Economy
Oil Market Slides Amid Supply Surplus Concerns
By Adedapo Adesanya
The oil market depreciated on Friday as analysts projected a supply surplus next year on weak demand despite the decision by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to delay output hikes and extend deep production cuts to the end of 2026.
During the session, Brent crude futures shed 97 cents or 1.4 per cent to trade at $71.12 per barrel and the US West Texas Intermediate (WTI) crude futures lost $1.10 or 1.6 per cent to close at $67.20 a barrel.
For the week, Brent lost more than 2.5 per cent while WTI saw a drop of 1.2 per cent.
OPEC+ pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026.
Weak global oil demand and the prospect of OPEC+ ramping up production as soon as prices rise have weighed on trading.
The alliance had already postponed twice the beginning of the output increase. January 2025 was set as the point from which producers would begin to add supply, but that has since changed due to a slowdown in global demand – especially from top crude importer China.
OPEC+, which is responsible for 50 per cent of the world’s supply, will also face competition from rising output elsewhere, which has forced it to postpone the plan several times.
On Friday, Saudi Energy Minister, Prince Abdulaziz bin Salman said that the primary reason for OPEC’s deferral of the production increase to the start of the second quarter is that the first quarter in any year is a weak consumption period.
“The first quarter is not a good quarter to bring volumes,” Abdulaziz bin Salman said. “That quarter is known to be a quarter for building stocks.”
The deferral, while primarily motivated by fundamentals, would give OPEC+ a better view of China’s growth, Europe’s growth, US policy, interest rates, and inflation in key developed markets.
Bank of America forecast that increasing oil surpluses will drive the price of Brent to an average of $65 a barrel in 2025, while oil demand growth will rebound to 1 million barrels per day next year, the bank said in a note on Friday.
Also in a note, HSBC expects a smaller oil market surplus of 0.2 million barrels per day, from 0.5 million barrels per day previously.
Brent has largely stayed in a tight range of $70-$75 per barrel in the past month, as investors weighed weak demand signals in China and heightened geopolitical risk in the Middle East.
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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