Economy
Oil Falls After US, China Sign Trade Deal
By Adedapo Adesanya
Prices of oil declined on Wednesday as American President Donald Trump and Chinese Vice Premier Liu He signed an initial trade deal in Washington DC to stop the trade war between both nations that has affected the global markets and cut into economic growth.
Last night, the Brent crude was trading down by 21 cents or 0.33 percent at $64.25 per barrel, while the West Texas Intermediate crude shed 21 cents or 0.36 percent to settle at $58.02 per barrel.
This signing of the deal means China will double its purchases from American farmers worth $12.5 billion in the first year and then an additional $19.5 billion in the second year. In addition, the Chinese is expected to open its markets to foreign firms and provide strong new protections for trade secrets and intellectual property.
The 86-page agreement comes after 18 months of negotiations and tariff wars between the world’s two largest economies.
However, this news did not lift the market on Wednesday as investors confidence waned even after weekly government data revealed that US inventories dropped.
Data from the Energy Information Administration (EIA) also did not nothing to help the market despite showing that crude inventories fell by 2.5 million barrels till Friday, January 10.
It had earlier been projected by the S&P Global Platts survey that the stockpile would rise by 500,000 barrels, while the American Petroleum Institute (API) on Tuesday reported an increase of 1.1 million barrels.
Analysts believe that prices may extend losses if the trade deal does not satisfy market expectations and leaves investors with more questions than answers especially with the vague details of the deal.
Prices were also hit by a report from the Organization of the Petroleum Exporting Countries (OPEC) that the group expected lower demand for its oil in 2020 amid rise in global demand as rival producers grab market share.
The oil cartel increased its 2020 world oil demand growth forecast by 140,000 barrels to 1.22 million barrels a day, while also projecting a rise in its global economic growth forecast to 3.1 percent for the year ahead. It also noted that output in the United States was expected to rise in 2020.
“The continued accommodative monetary policies, coupled with an improvement in financial markets, could provide further support to ongoing increases in non-OPEC supply,” OPEC said in the report.
OPEC and some non-OPEC allies such as Russia have been curbing production by 1.7 million barrels after signing an agreement to prevent an oil glut and support oil prices above $60 per barrel in December with the deal set to expire in March.
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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