Economy
Crude Oil Prices Up on Positive US, Chinese Data
By Adedapo Adesanya
Crude oil prices rose more than 1 per cent on Thursday on expectations that global demand will strengthen following signals from the world’s top two economies: the United States and China.
Brent futures increased by $1.35 or 1.6 per cent to settle at $87.47 a barrel, while the US West Texas Intermediate (WTI) crude improved by 86 cents or 1.1 per cent to settle at $81.01 per barrel.
The US economy grew faster than expected in the fourth quarter, but a measure of domestic demand rose at its slowest pace in 2½ years, reflecting higher borrowing costs.
The country’s gross domestic product (GDP) increased at a 2.9 per cent annualized rate last quarter. The economy grew at a 3.2 per cent pace in the third quarter.
The Commerce Department’s advance fourth-quarter report on Thursday showed half of the boost to growth came from a sharp rise in inventory held by businesses, some of which is likely unwanted.
Consumer spending maintained a solid pace of growth, supported by consumption early in the fourth quarter. Retail sales weakened sharply in November and December, and business spending on equipment contracted last quarter, the data showed.
China has been easing stringent COVID-19 restrictions this month, with the country reopening borders for the first time in three years.
Analysts noted that China’s reopening is supporting demand prospects for oil.
Market participants are closely tracking the upcoming JMMC (Joint Ministerial Monitoring Committee) meeting of the Organisation of the Exporting Countries and its allies, OPEC+ and the European Union(EU) embargo on refined products.
The OPEC+ ministerial panel meeting on February 1 is likely to endorse the oil producer group’s current output levels, OPEC+ sources reportedly said.
Prior to this, the US Energy Information Administration (EIA) reported an oil inventory build of 500,000 barrels for the week to January 20.
That was short of forecasts for a 1 million barrel rise, though the EIA says crude stocks are at their highest since June 2021.
The latest change in inventories compared with two sizeable weekly builds—one of 8.4 million barrels for the second week of January and a 19-million-barrel one for the first week of the month.
At 448.5 million barrels, crude oil inventories in the United States are 3 per cent above the five-year average for this time of year.
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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