Economy
Oil Recovers From Losses to Close Week Strong
By Adedapo Adesanya
Oil prices ended the week on Friday, November 8, 2019 positive with major oil futures holding gains despite fresh pessimism surrounding the US-China trade deal.
Earlier in the day, oil prices fell more than 1 percent following comments from US President Donald Trump that he has not agreed to roll back tariffs placed on China.
However, as at Friday night, Business Post monitored that the future was trading up 36 Cents or 0.58 percent to trade at $62.66 per barrel, while the US’ West Texas Intermediate (WTI) Crude was also appreciating by 27 Cents equivalent to 0.47 percent to trade at $57.42 per barrel.
After the comment, oil prices took a hit with Brent reaching a session low of $60.66 a barrel and WTI dropping to $55.76 a barrel.
According to CNBC analysis, the 16-month trade war between the world’s two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020.
It was reported on Thursday that China and the United States had agreed to roll back tariffs on each others’ goods in the phase one trade deal when it is signed by both nations.
However, a lot of scepticism from the Donald Trump administration have shown its effect on the deal and even on the possibility of lifting the tariffs placed on Chinese goods.
Meanwhile, also lending a hand to the good outlook of oil prices , the optimism expressed by the Organisation of the Petroleum Exporting Countries (OPEC) Secretary-General Mohammad Barkindo earlier in the week noted there was a positive outlook for 2020, saying there could be no need to cut output more deeply.
A deal by producers and allies such as Russia will meet on December 5-6 in Vienna to review that policy which will help limit supplies until March next year.
However, analysts believe that if the trade agreement between China and the US is reached, there will still be need for OPEC and its members to take a bigger production cut as the market is projected to suffer oversupply in 2020.
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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