Economy
Russia-Ukraine Peace Talks Depress Oil Prices
By Adedapo Adesanya
Oil prices continued southwards on Tuesday as talks progressed between Russia and Ukraine as both parties look to end their month-long conflict.
Brent crude lost 1.1 per cent or $1.24 to sell at $111.2 per barrel while the United States West Texas Intermediate (WTI) depreciated by 1.62 per cent to trade at $104.2 per barrel.
Ukrainian and Russian negotiators met in Turkey for the first face-to-face discussions in nearly three weeks.
The market reacted after the top Russian negotiator said the talks were constructive and promised to reduce its military operations around Kyiv and northern Ukraine.
On its part, Ukraine proposed it would keep a neutral status and would not join alliances or host troops of other countries on its territory. Ukraine, however, wants international security guarantees to keep it from attacks.
According to Reuters, the leading Russian negotiator Vladimir Medinsky said he would review Ukraine’s proposals and report on them to Russian President Vladimir Putin.
Hopes of peace sent oil prices plummeting early on Tuesday, although it’s unclear whether sanctions against Russia could be removed anytime soon.
Sanctions imposed on Russia over its invasion of Ukraine have disrupted oil supplies, driving prices higher but they have since eased.
Prices also came under pressure after new lockdowns in Shanghai to curb rising coronavirus cases hit fuel demand in China, the world’s biggest importer.
Shanghai accounts for about 4 per cent of China’s oil consumption and lockdowns have dampened consumption of transportation fuels in China to a point where some independent refiners are trying to resell crude purchased for delivery over the next two months.
Analysts note that there are indications of weakness in global oil demand is expected to persist through April and May due to the three-pronged effects of Russia-Ukraine tensions, high oil prices and China’s COVID-19 situation.
The American Petroleum Institute (API) estimated that there was a draw this week for crude oil of 3.0 million barrels, compared to analyst predictions of a 1.558 million barrel draw.
U.S. crude inventories have shed some 80 million barrels since the start of 2021 and about 23 million barrels since the start of 2020.
In the week prior, the API reported a draw in crude oil inventories of 4.28 million barrels after analysts had predicted a build of 25,000 barrels.
Official Government inventory data from the US Energy Information Administration (EIA) is due on Wednesday.
Also, the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) is expected to stick to its plan for a modest output rise in May despite high prices and calls from the United States and other consumers for more supply.
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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