Economy
Renewed Output Cut Talks Push Brent Closer to $35
By Adedapo Adesanya
Brent Crude went close to $35 per barrel on Friday after traders renewed hopes in the oil market, with talks of a cut in the work when oil producers meet on Monday.
Brent crude oil rose by 16.7 percent or $5.01 to $34.95 per barrel on Friday night while West Texas Intermediate crude oil rose 14.1 percent or $3.57 to $28.89 per barrel.
Prices started making upward movement on Thursday on indications that Saudi Arabia and Russia may end their oil price war following US intervention.
US President Donald Trump said he expected the two sides to cut supply, while Saudi Arabia called for an emergency meeting of members of the Organisation of the Petroleum Exporting Countries (OPEC) and other oil producers.
On its part, Russia indicated interest to join the discussion in cutting crude oil production to help global oil prices which have shed the highest ever drops recorded in history.
President Vladimir Putin said Friday Russia was willing to help stabilize the market by joining other countries in a cutting 10 million barrels of oil in output.
“I think we need to unite forces to balance the market and limit, with these coordinated actions, oil production,” he said.
Mr Putin noted that he had spoken on the phone with President Trump about oil markets, but did not specify whether they had discussed if the United States would join a production cut with OPEC and Russia.
Russia’s energy minister, Mr Alexander Novak, also said that Russia would join a conference call of OPEC and other oil-producing nations on Monday.
The market reaction to this news was positive as a cut of 10 million barrels per day would amount to about 10 percent of global output. Though minimal, it will at least postpone many worries about an inevitable oversupply to fill storages around the world.
Market analysts noted that there was too much oil, which does not correspond with enough demand. So, countries have to curb production. If they don’t do it, price pressures are going to force some producers to stop production.
In March, oil prices crashed more than 30 percent to their lowest level in nearly three years, following outcome of the meeting between OPEC, led by Saudi Arabia and its allies led by Russia, where the latter refused to agree to extra output cut.
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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