Economy
Oil Prices Rebound Amid Chinese Demand, Supply Tightness
By Adedapo Adesanya
Oil prices bounced back from early losses amid supply tightness and hope for rising Chinese demand, as Brent crude rose by 50 cents or 0.6 per cent to $86.33 per barrel, and US West Texas Intermediate (WTI) crude futures up by 94 cents or 1.2 per cent to $80.62 per barrel.
Earlier in the session, both benchmarks had declined by more than $1 per barrel after China on Sunday set a lower-than-expected 5 per cent gross domestic product (GDP) growth target for this year, down from last year’s 5.5 per cent target.
China’s GDP grew last year by only 3 per cent.
After digesting the disappointment, oil markets seem to have come to terms with the fact that last year, Chinese GDP expanded by only 3 per cent, putting this year’s expected 5 per cent into better perspective.
Also putting downward pressure on oil prices earlier on Monday were concerns in advance of testimony scheduled for later this week by US Federal Reserve Chairman Jerome Powell.
The US central bank helmsman will testify to Congress on Tuesday and Wednesday, and he is likely to be quizzed on whether larger increases were needed in the world’s biggest oil-consuming country.
Concerns about the level of an increase in oil demand sparked by a Chinese reopening have been contested with concerns about a future of tight supply.
Oil was supported by top crude exporter Saudi Arabia raising prices for the flagship Arab light crude it sells to Asia for a second month in April, as well as a weaker US Dollar.
This is the second consecutive month with higher prices for Saudi crude. Last month’s hike came as a surprise as it was the first time in six months that Aramco had hiked prices for its crude.
The March price hike also came amid falling crude oil prices on international markets, which was what made the move surprising, along with the fact that a month ago Aramco had reduced prices.
A weaker greenback makes dollar-denominated crude cheaper for foreign buyers and boosts demand.
The Dollar index bounced off a nine-month low of 100.80 in early February as strong data and still-high inflation leads investors to reprice for higher rates for longer. The index dropped 0.26 per cent on the day at 104.35.
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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