Economy
Brent Trades Above $85 Per Barrel as US Inflation Cools
By Adedapo Adesanya
The price of Brent crude benchmark settled above $85 on Thursday as oil prices rose for the second consecutive session amid rising hopes of interest rate cuts in the United States after data showed an unexpected slowdown in inflation.
The oil grade appreciated by 32 cents or 0.4 per cent to settle at $85.40 per barrel and the US West Texas Intermediate (WTI) crude futures appreciated by 52 cents or 0.6 per cent to $82.62 a barrel.
Data showed that US consumer prices which measure inflation fell in June, stoking hopes the Federal Reserve will cut rates soon.
The consumer price index dipped 0.1 per cent last month, the first drop since May 2020, after being unchanged in May, the US Labor Department’s Bureau of Labor Statistics said on Thursday. In the 12 months through June, the CPI climbed 3.0 per cent, the smallest gain since June 2023. That followed a 3.3 per cent advance in May.
The annual increase in consumer prices has slowed from a peak of 9.1 per cent in June 2022. The CPI report followed news last week that the unemployment rate rose to a 2-1/2-year high of 4.1 per cent in June from 4.0 per cent in May.
US Federal Reserve Chairman, Mr Jerome Powell recognised the improved trend in price pressures but told legislators this week that he was not yet ready to proclaim inflation had been defeated and that “more good data” would bolster the argument for interest rate decreases.
Market analysts noted that slowing inflation and interest rate cuts will likely spur more economic activity.
The data pulled the US Dollar index lower and this also supported oil prices. A softer greenback can lift demand for Dollar-denominated oil from buyers using other currencies.
US data published on Wednesday revealed a draw in crude stockpiles in the world’s largest oil market, as well as dropping inventories and high demand for petrol and jet fuel.
In its monthly oil market report, the International Energy Agency (IEA) saw global demand growth slowing to under a million barrels a day this year and next, mainly reflecting a contraction in China’s consumption.
Still, the Organisation of the Petroleum Exporting Countries (OPEC) in its monthly report on Wednesday kept forecasts for world demand growth unchanged, at 2.25 million for this year and 1.85 million barrels per day next 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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