The Institute of Directors, IoD, Nigeria, penultimate week, embarked on a health walk tagged “Walk For Life” (WFL) to ensure healthy living among directors and participants. The fitness exercise which lasted for about 1hr, 45minutes took off from IoD’s office at 53 Glover Road, Ikoyi-Lekki, with participants going through Malverton and Alexander roads, across Lekki/Ikoyi Bridge.

The Pharmaceutical Society of Nigeria, PSN, has reaffirmed its call to the Federal Ministry of Health to halt the commercialisation of pharmacy facilities in Federal Health Institutions once and for all in the interest of national health. Making the call, in a petition to the Minister of Health, Dr. Khaliru Alhassan, the PSN President, Pharm. Olumide Akintayo, said rather than abate, the tendencies and flair for vindictive actions targeted against pharmacists and the profession of pharmacy has continued unchecked at the University of Benin Teaching Hospital, Benin and Federal Medical Centre, Owerri.

“U.S. production growth is beginning to slow down and demand is looking quite good for the year, so the combination of all of that means that probably price, if anything, moves up a little bit,” Taylor said. Prices “overreacted to the downside” and the slump is now “behind us,” Torbjorn Tornqvist, the chief executive officer of Gunvor, said at the same Lausanne event. The company handles more than 2.5 million barrels of crude and fuels each day, meaning it’s among the world’s five largest independent traders, according to data compiled by Bloomberg.

Tony Hayward, the former BP chief executive who runs Iraqi Kurdistan-focused Genel Energy, said oil prices are set to soar as OPEC has taken just six-months to stop the US shale oil boom in its tracks. Speaking at the FT Commodities Global Summit in Lausanne, Switzerland, Mr Hayward said the Organization of the Petroleum Exporting Countries had shown itself to be “the most successful cartel in history”, predicting oil prices would soon return to near $80 a barrel.

INDUSTRY leaders at the World Economic Forum on East Asia have said they expect oil prices to rise further. The leaders, meeting in the Indonesian capital, Jakarta, said the long-term view was that demand for oil is growing. Oil prices are around their highest levels for the year. The price of Brent crude was at $63 a barrel on Tuesday, up 40% from its January low of $45 a barrel and near its high for the year of $65.