Business

BEDC Promises Robust Service Delivery As Customers Lament

Published

4 years ago

November 18, 2021

Editor

The management of Benin Electricity Distribution Company, BEDC, Plc, says it has make provision for not less than 27 channels designed for speedy resolution of customers complaints across it 27 business units in its four franchise states of Edo, Delta, Ekiti and Ondo.

Chief Head, BEDC, Edo, Mr Abel Enechaziam, who disclosed this in Benin, Wednesday, at a programme tagged ‘Consumer Complaint Resolution Platform organised by the Federal Competition & Consumer Protection Commission, FCCPC, and supported by MacArthur Foundation’, said these 24 channels were put in place in order to resolve customers complaints speedily.

He added that, on before they took over the distribuion company, there was just one customer complaint channel, adding that it has been increased to 27 to make sure complaints are resolved as when due.

While stating that the distribuion company is doing all within its power to resolved all complaints before it, Mr Enechaziam added that out of the over 459,000 complaints the company received this year, over 455,000 had been treated.

He said, “A lot of things are being done to make sure that our customers are happy though we have complaints which we are trying all our best to resolve. (Sic)

“This year alone, BEDC has received over 459,00 customers complaints, we track such complaints and attention has been given to over 455,000.

“Before we came on board, the distribuion company had just one customer complain channel, but now we have ensure that all our 27 business units have customer complain channel.”

He urged customers to chennel their complaints to the approriately channel rather than depending on a friend who works there.

Earlier at the event, customers had decried alleged outrageous billing and high tarrif according to them the company had subjected them to.

Earlier, in his opening remarks, Executive Commissioner, Operations, FCCPC, Dr Adamu Abdullahi, said the event was organised to interface BEDC with its customers with a view to resolving complaints brought to the forum.

He ordered that “Cases brought here must be treated and completely resolved. We also want timeline to be adhered strictly, and any disregard to this directive will be view seriously by the FCCPC as insubordination.”

Business

Naira Appreciates At Official Market

Published

2 weeks 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

3 weeks 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.

Business

Naira Appreciates Against Dollar At Foreign Exchange Market

Published

3 weeks ago

May 17, 2025

Editor

The Naira ended the trading week on a positive note, recording a bullish close on Friday at the official foreign exchange market.

It appreciated N1,598.72 against the U.S. Dollar, reflecting a modest gain that suggests continued efforts to stabilise the local currency.

According to figures published on the Central Bank of Nigeria’s official website, the Naira strengthened by N0.60k against the Dollar on Friday.

This upward movement represents a 0.03 per cent appreciation compared to the N1,599.32 exchange rate recorded at the close of trading on Thursday.

The local currency had shown some resilience earlier in the week, posting gains on both Tuesday and Wednesday trading sessions.

On Tuesday, the Naira appreciated by 0.02 per cent, followed by a stronger gain of 0.21 per cent on Wednesday.

These improvements were seen as positive indicators of growing investor confidence and increased supply in the foreign exchange market.

However, Thursday’s trading session saw a minor setback, with the Naira slipping by N2.62 against the Dollar.

This loss equated to a 0.16 per cent depreciation, dampening the midweek rally seen in previous sessions.

Market analysts attributed Thursday’s dip to a brief increase in Dollar demand from importers and other market participants.

Despite this, the week still closed on a positive note, with the Naira showing signs of gradual recovery and increased market stability.

Analysts continue to monitor the Central Bank’s policies, especially interventions aimed at improving Dollar liquidity and managing demand pressures.

The Naira’s performance in the coming weeks will likely depend on consistent supply inflows and investor sentiment across the broader economic landscape.