Economy
High Jet Fuel Demand Spikes Crude Oil Prices
By Adedapo Adesanya
Crude oil prices rallied by more than 3 per cent on Thursday as data showed that there is a steady demand for jet fuel as commercial flights show improved numbers after being hit by the coronavirus pandemic.
As a result of this, the price of the Brent jumped by 3.38 per cent or $2.12 to $64.86 per barrel, while the West Texas Intermediate (WTI) moved up by $2.29 or 3.87 per cent to $61.45 per barrel.
According to reports, the number of commercial flights looks to have hit a post-pandemic high in the past days and this may have been caused by the desire of people to travel for the Easter holidays.
This was better than the previous high from Christmas travels and the market interpreted this as a good sign for jet fuel demand going forward.
According to global flight tracking service, Flightradar24, cited by Bloomberg, the 7-day rolling average of the number of flights tracked hit the highest on Wednesday since the start of the pandemic.
Flightradar24 tracked a total of 77,708 flights—both passenger and freight—a number which exceeded the previous peak during the Christmas holidays since COVID-19 started spreading.
The higher numbers of flights were recorded in the major markets of the United States and China as they both make up a large percentage of the global population.
This occurred as the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) was still deliberating the next step towards output cuts for the month of May at its meeting.
The OPEC+ alliance is reportedly debating raising its oil output by 350,000 barrels per day in each of May and June and by 400,000 barrels per day in July.
There had been indications of a rollover of the current cuts or just a slight increase in view of the recent weakness in oil demand with European lockdowns but that remains to be seen at press time.
There have been speculations that there would be an increase in the group’s production over the next three months.
Saudi Arabia was also reportedly submitting a plan to ease its extra unilateral cut of 1 million barrels per day over the course of the summer. According to OPEC+ sources, the Kingdom will loosen its additional voluntary one million barrels per day cut by 250,000 barrels per day in May, 350,000 barrels per day in June, and 400,000 barrels per day in July.
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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