Economy
Oil Trades Mixed as OPEC+ Meeting Ends in Deadlock
By Adedapo Adesanya
The Organisation of the Petroleum Exporting Countries and allies (OPEC+) postponed its meeting to decide the return of more barrels to the market and this made oil prices to close mixed on Friday.
While the Brent crude futures traded higher by 0.33 per cent or 0.44 per cent at $76.17 per barrel, the United States West Texas Intermediate futures closed lower by 7 cents to $75.16 per barrel.
OPEC and non-OPEC ministers finished their delayed meeting without a resolution on Friday and will meet again on Monday on oil output policy. The United Arab Emirates (UAE) delayed a deal as it demanded a higher production quota.
On Thursday, before the meeting of the OPEC+ producers was postponed for the next day, prices rose on reports that Russia and Saudi Arabia had reached a preliminary deal to add more barrels to global supply.
The size of the proposed production increase was lower than most analysts had expected, coming in at an average monthly addition of 400,000 barrels per day, whereas expectations had been for 500,000 barrels per day.
Since Saudi Arabia and Russia had agreed, most of the allies were expected to accept, except for the UAE, which disagreed with easing cuts and sought an extension to their quota till the end of next year.
The Middle East giant opposed these plans on the grounds that OPEC+ should change the baseline for cuts, effectively raising its production quota.
Analysts warned that if the alliance doesn’t reach a decision on Monday, it could be fatal for the oil market, bringing back a fate that happened last year when prices crashed to subzero levels.
The market also assessed fuel demand concerns in parts of Asia where cases of the highly contagious COVID-19 Delta variant are surging.
The highly contagious Delta variant of the coronavirus is surging through Asia this week, with record numbers of infections in Australia and South Korea, prompting some countries to tighten curbs and others to hasten vaccination.
The variant, first detected in India in December last year, has spread to about 100 countries and the World Health Organisation (WHO) warned recently that it could soon become the dominant form of the virus. It is also driving a spike in cases in Japan.
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