Economy
Oil Closes Mixed Despite Hopes of Fresh Vaccine Supply
By Adedapo Adesanya
Oil prices closed the week mixed on Friday despite news surrounding two new vaccines, one from Johnson & Johnson and another from Novavax, raising hopes of more vaccine supply.
On the gaining end was Brent crude futures, which appreciated by 36 cents or 0.65 per cent to $55.89 per barrel, while the West Texas Intermediate (WTI) crude futures lost 24 cents or 0.56 per cent to sell at $52.38 per barrel.
The market in the past few days had faced demand worries over coronavirus variants and slow vaccine rollouts, which offset a bullish sentiment due to a cut in Saudi Arabian oil supply and falling US oil inventories.
But news of more vaccines offered the market succour as Johnson & Johnson reported early Friday that its coronavirus vaccine was 66 per cent effective in preventing moderate to severe COVID-19. It was, however, short of the widely-cited expectations that the vaccine would be at least 80 per cent effective.
Yet, the company also said that the vaccine was 85 per cent effective at preventing severe disease and completely effective at preventing hospitalisation and death from COVID-19.
Novavax is running an additional Phase 3 trial of its vaccine in the US. The company is mulling whether they could submit the drug for emergency-use authorization now or whether they would need to wait for the completion of the US trial. Johnson & Johnson said it planned to file for emergency authorization in early February.
Expectations that supply will be tighter when global oil demand is uncertain, with the continued spread of the coronavirus and new variants in South Africa and the UK also supported the price of oil on Friday.
This is coming as oil giant, Saudi Arabia, is set to begin its pledge to cut an additional one million barrels per day crude out of its production, which is beyond its quota under the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) pact in February and March.
In addition, the US Dollar weakened on Friday, making crude buying cheaper for holders of other currencies.
Analysts continue to warn that the slow vaccine rollout and the still spreading COVID-19 could delay global economic and oil demand recovery further this year.
OPEC oil output rose in January, a survey found, after OPEC+ agreed to an easing of supply curbs.
It was gathered that the rise was less than the amount agreed under the OPEC+ deal, with an involuntary drop in Nigerian exports limiting the increase.
In more forecast about the black gold, prices are expected to remain around current levels for much of 2021 before a recovery gains towards the final quarter of the year.
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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