Economy
Crude Oil up as Traders Expect Colder Temperatures in US, Europe Early 2025
By Adedapo Adesanya
Crude oil prices went up on Monday as investors bet on a temperature drop across the United States and Europe over the coming weeks to boost diesel demand.
Brent crude futures jumped by 22 cents or 0.3 per cent to settle at $74.39 a barrel and the US West Texas Intermediate (WTI) crude gained 39 cents or 0.6 per cent to trade at $70.99 a barrel.
Reuters reported that concerns about colder weather in the weeks ahead are boosting diesel as a substitute for natural gas in space heating.
Heating degree days, a measure of energy demand for space heating, are expected to rise to 499 over the next two weeks in the US, compared with 399 estimated on Friday.
There is also anticipation that the weather will be colder in Europe in February 2025.
Further support for oil prices could come from declining US crude stockpiles, which are expected to have fallen by about 3 million barrels last week.
Last week, prices were buoyed by a larger-than-expected drawdown from US crude inventories in the week ended December 20 as refiners ramped up activity and the holiday season boosted fuel demand.
Investors are also waiting for China’s PMI factory surveys, due on Tuesday, followed by the US ISM survey on Friday, to gauge the economic health of the top oil-consuming nations.
Market analysts warned that China, the world’s largest oil importer, faces a weaker economy which could lead to oversupply in oil markets next year.
This happens as Chinese authorities issued over 152 million metric tons of crude oil import quotas to independent refiners to be able to get enough for their refineries.
The Asian country has seen lacklustre oil demand and crude imports in 2024 amid a weaker-than-expected economy and faltering demand for road transportation fuels.
Chinese authorities have agreed to issue a record 3 trillion Yuan ($411 billion) in special treasury bonds in 2025 to revive economic growth.
Oil market participants are also speculating that US President-elect Donald Trump will cut Iranian crude oil exports to below 500,000 barrels per day through sanctions, taking over 1 million barrels of daily crude oil supply off the global market.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
