminu Tambuwal, presented a budget of N204.3 billion to the state House of Assembly.
Mr Tambuwal informed the lawmakers that the 2017 appropriation bill is focused on sustainable economic development through substantial investment in critical sectors.
To prove this, the education sector got the highest allocation of over N38.43 billion, representing 27.3 percent. This is the second year running the sector is getting the lion share of the budget.
Also, works and transport sectors got N16.2 billion, while water resources and environment gulped N10.7 billion.
In the same vein, health received N7.7 billion while the ministry of housing, lands and survey got N8.2 billion.
In addition, rural and community development got N5.6 billion, solid minerals and natural resources development received N1.7 billion, while the ministry of commerce, industries and tourism got N4 billion.
Business Post learnt that the state dedicated 69 percent of the budget to capital projects, while recurrent expenditure got 31 percent.
Speaking during the presentation of the bill, the Governor said, “We will prioritise effective resources management and seek intervention in areas with high potentialities to create job opportunities, generate income and improve revenue generation.”
He said further that, “We will work to strengthen capacity building of scheduled ministries to ensure they perform better in their tasks.
“Of great importance to us will be the promotion of partnership with the private sector in areas of strategic importance to our development objective.
“We will promote value chain through agro-processing and diversification by way of giving incentives to farmers and producers.
“We will also create backward and forward linkages between and among institutions, partners and other stakeholders to accelerate economic growth,” he said.
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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