Economy
Oil Prices Drop on US Inflation Data, Weak China Outlook
By Adedapo Adesanya
Oil prices settled lower on Thursday as speculation about another US interest rate hike faded following inflation data, with a weak outlook from China pressuring the market.
Brent crude fell by $1.15 or 1.3 per cent during the session to $86.40 per barrel, as the West Texas Intermediate (WTI) crude lost $1.58 or 1.9 per cent to close at $82.82 per barrel.
US consumer prices data for July released on Thursday fuelled speculation that the US Federal Reserve is nearing the end of its aggressive rate hike cycle.
The consumer price index rose 0.2 per cent last month, matching the gain in June. Shelter accounted for more than 90 per cent of the increase in the CPI, with rental costs increasing by 0.4 per cent.
Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments.
But recent data showed the consumer sector in China fell into deflation, and factory gate prices extended declines in July, raising concerns about fuel demand in the world’s second-largest economy.
The US also moved to curtail some investment in China in sensitive technologies like computer chips and requires government notification in other tech sectors.
Market analysts warned that as China’s data gets worse, it is only going to make it more difficult for China to ramp up its economy.
Support for prices also came as the Organisation of the Petroleum Exporting Countries (OPEC) said in its monthly report on Thursday it expected a healthy oil market for the rest of the year.
The group also stuck by its forecast for robust oil demand in 2024 as the outlook for world economic growth slightly improves.
OPEC said it expects world oil demand to rise by 2.25 million barrels per day in 2024, compared with growth of 2.44 million barrels per day in 2023. Both forecasts were unchanged from last month.
The report also increased OPEC’s forecast for world economic growth this year to 2.7 per cent from 2.6 per cent and raised next year’s figure by the same increment to 2.6 per cent, saying growth in the US, Brazil and Russia had surpassed initial expectations in the first half of 2023.
“Despite the latest positive developments, several uncertainties regarding economic growth in the second half of 2023 and 2024 require cautious monitoring,” OPEC said, adding that these include continued high inflation and the prospect of further increases to interest rates.
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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