Economy
Chinese Data, Improved OPEC Exports Weaken Oil Prices
By Adedapo Adesanya
Oil prices fell more than 4 per cent to their lowest on Tuesday since late July over mixed Chinese economic data and rising oil exports that eased fears about tight supply.
Brent crude, the global benchmark, settled at $81.61 a barrel after it went down by $3.57 or 4.2 per cent, as the US West Texas Intermediate (WTI) crude futures closed at $77.37 per barrel after losing $3.45 or 4.3 per cent.
A recovery in oil exports from the Organisation of Petroleum Exporting Countries (OPEC) has added to the pressure on oil prices.
OPEC crude exports are up by about 1 million barrels per day since their August low, as a result of seasonally lower domestic demand in the Middle East.
On the demand side, China’s crude oil imports in October showed robust growth but its total exports of goods and services contracted at a quicker pace than expected.
The world’s largest oil importer consumed 13.52 per cent more crude oil in October than a year earlier, data showed on Tuesday, as refiners stepped up purchases using fresh import quotas and as domestic fuel demand expanded during the Golden Week holiday.
Crude oil arrivals last month into China totalled 48.97 million metric tons, or 11.53 million barrels per day, according to the General Administration of Customs, up marginally compared with 11.13 million barrels per day in September.
Year-to-date imports by the world’s largest oil buyer amounted to 473.22 million tons, or 11.36 million barrels per day, an increase of 14.4 per cent from a year earlier.
Meanwhile, exports shrank 6.4 per cent from a year earlier in October, customs data showed on Tuesday, faster than a 6.2 per cent decline in September.
US crude oil stocks rose by almost 12 million barrels last week, market sources said citing American Petroleum Institute (API) figures.
The official data from the US Energy Information Administration (EIA) will be released later on Wednesday.
Also pressuring prices was a lift in the US Dollar Index from recent lows, making oil more expensive for holders of other currencies.
The market also continued to monitor the development in the Middle East, which has so far not had any impact on oil supply.
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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