Business

BEDC Continues House Metering Across Four Coverage States

Published

6 years ago

December 7, 2019

In line with Nigerian Electricity Regulatory Commission (NERC)’s directive, Benin Eletricity Distribution Company (BEDC) PLC, Saturday, December 7th, continued it metering of houses at Aiguobasimwin Crescent and its environs, GRA, Benin City and other three coverage states of the company

The event which kick started across the four BEDC coverage states two weeks ago, is aimed at putting an end to estimated bill.

BEDC members of staff attending to customers on metering in Benin City on Saturday

Speaking to Info Daily on behalf of the Head, Corporate Affairs Unit of the BEDC, Mrs. Gloria Mbagwu, said after the metering of houses at the area, any house whose owner fails or refuses to come for enumeration and metering in the area would be disconnected.

“Before we came here, we made an announcement via Radio and Television stations,, including distribution of fliers to create awareness about this programme, so, we are here for business. I want to assure you that any house that fails to come for enumeration and there after metering will be disconnected. We are not coming back here. So, we will not hesitate to disconnect any building that refuses to comply”, she added.

Asaba: BEDC members of staff attending to customers who came for metering in Asaba, Delta State.

Mbagwu, however, noted that a desk has been created at the GRA customer care office to cater for complaints arising from the metering.

Responding to question on how long it takes to be metered, Mbagwu noted that it only takes 48 hours for a customer to be given a meter after passing through all the required processes.

Giving further enlightenment on simplicity of the process, she said “all what a customer needs to do is to come for registration and enumeration after which what is regarded clean up (Network clean up) will follow.

Akure: Metering in Akure

She added that clean-up is followed by registration and filling of MAP application form, there after debt reconcilation/rescheduling. She noted that the debt reconcilation stage was necessary so as to settle all discrepancies arising from underestimated or overestimated bill.

She explained that after a customer must have gone through the previous processes, members of staff of the BEDC would go to such customer’s premises for inspection and in readiness for metering.

According to her, after payment, the proper metering would take place.

Ado Ekiti: Members of BEDC staff attending to customers in Ado Ekiti.

Speaking to Info Daily shortly after being registered, a customer who wants his name not mentioned expressed satisfaction in the whole process.

He said though there was something BEDC has been doing to him in the past, has he came for the metering, personnels have been sent to his house and his complaint has been attended to without delay.

“I don’t want to be quoted in the media but I want to say so far so good, what I saw over there has been satisfactory to me. The people I met in the process are very polite and willing to listen to any of your complaint and attend to such.

“There has been something that I have been expressing displeasure over in my house regarding electricity, but as I came here and lodged the complaint, they have sent their electricians to my house and resolved it, so I am absolutely satisfied”, he added

Business

JUST IN: Dangote Refinery Hikes Petrol Ex-depot Price

Published

1 week ago

June 20, 2025

Editor

Nigerians may soon pay more for petrol as the Dangote Petroleum Refinery on Friday increased its ex-depot price for Premium Motor Spirit to N880 per litre, raising fresh concerns over fuel affordability and price volatility in the downstream sector.

Checks on petroleumprice.ng, a platform tracking daily product prices, and a Pro Forma Invoice seen by The PUNCH confirmed the hike, representing a N55 increase from the previous rate of N825 per litre.

The increment would ripple across the entire fuel distribution chain, likely pushing pump prices above N900/litre in some parts of the country, especially in areas far from the distribution hubs.

The hike comes despite global crude prices falling. Brent crude dipped by 3.02% to $76.47, WTI fell to $74.93, and Murban dropped to $76.97 on Friday. The decline in benchmarks offers little relief due to persistent fears of sudden supply disruptions.

The refinery has increased its reliance on imported U.S. crude and operational costs amid exchange rate instability, which adds to its pricing pressure.

On Thursday, the President of the Dangote Group, Aliko Dangote, said his 650,000-barrel capacity refinery is “increasingly” relying on the United States for crude oil.

This came as findings showed that the Dangote Petroleum Refinery is projected to import a total of 17.65 million barrels of crude oil between April and July 2025, beginning with about 3.65 million barrels already delivered in the past two months, amid ongoing allocations under the Federal Government’s naira-for-crude policy.

Dangote informed the Technical Committee of the One-Stop Shop for the sale of crude and refined products in naira initiative that the refinery was still battling crude shortages, which had led it to resort to imports from the United States.

On Monday, the president of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Festus Osifo, accused oil marketers of exploiting Nigerians through inflated petrol prices, insisting that the current pump price of PMS should range between N700 and N750 per litre.

He criticised the disparity between falling global crude oil prices and the stagnant retail price of petrol in Nigeria.

“If you go online and check the PLAT cost per cubic metre of PMS, convert that to litres and then to our Naira, you will see that with crude at around $60 per barrel, petrol should be retailing between N700 and N750 per litre.”

He asserted that if Nigerians bear the brunt of higher fuel costs, they should be allowed to enjoy the benefit of low pricing.

His forecast of increased costs now appears spot on, considering the latest developments.

Marketers are already adjusting. Depot owners and fuel distributors in Lagos and other cities anticipate a domino effect, with new price bands expected to follow Dangote’s lead.

Many had held back pricing decisions since Tuesday, when the refinery halted sales and withheld fresh PFIs. The delay fueled speculation, allowing opportunistic price hikes across various depots.

Business

Naira Appreciates At Official Market

Published

1 month ago

May 24, 2025

Editor

The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.

Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.

This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.

The local currency maintained consistent strength throughout the week, recording gains daily.

On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.

These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.

Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent.

Business

BREAKING: Again, Dangote Refinery Cuts Petrol Price

Published

1 month ago

May 22, 2025

Editor

The Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with new prices now ranging between ₦875 and ₦905 per litre, depending on location.

The ₦15 per litre cut applies across all regions and partner fuel stations, and was confirmed via an official announcement posted on Dangote Refinery’s social media channels on Thursday.

Major marketers participating in the new pricing regime include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy — partners in the distribution of Dangote-refined products.

Under the previous pricing structure, Lagos residents paid ₦890 per litre, while prices reached ₦920 in the North-East and South-South regions. With the latest adjustment, Lagos now pays ₦875 per litre, while the North-East and South-South will see prices drop to ₦905.

A regional breakdown of the revised prices is as follows: Lagos: ₦875, South-West: ₦885, North-West & Central: ₦895, North-East & South-South: ₦905 and South-East: ₦905.

In its announcement, Dangote Refinery encouraged consumers to purchase fuel only from authorised partner stations and urged the public to report any cases of non-compliance via its official hotlines: +234 707 470 2099 and +234 707 470 2100.

“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company said.