Economy
Oil Prices Down on US-Iran Talks Progress, Tariffs Headwinds
By Adedapo Adesanya
On Monday, oil prices fell by nearly 3 per cent on signs of progress in talks between the United States and Iran, while investors remained concerned about economic headwinds from tariffs that could curb fuel demand.
Brent crude depreciated during the session by $1.93 or 2.8 per cent to $66.03 a barrel and the US West Texas Intermediate (WTI) crude fell by $1.69 or 2.6 per cent to $62.99 a barrel.
The market had closed last Thursday and could not trade on Good Friday because of a public holiday for Easter.
The US-Iran talks seem relatively positive, which allows for people to start thinking about the possibility of a solution.
Iranian Foreign Minister Abbas Araghchi also said in a post on X that the talks made “progress on principles and objectives of a possible deal” but warned that “optimism may be warranted but only with a great deal of caution.”
This came after further sanctions by the US last week against a Chinese independent oil refinery that it alleges processed Iranian crude, ramping up pressure on Iran.
Lingering concerns about a global trade war also weighed on oil prices as traders await signs of progress from President Donald Trump’s trade talks.
Potentially adding to the worries, China has threatened to retaliate against any countries that reach a trade deal with the US at the expense of China’s interests. This put more pressure on traders.
Markets also came under stress on Monday after US President Donald Trump repeated criticisms about the Federal Reserve.
Last week, the American President threatened to fire Mr Jerome Powell as the head of the US central bank over the country’s monetary policy.
The US economy could slow down unless interest rates are lowered immediately, President Donald Trump said on Monday.
Meanwhile, the Organisation of the Petroleum Exporting Countries and allies such as Russia, collectively known as OPEC+, is still expected to increase output by 411,000 barrels per day starting in May.
Some of that increase may be offset by cuts from countries that have been exceeding their quotas including Iraq and Kazakhstan.
Last week, seven oil-producing nations cut output by a further 369,000 barrels per day in monthly steps between now and June 2026, compared with an earlier plan running from March until next June.
Under the latest plan, monthly cuts will range from 196,000 barrels per day to 520,000 barrels per day from this month until June 2026, up from between 189,000 barrels per day and 435,000 barrels per day previously.
Should the latest cuts be made in full, the compensation plan would to a large extent offset a planned 411,000 barrels per day output increase being made by other members of OPEC+ in May, providing additional support for the oil market.
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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