Economy
Oil Prices up on Possible Limited Supply From Fresh Sanctions
By Adedapo Adesanya
Oil prices went up on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand, with Brent crude futures increasing by 75 cents or 0.98 per cent to $77.05 per barrel and the US West Texas Intermediate (WTI) crude futures grew by 69 cents or 0.94 per cent to $74.25 a barrel.
The US on Tuesday ramped up sanctions on Iran, targeting 35 entities and vessels it said carried illicit Iranian petroleum to foreign markets as part of what the US Treasury Department called Tehran’s “shadow fleet.”
The sanctions build on those imposed on October 11 and come in response to Iran’s October 1 attack on Israel and to its announced nuclear escalations, the Treasury Department said in a statement.
The move generally prohibits US individuals or entities from doing business with the targets and freezes US-held assets.
Meanwhile, cold weather in the US and Europe boosted heating oil demand, though oil price gains were capped by global economic data.
Eurozone inflation accelerated in December, an expected blip that is unlikely to derail further interest rate cuts from the European Central Bank.
Market analysts noted that the higher inflation in Germany raised suggestions the European Central Bank (ECB) may not be able to cut rates as fast as hoped across the bloc.
Market participants await more economic data, including the US December non-farm payrolls report on Friday.
On the supply end, a member of the Organisation of the Petroleum Exporting Countries and its allies, OPEC+, South Sudan, will resume oil production on Wednesday after Sudan lifted the force majeure on the pipeline route through Sudan and onto Port Sudan on the Red Sea.
Earlier this month, Sudan lifted the 10-month-long force majeure on the oil flows from landlocked South Sudan through its neighbor to the north, Sudan, following new security arrangements and improved security conditions.
In March 2024, Sudan declared force majeure on crude oil exports from its South Sudan, following a major rupture in the pipeline carrying crude from South Sudan to the port in Sudan in an area with active military activity.
The American Petroleum Institute (API) estimated that crude oil inventories in the United fell by 4.022 million barrels for the week ending January 3. For the week prior, the API reported a draw of 1.442-million-barrel in US crude oil inventories in the midst of build season.
In 2024, crude oil inventories dropped by more than 12 million barrels, according to the API’s inventory data.
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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