Economy
Oil Depreciates Amid US, Chinese Economic Worries
By Adedapo Adesanya
Oil depreciated on Friday, falling for the third consecutive week, as the market balanced supply fears against renewed economic concerns in the United States and China.
Brent crude futures lost 81 cents or 1.1 per cent to trade at $74.17 per barrel, while the US West Texas Intermediate (WTI) US crude futures fell by 83 cents or 1.2 per cent to $70.04 per barrel.
For the week, both crude oil benchmarks went down by more than 1 per cent.
The US Dollar was headed for its biggest weekly gain since February, as uncertainty around the US debt ceiling and monetary policy prompted a shift to safe havens.
A stronger greenback makes dollar-priced oil more expensive for holders of other currencies.
Concern mounted that the US – the world’s biggest oil consumer – will enter recession, with talks over the US government’s debt ceiling postponed.
A debt limit meeting between US President Joe Biden and top lawmakers that had been scheduled for Friday was postponed, sending jitters across markets.
The leaders have agreed to meet early next week.
The US federal government could run out of money to pay its bills as soon as June 1, the Treasury said, unless the debt ceiling is raised.
There are worries over another crisis-hit regional bank after Los Angeles-based lender, Pacwest Bancorp, said its deposits declined and that it had posted more collateral to the US Federal Reserve to boost its liquidity.
The US central bank will probably need to raise interest rates further if inflation stays high, Fed Governor Michelle Bowman said on Friday, adding that data this month has not convinced her that price pressures are receding.
Meanwhile, China’s April consumer price data rose at a slower pace than in March, missing expectations, while deepening factory-gate deflation refocused doubts about its recovery from COVID restrictions driving oil demand growth.
Meanwhile, Chinese oil demand is now expected to rise by 800,000 barrels per day, according to the Organisation of the Petroleum Exporting Countries (OPEC), up from the 760,000 barrels per day forecast last month, adding to a recovery after strict COVID-19 containment measures were scrapped.
This came as it expects world demand to remain steady at 2.33 million barrels per day in 2023.
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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