Economy
Oil Prices Rise as UK, EU Strike Brexit Deal
By Adedapo Adesanya
Oil rose on Thursday, October 17, as a result of weaker dollar and the announcement that the United Kingdom and the European Union reaching a deal on Brexit.
The international benchmark Brent crude oil went up by 52 cents or 0.88 percent to trade at $59.94 per barrel, while the United States’ West Texas Intermediate (WTI) crude oil was also up 69 cents or 1.29 percent to settle at $54.05 per barrel.
Also, industry data showed a larger build-up in US inventories than what was expected as it went by 9.3 million barrels to 434.9 million barrels in the week to October 11, the US Energy Information Administration said.
Analysts had estimated that the United States’ crude inventories rose by around 2.8 million barrels last week.
On the new Brexit deal which helped limit the fall in oil prices, the United Kingdom Prime Minister Boris Johnson said that Britain and the European Union had agreed a “mnew Brexit deal and urged lawmakers to approve it at the weekend.
On his part, European Commission President Jean-Claude Juncker also confirmed that Britain and the EU had agreed a deal.
According to reports, The UK and EU agreed to a “backstop” – a guarantee there would be no return to a hard border between Northern Ireland and the Republic of Ireland with checks, police, or soldiers – because of decades of violence in Northern Ireland in the past.
The backstop could have meant Northern Ireland being treated differently from the rest of the UK – or, as in the final draft, the entire UK staying “aligned” with the EU.
Northern Ireland’s Democratic Unionist Party (or DUP) was fiercely against either option – and the party remains a key source of votes needed to get a deal done.
Also, the hopes of a potential US-China trade deal also supported crude prices as China’s commerce ministry said on Thursday that China hoped to reach a phased agreement with the United States as early as possible, and make progress on canceling tariffs on each others’ goods.
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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