Economy
Nigeria’s Bonny Light Crude Trades at $64 as Qua Iboe Nears $66
By Adedapo Adesanya
Prices of crude oil closed mixed on Thursday as the global market for the commodity reacted differently to the signing into law a bill backing protesters in Hong Kong by President Donald Trump of the United States.
This act by the United States’ President fulled tensions with China, which is opposed to the protests that have lingered for months. The development came when hopes were high that both countries would sign the first phase of a trade deal.
This development, according to analysts, could deter both the United States and China who are set to hold conversation over a potential trade agreement that has affected oil demand globally.
Earlier in the day, the International benchmark, was trading down at $63.05 per barrel, while the US West Texas Intermediate (WTI ) crude was trading at $58 per barrel.
However, by 8pm Nigerian Time (GMT +1), the Brent crude futures were trading up at $63.27, rising by 26 Cents or 0.41 percent per barrel, while the WTI crude rose to 58.24 per barrel, gaining 13 cents equivalent to 0.22 percent.
Business Post reports that the Bonny Light crude produced by Nigeria remained at $64.04 percent yesterday, with the Qua Iboe still at $65.87 per barrel and the Brass River trading at $64.92 per barrel.
The United States and China were close to finally agreeing on the first phase of a trade deal as President Donald Trump said on Tuesday but with this latest development, China has warned that it would take firm countermeasures in response to the US legislation .
The global market which has been swayed by the US-China trade deal will face this as investors expressed concerns that the move might delay further a preliminary agreement between the United States and China to put an end to their trade war.
Early in the week, top negotiators from the both countries had spoken by telephone and agreed to keep working on remaining issues that bound them.
Following this, market analysts say that investors on suspecting that the trade agreement may face real danger, may begin a sharp sell-off in December.
Prices also dropped on the report by the Energy Information Administration (EIA) that stockpiles in the United States went up by 1.6 million barrels last week as production rose to a record 12.9 million barrels per day (bpd) which made refinery run slower.
Still on the supply side to aid the market, the Organization of the Petroleum Exporting Countries (OPEC) and Russia are looking to extend existing production cuts by another three months to June 2020 when they meet in December.
The cartel and its allies agreed to cut production output by 1.2 million barrels per day in a deal that would run till March 2020 but recently there was talks that the producers including Russia would extend this till June next year.
Meanwhile the latest news reported fhg Russian oil companies have proposed not to change their output quotas as part of the global deal until the end of March, putting pressure on OPEC+ to avoid any major policy change when they meet in December 5 in Vienna, Austria.
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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