Economy
Prices Remain Bullish on Positive Oil Demand Outlook
By Adedapo Adesanya
Oil prices continued their bullish stand on Thursday, holding close to their highest in almost three years as the market continues to get support from the draws in crude inventories in the largest producing nation in the world, the United States.
The Brent crude added 6 cents or 0.07 per cent to trade at $75.61 per barrel yesterday while the United States West Texas Intermediate (WTI) made a 0.07 per cent or 5 cents gain to trade at $73.35 per barrel. This means that both benchmarks had hit their highest since October 2018.
The higher prices are welcomed news for the oil markets and can largely be attributed to falling US inventories, which means that there is a better oil demand outlook.
Prices also drew support from doubts about the future of the 2015 Iran nuclear deal that could end US sanctions on Iranian crude exports.
The US Government State countered a statement made by a senior Iranian official that the country had agreed to lift all sanctions on Iran’s oil and shipping industry.
It was reported that the issues were still under negotiation and nothing had been agreed upon despite claims by Iran that an agreement has been reached to remove all insurance, oil and shipping sanctions that were imposed by former US President Donald Trump.
The end of sanctions and a return of Iranian barrels could return one million barrels to the global oil market.
Data from Europe’s largest economy, Germany, also helped prices with the largest jump in retail conditions recorded since its reunification more than three decades ago. This lent support to expectations that European fuel demand will recover.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) has been discussing a further unwinding of last year’s record output cuts from August but no decision has been made yet ahead of their next meeting on July 1.
However, the Indian Oil Minister, Mr Dharmendra Pradhan, called on the cartel to phase out crude output cuts as high prices are fuelling inflation.
In a series of tweets after a virtual meeting with OPEC Secretary-General, Mr Mohammad Sanusi Barkindo, he said oil prices should remain within a reasonable band to encourage a consumption-led recovery from the coronavirus pandemic.
India is the world’s third-biggest oil importer and consumer; it relies on overseas supplies for over 80 per cent of its oil needs.
This is similar to issues raised by Mr Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), who warned that rather than being a positive development, the rising prices of crude oil in the international market could cause major challenges for resource-dependent nations like Nigeria.
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