Economy
Oil Prices Climb on Snag in Russia-Ukraine Peace Deal
By Adedapo Adesanya
Oil prices settled higher on Wednesday after the US and Russia failed to reach a deal to end the war in Ukraine that could have eased sanctions on Russia’s oil sector.
Brent crude gained 22 cents or 0.4 per cent to finish at $62.67 per barrel and the US West Texas Intermediate (WTI) crude rose by 31 cents or 0.5 per cent to $58.95 per barrel.
Russia and the US failed to reach a compromise after a five-hour meeting between Russian President Vladimir Putin and a US delegation led by special envoy Steve Witkoff, according to the Russian government.
On a day of intense diplomatic efforts to end Europe’s largest and deadliest conflict since World War II, Ukrainian President Volodymyr Zelenskyy said there is a better chance “now than ever” to reach a deal. However, just before the talks, President Putin accused European governments of trying to block the peace process and warned if Europe wants to start a war with Russia, it was ready to fight.
The outcome of the talks could lead to the removal of sanctions on Russian companies, including major oil companies Rosneft and Lukoil, a deal that would free up restricted oil supply.
Meanwhile, US crude, gasoline and distillate stocks rose last week, the Energy Information Administration (EIA) said on Wednesday, adding to fears of an oversupply.
Crude oil inventories in the US increased by 600,000 barrels during the week ending November 28, after adding 2.8 million barrels in the week prior. The increase brings commercial stockpiles to 427.5 million barrels according to government data, which is 3 per cent below the five-year average for this time of year.
For total motor gasoline, the EIA reported that inventories had increased by 4.5 million barrels, on top of the 2.5 million barrel gain in the week prior. The most recent figures showed average daily gasoline production increasing to 9.8 million barrels. For middle distillates, inventories increased by 2.1 million barrels, with production increasing by 53,000 barrels daily to an average of 5.1 million barrels daily. Distillate inventories are now 7% below the five-year average for this time of year.
Traders also leaned into the 2026 messaging by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) and a softer Dollar.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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