Economy
Oil Prices up Amid Trump’s Sanctions Threat on Russia
By Adedapo Adesanya
Oil prices gained on Friday after the United States President, Mr Donald Trump, threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine.
The price of Brent crude went up by 90 cents or 1.3 per cent to $70.36 a barrel and the US West Texas Intermediate (WTI) crude appreciated by 68 cents or $1.02 to $67.04 per barrel.
President Trump said on Friday he is strongly considering imposing sweeping sanctions, including ones on banking, and tariffs on Russia until a ceasefire and peace agreement is reached with Ukraine.
The American leader had paused military aid and intelligence sharing with Ukraine to pressure it to accept a ceasefire deal after an explosive Oval Office meeting with Ukrainian President Volodymyr Zelenskiy a week ago.
This development comes after reports that the Trump administration is drawing up plans to potentially give Russia sanctions relief as part of its push to end the war and improve diplomatic and economic relations.
Russia, one of the world’s biggest oil producers, is already subject to over 20,000 sanctions imposed by the United States and partners after its invasion of Ukraine in February 2022.
Some of the plans include ways to ease sanctions on Russia’s energy sector, a move that could add more barrels to the market.
Russia’s Deputy Prime Minister Alexander Novak told reporters that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) group would go ahead with its April increase but may then consider other steps, including reducing production.
OPEC+ had said it intended to proceed with a planned April output increase, adding 138,000 barrels per day to the market.
In other supply news, the US aims to reduce Iranian crude exports to a trickle with Trump’s administration considering a plan to inspect Iranian oil tankers at sea.
The market calmed after President Trump suspended the 25 per cent tariffs he had imposed on most goods from Canada and Mexico until April 2, though steel and aluminum tariffs would still take effect on March 12.
Also in the US, job growth picked up in February and the unemployment rate edged up to 4.1 per cent. This has led to uncertainty and brings into focus what the Federal Reserves will do.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn