Economy
Oil Trades Mixed as Possible Global Recession Breathes Down on Market
By Adedapo Adesanya
Oil prices traded mixed on Thursday as concerns remain about a potential global recession that would knock energy demand, with the Brent crude futures growing by 52 cents to settle at $107.14 a barrel and the United States West Texas Intermediate crude (WTI) falling by 84 cents to $96.42 a barrel.
The US economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years.
It is also fuelling concerns about a recession – a signal that would affect demand in one of the world’s largest oil-consuming nations.
This could deter the Federal Reserve from continuing to aggressively increase interest rates as it battles high inflation. The US central bank on Wednesday raised its policy rate by another three-quarter of a percentage point, bringing the total rate hikes since March to 225 basis points.
However, analysts note that in terms of demand and supply numbers for oil, the market is below average on supply while demand is holding up better than anticipated.
Investors focused on US oil data from the Energy Information Administration (EIA) on Wednesday that showed crude stockpiles fell by 4.5 million barrels last week, beating projections.
The Group of Seven richest economies aims to have a price-capping mechanism on Russian oil exports in place by December 5, a move that will heighten tension between Russia and the West, as the former continues to face pressure following its invasion of Ukraine in February.
Meanwhile, Russia has cut gas supplies via Nord Stream 1, its main gas link to Europe, to just 20 per cent of capacity. That could lead to switching to crude from gas and prop up oil prices in the short term.
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will consider keeping oil output unchanged for September when they meet next week, despite calls for more supply, although a modest output increase is also likely to be discussed.
OPEC’s Joint Technical Committee (JTC) meeting will be held next week on Tuesday (August 2), with the Joint Ministerial Monitoring Committee (JMMC) meeting scheduled for Wednesday (August 3) and the full OPEC+ Ministerial meeting will follow immediately after the JMMC meeting.
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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