Economy
Crude Prices Slip on Global Economic Concerns
By Adedapo Adesanya
Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and an expected build in US oil inventories.
At the market yesterday, the price of Brent futures fell by $2.06 or 2.3 per cent to $86.13 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.49 or 1.8 per cent to $80.13 per barrel.
Worries gripped that market as business activity in the US contracted in January for the seventh straight month.
In the world’s largest economy, the downturn moderated across the manufacturing and services sectors for the first time since September, and business confidence strengthened as the new year began.
Analysts said the US economy could still roll over as some energy traders are still sceptical about how quickly China’s crude demand will bounce back this quarter.
In Europe, business activities made a surprise return to modest growth in January, S&P Global’s flash Composite Purchasing Managers’ Index (PMI) showed.
However, British private sector economic activity fell at its fastest rate in two years.
For economies in the six-member Gulf Cooperation Council (GCC), they will grow this year at half the rate of 2022 as oil revenues take a hit from an expected mild global slowdown, analysts noted.
Also, a panel of the Organisation of the Petroleum Exporting Countries and its allies, OPEC+, is likely to endorse the producer group’s current oil output policy when it meets next week.
This is as hopes of higher Chinese demand continue to drive an oil price rally are balanced by worries over inflation and a global economic slowdown. Strong demand figures from China are fuelling optimism in the markets.
This spurred investment bank, JP Morgan, to raise its forecast for Chinese crude demand but maintained its projection for a 2023 price average of $90 a barrel for Brent crude.
The bank added that it would be difficult for oil prices to reach the $100 mark again except if there is any major geopolitical event.
Crude oil inventories rose by 3.378 million barrels, American Petroleum Institute (API) data showed on Tuesday.
US crude inventories increased by 13 million barrels last year, according to API data, while crude stored in the nation’s Strategic Petroleum Reserves sunk by 221 million barrels.
The market will be waiting for official figures from the Energy Information Administration (EIA), which are due on Wednesday.
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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