Economy
Weak Economic Data Weakens Crude Oil Prices
By Adedapo Adesanya
Crude oil prices continued its steady fall on Tuesday as weak US economic data lowered crude’s demand outlook, while reports of an output decline from the world’s largest oil producers in the third quarter of the year kept prices from falling further.
Brent crude dropped 33 cents or 0.56 percent to $58.92 per barrel, while US West Texas Intermediate (WTI) crude lost 46 cents equivalent to 0.85 percent to trade at $53.61 per barrel.
The OPEC Basket was not exempted as its performance also weakened after shedding $1.42 or 2.27 percent to trade at $61.09 per barrel.
The data revealed that manufacturing activity tumbled to a more than 10-year low in September as the trade war between the world’s top largest economies, the United States and China weighed heavily on exports.
Output at the world’s two largest producers, the United States and Russia, according to the data showed fall in July and September respectively.
Russia’s output declined to 11.24 million barrels per day in September indicating a drop from 11.29 million barrels per day in the previous month, August.
As for the US, as at the time of this report, the American Petroleum Institute (API) was yet to release its data but data gathered by Business Post showed crude oil output fell 276,000 barrels per day in July to 11.81 million barrels per day while it peaked at 12.12 million barrels per day in April.
Also, crude production from the Organization of the Petroleum Exporting Countries (OPEC) fell to the lowest in eight years in September at 28.9 million barrels per day down 750,000 barrels per day from figures recorded in August and the lowest monthly total since 2011.
Reports also had it that the decline occurred as oil producing Ecuador revealed plans to cut its tie with the Organization of the Petroleum Exporting Countries, (OPEC) which will add more oil to the global market.
Ecuador has said that it will leave OPEC in January 2020 as its government seeks ways to boost revenue, In 2018, Ecuador’s crude output was at 517,200 barrels per day, with exports at 371,200 barrels per day.
However, Prices were already on dropping before the announcement from Ecuador on Tuesday.
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