Economy
Oil Market Falls 2% on Expectations of US-Iran Nuclear Deal
By Adedapo Adesanya
The oil market was down by about 2 per cent on Thursday on expectations of a US-Iran nuclear deal that could result in sanctions being eased and more barrels released onto the global market.
This brought down the price of Brent by $1.56 or 2.36 per cent to $64.53 a barrel and weakened the US West Texas Intermediate (WTI) crude by $1.53 or 2.42 per cent to $61.62 per barrel.
The President of the United States, Mr Donald Trump, said yesterday that it was getting close to securing a nuclear deal with Iran, which the oil-producing country said it “sort of” agreed to the terms.
Mr Ali Shamkhani, a top political, military, and nuclear adviser to Iran’s Supreme Leader, Mr Ayatollah Ali Khamenei, said the Middle East nation was ready to sign a nuclear deal with the US under certain conditions, including the US lifting the sanctions on Iran.
These comments came hours after the US Treasury slapped additional sanctions on Iran, designating nearly two dozen firms operating in multiple jurisdictions in virtually every aspect of Iran’s illicit international oil trade.
The sanctions target Iranian efforts to domestically manufacture components for ballistic missiles, the US Treasury Department said, following Tuesday’s sanctions on some 20 companies in a network that it said has long sent Iranian oil to China.
Russia’s Vladimir Putin ignored meeting face-to-face with his Ukrainian counterpart, Mr Volodymyr Zelenskiy, in Turkey on Thursday, instead sending a second-tier delegation to planned peace talks, dealing a blow to prospects for a peace breakthrough.
Due to Mr Putin’s absence, Ukraine’s president said his defence minister would head up Ukraine’s team.
If the talks hold, it will be the first direct talks between the sides since March 2022.
This is slim as Mr Trump said there would be no movement without a meeting between himself and Putin.
The International Energy Agency (IEA) lifted its oil demand growth forecast in 2025 to 740,000 barrels per day, up 20,000 barrels per day from the previous report, citing higher economic growth forecasts and lower oil prices supporting consumption.
The IEA said economic headwinds and record sales of electric vehicles are expected to reduce demand growth to 650,000 barrels per day for the remainder of the year, from growth of nearly 1 million barrels per day in the first quarter.
The Organization of the Petroleum Exporting Countries and allied producers, (OPEC+), has been increasing supply, although OPEC on Wednesday trimmed its forecast for growth in oil supply from the U.S. and other producers outside the wider OPEC+ group this year.
Weighing on prices, data from the US Energy Information Administration (EIA) on Wednesday showed crude stockpiles rose by 3.5 million barrels to 441.8 million barrels last week.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn