Economy
Oil Falls as Stronger Dollar Outweighs Tight Supply, US Stockpiles Drop
By Adedapo Adesanya
The prices of the crude oil grades went down on Wednesday as the US Dollar strengthened but continued to find support from a tightening of supplies from Russia and other members of the Organisation of the Petroleum Exporting Countries (OPEC).
Fears of renewed inflationary pressure in the US, the world’s largest economy, grew leading to a stronger US Dollar, with Brent shedding 32 cents or 0.42 per cent to trade at $77.37 per barrel and the US West Texas Intermediate (WTI) losing 47 cents or 0.63 per cent to settle at $74.72 per barrel.
A stronger Dollar makes oil more expensive for holders of other currencies, weakening prices.
According to a Reuters survey, oil output from OPEC fell in December after two months of increases with field maintenance in the United Arab Emirates (UAE) offset a Nigerian output hike and gains elsewhere in the group.
Nigeria recorded a 50,000 barrels per day gain, bringing Africa’s largest oil producer daily average to 1.5 million barrels per day.
In Russia, oil output averaged 8.971 million barrels a day in December, below the country’s target.
There was a drop in US crude stocks as the US Energy Information Administration (EIA) reported an estimated inventory draw of 1 million barrels for the first week of 2025.
The authority also estimated builds in fuel inventories but both gasoline and diesel stocks remain below the five-year average.
The crude inventory draw compared with another modest of 1.2 million barrels for the last week of 2024, which was accompanied by substantial builds in gasoline (petrol) and middle distillates that failed to elicit a bearish response from the market at the time.
This is after the American Petroleum Institute (API) inventory reported crude oil stocks shed a sizable 4 million barrels in the first week of January. The API also estimated another round of hefty inventory builds in fuels.
Analysts expect oil prices to be on average down this year from 2024 due in part to production increases from non-OPEC countries.
Market analysts note that the market remains driven by expectations of this tighter global supply situation after US President-elect Mr Donald Trump takes office on January 20.
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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