Economy
Brent Crude Nears $80 Per Barrel on Red Sea Tensions
By Adedapo Adesanya
Brent crude neared $80 on Wednesday, gaining 47 cents or 0.6 per cent to trade at $79.70 per barrel as investors worried about global trade disruption and tensions in the Middle East following attacks on ships by Yemen’s Iran-aligned Houthi forces in the Red Sea.
Also, the US West Texas Intermediate crude appreciated by 28 cents or 0.4 per cent in the midweek session to close at $74.22 a barrel, as prices continued to rise because companies have begun to divert vessels away from the Red Sea with the rebel group signaling that they would not change course from their attacks.
The Houthis have launched at least 100 attacks on commercial vessels in the Red Sea in the past four weeks, targeting 12 separate vessels using ballistic missiles and drones. The attacks have escalated in tandem with Israel’s assault on Gaza.
This is happening even as the US with nine other nations – the UK, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles, and Spain, created an international task force dubbed Operation Prosperity Guardian to protect the Red Sea shipping lanes.
Doubt remains as to whether the task force will be able to halt Houthi attacks in the future.
About 12 per cent of world shipping traffic passes up the Red Sea and through the Suez Canal and although oil supply has been realigned, no shortages have yet emerged, analysts said.
The increase in oil prices has been somewhat muted, however, due to rising US oil production.
The latest forecast from the Energy Information Administration (EIA) shows US producers pumped out almost 13.5 million barrels per day last month, exceeding the agency’s year-ago prediction by a million barrels.
The US EIA reported an estimated inventory increase of 2.9 million barrels for the week to December 15.
This followed a weekly inventory decline of 4.3 million barrels for the previous week. The estimate also came out a day after the American Petroleum Institute (API) reported its inventory estimate, which saw oil stocks adding close to a million barrels over the week to December 15.
On the economic front, data suggests central bank action to ease inflation in Europe has made a meaningful difference. Despite this, analysts warned that it is unlikely interest rates in the EU would be cut during the first six months of next year.
In Britain, which is no longer a member of the EU, inflation plunged in November to its lowest rate in more than two years, strengthening the case for rate cuts.
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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