Economy
Demand Worries to Further Impact Oil Prices This Week
By Adedapo Adesanya
Expectations for improvement to crude prices were heavily weighed down last week by worries in demand as the hopes created by a massive production cut did not do anything for the market.
This week may yet continue to see the same problems and have huge negative impact on prices. Last week, prices fell to their worst level in over 20 years.
The largest problem affecting demand is the coronavirus and it has and will continue to affect the oil market, putting oil companies and by extension economies at risk.
Even with over 10 percent of global supply halted and to begin next month, the largest in history, nothing came from the news of reduction in cuts as prices reached lower levels.
More problem arose as forecast from the International Energy Agency (IEA) tagged April as the worst month for oil this year, after a drop in demand by 29 million barrels, the largest since 1995.
Relatively, it projected that demand will drop 9.3 million barrels per day for 2020 as there is no enough cut that can help improve demand because of the coronavirus factor.
The output cap implemented by oil producers may begin to make a difference for the market by June, but for the remaining two months in the first half of the year, volatility is expected to mar the market.
This is because storage tanks are expected to top out in May, and with the traders in NP hurrying to buy crude because of limited facilities to store them, prices are expected to face south.
Even if prices will go up this week, they won’t matter much and will still remain in bottom levels. Right now, unless there is a reduction to number of coronavirus and opening of the economy, the market is not too hopeful.
Further, an extension to cut by up to 20 percent could as well bring some good news, but that is not possible at the moment as the next meeting by producers have been slated for June.
As at press time, the international benchmark, Brent Crude, was trading down at $27.39 per barrel, while the US West Texas Intermediate has fallen to its worst level since 1998, trading below $15 at $14.80 per barrel.
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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