Economy
Oil Marginally Down as Economic Worries Outweigh Mideast Supply Fears
By Adedapo Adesanya
The prices of the oil futures were marginally down on Tuesday after economic headwinds pressured investor sentiment, curbing gains from geopolitical tensions with eyes on Israel and its pending response to Iran’s attack over the weekend.
Brent crude futures for June delivery went down by 8 cents or 0.1 per cent to trade at $90.02 per barrel, and the US crude for May delivery fell by 5 cents or 0.1 per cent to end at $85.36 per barrel.
Speaking at an event held at The Wilson Center in Washington, US on Tuesday, the US Federal Reserve, Mr Jerome Powell, said the run of disappointing data from the world’s largest economy and oil producer showed stronger-than-expected inflation means the US central bank will likely need more time than previously thought to be confident that inflation is on the path to 2 per cent.
“The recent data have clearly not given us greater confidence, and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Mr Powell said.
Concerns that Iran would respond to Israel’s April 1 strike on its embassy compound in Damascus has helped push oil but prices retreated on Monday after the Iranian counter-attack on Israel over the weekend proved less damaging than anticipated.
Analysts noted that so far, markets appear rather chill to the rising tensions, and cautiously optimistic that Israel’s response will be restrained and that an all-out war will be sidestepped.
Israel postponed its third war cabinet meeting to Wednesday as Western allies eyed swift new sanctions against Tehran to help dissuade Israel from a major escalation.
The US Treasury Secretary, Ms Janet Yellen, said the US intends to hit Iran with new sanctions in coming days due to its unprecedented attack on Israel, and that these actions could seek to reduce Iran’s capacity to export oil.
Iran produces more than 3 million barrels per day of crude oil as a major producer within the Organisation of the Petroleum Exporting Countries (OPEC).
Meanwhile, President Ebrahim Raisi said Iran will respond to any action against its interests after Israel warned it would respond to its drone and missile attack.
Meanwhile, US crude oil inventories rose by 4.1 million barrels last week while gasoline (petrol) and distillates stockpiles fell by 2.5 million and 427,000 barrels respectively, according to market sources citing American Petroleum Institute (API) figures.
Official data from the US Energy Information Administration (EIA) will be released later on Wednesday.
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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