Economy
Oil Prices Increase as US, China Advance Trade Deal
By Adedapo Adesanya
Major oil futures gained more than one percent on Tuesday driven largely by optimism surrounding reports that the United States and China could finalize a trade agreement next month.
Following this, the price of Brent Crude, the international benchmark, traded up 1.13 percent equivalent to 74 cents to at $66.16 per barrel, while the US West Texas Intermediate (WTI) crude moved up 1.02 percent equivalent to 62 cents to trade at $61.14 per barrel.
This rise occurred as the United States President, Donald Trump said on Tuesday that he and President Xi Jinping of China will have a signing ceremony to sign the first phase of the US-China trade deal agreed to this month.
The 18-month long trade tensions between the two countries have weighed on the oil market because of worries of a slowdown in demand growth, leading to drops in oil prices but with this deal, things have experienced a change.
On Monday, Business Post reported that Russia, a member of the Organisation of the Petroleum Exporting Countries (OPEC) allied group (OPEC+) may consider easing output cuts next year. This was from an interview the Russian Energy Minister, Mr Alexander Novak, granted on Monday.
The OPEC and other top producing nations led by Russia had agreed earlier this month in Vienna to extend and deepen output cuts in the first quarter of 2020 by additional 500,000 barrels to 1.7 million barrels, but the oil market is still faced with oversupply from other non-OPEC member states such as the United States, which has a crude inventory of almost 13 million barrels per day.
As the market awaits official industry data, crude stocks, according to a poll by Reuters, are expected to have fallen for the second week by about 1.8 million barrels last week and this may help prices rise after the holidays.
The weekly government report on inventories has been delayed by two days due to Christmas with data expected on Friday.
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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