Economy
Brent Soars to $90 as Market Maintains Bullish Trend
By Adedapo Adesanya
The Brent crude went up by 69 cents or 0.77 per cent on Friday to a seven-year peak of $90.03 per barrel while the United States West Texas Intermediate (WTI) crude oil futures pointed north with a 21 cents or 0.24 per cent to $86.82 per barrel.
The commodity rose as a result of the uptick recorded its sixth straight weekly gain, which was majorly spurred by a week filled with geopolitical turmoils due to heavy concerns over tight energy supply.
Prices drew support from concerns over a possible military conflict in Ukraine that could disrupt energy markets, especially natural gas supply to Europe.
Russia is the world’s third-largest oil producer and second-largest supplier of natural gas.
The country has massed around 100,000 troops on Ukraine’s border as it demands that North Atlantic Treaty Organisation (NATO) never admit Ukraine and other ex-Soviet nations as members and that the alliance roll back troop deployments in other former Soviet bloc nations.
These demands have stoked tension between the country and the US and its allies, which deemed them non-starters.
The tensions over Ukraine contributes to some uncertainty around a decision on crude production from the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) next week.
At its February 2 meeting, OPEC+ is likely to stick with a planned rise in its oil output target for March.
This is because some key producers in the OPEC+ group, including Nigeria, continue to struggle to meet their output quotas.
Early in the week, the market also positively reacted to attacks on the United Arab Emirates (UAE) by Yemen’s Houthi group, which stoked tension in the Middle East.
Talks on the revival of the Iranian nuclear deal, if the negotiations continue at their current pace, show an agreement could be reached by the end of February, though it might take another two months to have it finalized.
This might lead to the lifting of sanctions on Iran and more barrels of Iranian oil for world markets.
Meanwhile, the market is also facing concerns that the US Federal Reserve might be even more aggressive in raising interest rates in the world’s largest oil producer.
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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