Economy
Weak European Data Dent Oil Prices
By Adedapo Adesanya
It was a negative outcome for major crude benchmarks in the international market on Monday due to worries about demand following disappointing business activity data in Europe and a weak Chinese economy.
The Brent crude lost 59 cents or 0.8 per cent to trade at $73.90 a barrel and the US West Texas Intermediate (WTI) crude fell by 63 cents or 0.9 per cent to $70.37 a barrel.
Both oil benchmarks rose more than 4 per cent last week, buoyed by the US Federal Reserve’s decision to cut interest rates by 50 basis points and signal further reductions in borrowing costs by the end of the year.
However, at the opening session for the week, weak data from the top two economies in the European Union – Germany and France – dented the outcome.
German business activity contracted in September, with the HCOB flash composite PMI falling from 48.4 in August to 47.2 in September, a seven-month low just as the French preliminary composite PMI data, a measure of business activity in the manufacturing and services sector, also fell in September.
Meanwhile, business activity in the US was steady in September, but average prices charged for goods and services rose at the fastest pace in six months, potentially hinting at a pickup in inflation in the coming months.
China, the world’s top oil importer, is battling deflationary pressures and struggling to lift growth despite a series of policy measures aimed at spurring domestic spending.
The market also continues to weigh supply concerns from Israel’s latest airstrikes on Hezbollah, which created more tensions and supported oil prices.
After almost a year of war in Gaza, Israel is shifting its focus to its northern border, across which Hezbollah has been firing rockets in support of its ally Hamas.
Fresh weather worries remain as a potential Tropical Cyclone System 9 intensifies as it moves toward the US Gulf coast, where the brewing storm could turn into a hurricane by Wednesday.
Shell, Chevron, and Norway’s Equinor have all begun evacuating staff from offshore facilities as the threat of the storm means more production shut-ins.
The National Hurricane Center (NHC) warned that the tropical cyclone system, which was near western Cuba on Monday, is expected to intensify over the next 72 hours.
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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