Economy
Chinese Faltering Economy Dampens Oil Mood
By Adedapo Adesanya
China’s economic issues keep reflecting weakening demand from the world’s top crude importer, and this has further impacted oil prices.
On Tuesday, Brent crude declined by 43 cents or 0.5 per cent to sell at $84.03 a barrel, as the US West Texas Intermediate (WTI) crude slipped by 48 cents to quote at $79.64.
China, the world’s second-largest economy, is considered crucial to shoring up oil demand over the rest of the year.
In its most recent report, the International Energy Agency (IEA) said demand is forecast to average 102.2 million barrels per day this year, with China accounting for more than 70 per cent of growth even as lacklustre macroeconomic conditions, slowing post-pandemic recovery and the burgeoning use of electric vehicles served as threats.
However, China’s sluggish economic activity has frustrated markets as pledged stimulus has fallen short of expectations, including a smaller-than-expected cut in a key lending benchmark on Monday.
Analysts note that weakening demand from the country is not helping boost the market even as Saudi Arabia and Russia cut output to help prop up prices. They noted that the demand trajectory from China that appeared to develop last month may continue for the next couple of weeks.
Additionally, JP Morgan is expecting slowing demand for mobility fuels in China.
On the geopolitical front, Iraq and Turkey discussed the importance of resuming oil flows after finalising pipeline maintenance, a development that could boost global supply.
Recall that Turkey had halted Iraq’s 450,000 barrels per day of exports, about 0.5 per cent of global supply – through the northern Iraq-Turkey pipeline in March after an International Chamber of Commerce arbitration ruling.
The American Petroleum Institute (API) reported a 2.418-million-barrel draw on US crude inventories, compared with the previous week’s 6-million-barrel draw, as oil prices slip on China growth concerns.
The US Energy Information Administration (EIA) will on Wednesday provide the official figure.
Last week, the EIA reported an inventory draw of 6 million barrels for the week to August 11, compared to the previous week’s 5.9-million-barrel build, despite the fact that refiners had boosted run rates and exports were soaring, with US oil output at its highest level since COVID-19.
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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