Economy
Brent Crude Nears $84 on Middle East Supply Concerns
By Adedapo Adesanya
The price of the Brent crude oil graded neared $84 per barrel on Monday after it gained 9 cents to sell at $83.56 per barrel, as lingering supply concerns from tensions in the Middle East were offset by signs of weakening demand.
However, it was a different outcome for the US West Texas Intermediate (WTI) crude which had no settlement due to the Presidents’ Day holiday in the country.
The conflict in the Middle East continued over the weekend as Israeli raids put the Gaza Strip’s second-largest hospital out of service as Israel prepared for an assault on the southernmost city of Rafah, which houses more than a million mostly displaced Palestinians living in desperate conditions.
The Gaza war began when Hamas, which controls Gaza, sent fighters into Israel on October 7, killing over 1,000 people, mostly civilians, and seized over 250 hostages.
Now, more than four months later, the conflict has destabilised the entire Middle East as Hamas’s military allies – all Iran-backed paramilitary groups – have targeted Israeli and US interests with missiles and drones.
Although this has not directly affected oil supplies, it has affected the wider trade.
Also, efforts by the US and UK including carrying out hundreds of attacks on the country in an attempt to neutralize rebels have not yielded a positive result, it has only seen continued missile and drone attacks on the international shipping lane.
For instance, on Monday, missiles from the Houthi rebels hit a commercial vessel and forced the crew to evacuate. This is the first instance the crew of a commercial vessel has been forced to evacuate due to damage sustained by rebel attacks.
Worries came from slowing demand forecasts from the International Energy Agency and an increase to producer prices in January, amplifying inflation concerns and lifting the US Dollar.
The Dollar index, which tracks the currency against six peers, has gained for five straight weeks and edged slightly higher on Monday.
A stronger greenback makes dollar-denominated oil less attractive to investors holding other currencies, denting demand.
Market analysts say the impact of the Dollar has been offsetting supportive measures such as the Middle East situation, interventions from the Organisation of the Petroleum Exporting Countries (OPEC), and hopes in China’s economic conditions.
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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