Economy
Oil Prices Drop on Strong US Dollar, Weak Demand Outlook
By Adedapo Adesanya
Oil prices moderated by about 1 per cent on Friday on worries that a strong US Dollar and negative economic news from some parts of the world could hit global demand growth.
Consequently, Brent futures fell by 47 cents or 0.6 per cent to $85.24 per barrel and the US West Texas Intermediate (WTI) futures depreciated by 56 cents or 0.7 per cent to trade at $80.73 per barrel.
Prices declined despite signs of improving US oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.
For the week, both crude benchmarks were up about 3 per cent after gaining about 4 per cent last week.
The US Dollar rose to a seven-week high versus a basket of other currencies with the Federal Reserve’s patient approach to cutting interest rates contrasting with more dovish stances elsewhere.
In 2022 and 2023, the US central bank raised interest rates significantly to rein in a spike in inflation. Higher interest rates increase the cost of borrowing for both individuals and companies, which may impede economic expansion and lower the demand for oil.
A higher US Dollar may also lower the price of goods like oil that are valued in the greenback for holders of other currencies, thereby lowering the demand for oil.
The largest oil-consuming nation in the world saw a slight increase in economic activity in June, reaching a 26-month high on the back of a comeback in employment. However, pricing pressures significantly decreased, raising hopes that the current downturn in inflation would continue.
This month saw a severe slowdown in company growth inside the eurozone as demand decreased for the first time since February.
China, the second-largest oil consumer in the world, issued a warning, citing the possibility of a trade war as a result of growing tensions with the European Union over imports of electric vehicles.
Tensions in geopolitics rounded out the muddled picture as its Ukraine drones targeted radar sites, four oil refineries, and other military installations in Russia.
Also, the leader of Lebanon’s Hezbollah party threatened Cyprus, a member of the European Union, and promised to go to war with Israel if there was a cross-border battle.
As a result of severe rains shutting down a crucial pipeline and oil wells, the state-owned oil firm Petroecuador in Ecuador has declared a force majeure regarding the delivery of Napo heavy crude for export.
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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