Economy
Crude Oil Market Grows Amid Tariffs, Oversupply Pressures
By Adedapo Adesanya
The crude oil market edged higher on Friday despite pressures from market expectations of oversupply and uncertainty around tariff talks between the US and China.
Brent crude futures grew by 32 cents to settle at $66.87 a barrel, and the US West Texas Intermediate (WTI) crude futures gained 23 cents to sell for $63.02 a barrel.
China exempted some U.S. imports from its steep tariffs, a sign on Friday that the trade war between the world’s top two economies could be easing.
However, China quickly knocked down US President Donald Trump’s assertion that negotiations were underway.
It was reported that China has allowed some US-made pharmaceuticals to enter the country without paying the 125 per cent duties that was imposed earlier this month in response to President Trump’s 145 per cent tariffs on Chinese imports.
Reuters reported that a list of 131 product categories said to be under consideration for exemptions was circulating among some businesses and trade groups. However, China has not yet communicated publicly on the issue.
This comes as President Trump’s administration has also in recent days signaled it is looking to defuse the tension with China.
Trump’s tariffs dominated discussions at the International Monetary Fund (IMF) meetings this week, where finance ministers angled for one-on-one meetings with the U.S. treasury secretary.
As the market fears about the demand side of things, there are indications that supply might rise.
Several members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) have suggested the group accelerate oil output increases for a second month in June.
Earlier this month, OPEC+ decided to increase output by 411,000 barrels per day of oil in May, which was three times more than the group originally planned.
Eight OPEC+ countries will meet on May 5 to decide the June output plan.
Possible ease in the war in Ukraine also has the potential to add to supplies if it allows more Russian oil to reach global markets.
There was a three-hour meeting on Friday between Russian President Vladimir Putin and President Trump’s envoy Steve Witkoff. It was reported that the meeting was constructive and narrowed differences when it came to ending the war in Ukraine.
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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