Economy
Crude Oil Rises as Supply Shortage Beats Demand Worries
By Adedapo Adesanya
Prices of crude oil on the global market went up on Monday as markets balanced tight supply over an expected drop in demand due to mass testing for COVID-19 in China against ongoing concerns.
Brent crude gained 84 cents or 0.87 per cent to settle at $107.10 a barrel as the United States West Texas Intermediate (WTI) crude gained 70 cents or 0.7 per cent to settle at $104.09 per barrel.
The bearish case has focused on COVID-19 disruptions in China, which just identified over the weekend its first Omicron subvariant BA.5.21 in Shanghai.
China’s discovery of its first case of the highly transmissible Omicron subvariant in Shanghai, which has over 25 million residents, could lead to another round of mass testing, which would hurt fuel demand.
The zero-covid policy in the world’s largest crude oil importer sparked fears of decreased oil demand.
Further limiting oil gains are fears of a recession in the US as the Federal Reserve is expected to keep raising interest rates.
Analysts point out that the combined impact of concerns of global economic slowdown and a renewed COVID outbreak is coming at a worse time for oil markets.
Also putting pressure on oil was a rise in the US Dollar against a basket of other currencies to its highest since October 2002.
A stronger Dollar reduces demand for oil by making the fuel more expensive for buyers using other currencies.
However, oil prices have remained elevated on tight supplies, waning crude inventories, and concerns that the Organisation of the Petroleum Exporting Countries (OPEC_—specifically Saudi Arabia—doesn’t have the spare capacity that some think it has.
Also, the fear that sanctions against Russia, which are set to go into effect at the end of this year, could take too many oil barrels out of the market is compounding those fears, with no real plan in place to replace lost Russian oil barrels.
Russian President Vladimir Putin has warned that further sanctions could lead to “catastrophic” consequences in the global energy market.
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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