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Energy
Ikeja Electric warns customers not to pay staff for metering
Ikeja Electric Plc Customers are to decline paying the company’s staff for metering of their residence.
Ikeja Electric Plc has warned customers not to pay or give money to either Ikeja Electric staff or Meter Asset Provider (MAP) for meter and installation.
Customers are instead to send a mail to the customer care or call any of the helplines, seeking clarification on the metering of their residence.
This was contained in a press release signed by Felix Ofulue, the Head Corporate Communications at Ikeja Electric, and seen by Nairametrics.
The company stressed that “customers must always pay into the designated bank account provided by the MAP and they must always include their Application Reference Number (ARN) when making these payments”.
Due to the upward review of meter prices by the Nigerian Electricity Regulatory Commission (NERC), the new price for Single Phase Meter is now N48,263.37 (Forty-Eight Thousand, Two Hundred and Sixty Three Naira and Thirty Seven Kobo), while Three Phase Meter is now N89,069.33 (Eighty-Nine Thousand, Sixty Nine Naira and Thirty Three Kobo), the statement read.
All prices are inclusive of VAT and became effective from June 1, 2020,
The disco stated in the release that the customers who have paid for meters before June 1, 2020, under the MAP scheme, but yet to be metered should forward their payment evidence stating Account Name, Application Reference Number (ARN), and IE Account Number to [email protected] for prompt confirmation.
READ MORE: NERC to sanction 7 DisCos over uncapped estimated billing
This will enable them to be captured as the company sets to roll out 400,000 meters in the next two years.
Ofulue stated that this is in line with the mandate of the Nigerian Electricity Regulatory Commission (NERC) to bridge the metering gap and reduce the incidence of estimated billing, and urged customers to take advantage of this scheme to apply through the IE portal, using their Ikeja Electric’s account number on the bill to log into the portal and update their KYC (Know Your Customer) details.
According to him, the company has in the last two years distributed and installed 120,000 meters in its coverage area and intends to meter another 400,000 customers in the next 2 years.
“Apart from eradicating estimated billing, Ikeja Electric’s metering program has also provided jobs, directly and indirectly, for thousands of Lagosians and Nigerians in general, particularly during the lockdown” he said.
In spite of logistical challenges emanating from the Covid-19 pandemic, the company has also metered Maximum Demand (MD) customers in its network and conducted periodic recertifications of the meters in line with Regulatory procedures.
“In addition, the local distribution transformers have also been metered up to 100% while the metering of newly installed transformers after completion of the project is ongoing” he explained.
He noted that Ikeja Electric has set up a debt resolution panel in the Six Business Units to address complaints on outstanding bills and other related issues to ensure reconciliation while customers are processing the application for the meter.
Business
Malabu Oil Scandal: Prosecutors demand JPMorgan documents
U.S bank, JPMorgan has been ordered by a court to present documents of a transaction regarding the $1.3 billion Malabu oil field sale.
Prosecutors at the Milan Court holding a trial for the $1.3 billion Malabu oil field sale have demanded that U.S bank JPMorgan present documents of a transaction as part of the corruption case regarding the sale of the oilfield.
This was revealed in a report by Reuters, as the court case over the sale of the oil field continues. Prosecutors claim that nearly $1.1 billion was stolen by Nigerian politicians and middlemen, with former oil minister, Dan Etete, keeping half.
Prosecutors demanded that the Milan court accept emails sent by UK authorities, coming from a separate case launched by the Nigerian government against the bank for its role in the controversial deal.
The emails include a transaction between Nigerian Attorney General Mohammed Adoke Bello and JPMorgan using the address of a company owned by another Nigerian named Aliyu Abubakar. Prosecutors allege that he paid $500 million in cash as part of a bribe.
Both men have also been charged for corruption relating to the deal, with both pleading not guilty.
The second email includes two JPMorgan executives expressing views on whether to transfer $1.1 billion to accounts related to Nigerian banks. The Milan prosecutors said the emails were valid, stating that a Swiss and Lebanese bank had also expressed doubts over the transaction.
The Milan court said it would make a decision over the emails on the 3rd of February. The verdict of the court case is expected to be announced in March 2020.
What you should know
- Nairametrics reported that Dan Etete, former Nigerian Minister of Petroleum, said that the $1.3 billion sales of Malabu oil field to Shell and Eni in 2021 was legally perfect, with zero traces of corruption in the deal.
- Royal Dutch Shell announced that it would write down its investment in the controversial Malabu OPL 245 offshore field in Nigeria.
- Malcolm Brinded, an ex-Upstream Chief of Shell Petroleum, told international prosecutors that the sum of $1.3 billion paid by Shell and Eni in 2011 to acquire OPL 245 offshore field was lawful, and he had no reason to think it was illegal.
- A lawsuit filed by the Nigerian government against US bank JPMorgan Chase, claiming over $1.7 billion for its role in a disputed 2011 Malabu oil deal, will proceed to trial. The six-week trial in London is expected to commence on the first available date after November 1 2021, meaning that proceedings may not begin until 2022.
Energy
First cargo of Nigeria’s newest crude grade, Ayala, to arrive Europe
The first export cargo of Nigeria’s newest crude grade, Anyala, is reported to be on its way to Northwest Europe.
The first export cargo of Nigeria’s newest crude grade, Anyala, is reported to be on its way to Northwest Europe.
According to a report from S&P Global Platts, while quoting trading and shipping sources, the cargo is likely to travel from Fos-sur-Mer to the Cressier refinery in Switzerland through the SPSE pipeline.
It reported that Data Intelligence firm, Kpler, said the Aframax Minerva Clara loaded a 700,000 barrel stem of Anyala crude from the Abigail-Joseph floating production, storage, and offloading vessel on January 10 with the tanker on its way to the Fos-sur-Mer terminal, located at France’s Mediterranean port of Marseille.
The report also said that trading house Vitol had chartered this tanker, as it has a stake in indigenous producer FIRST E&P, which is the operator of the Anyala West oil fields, located in the shallow waters of the Niger Delta.
This is as a market source said the cargo is likely to travel from Fos-sur-Mer to the 68,000 b/d Cressier refinery in Switzerland, which is operated by Varo Energy, through the SPSE pipeline.
Varo Energy is a joint venture between Vitol, private equity fund, the Carlyle Group, and private investment fund Reggeborgh.
What you should know
- The new crude is from Nigeria’s shallow-water Anyala West oil fields in the Niger Delta, which struck first oil in November. Anyala is the country’s newest oil development since the start-up of the giant Egina field in late-2018.
- Anyala has been labeled a medium sweet crude grade, similar in quality to Nigeria’s flagship crude Bonny Light and when refined, Anyala will produce a high yield of middle distillates, making it attractive to both simple and complex refineries.
- It is also reported that a second cargo will load in March, with some Asian refiners already showing buying interest.
Energy
Price Watch: Consumers paid more for diesel and less for petrol in December
The December 2020 NBS report shows that consumers paid more for diesel and less for petrol than they did in November 2020.
The Price Watch report released by Nigeria Bureau of Statistics (NBS) for the month of December 2020 revealed that consumers paid more for Diesel (Automotive Gas Oil) and less for Petrol (Premium Motor Spirit), compared to that of November 2020.
The average price paid by consumers for diesel increased by 0.28%, from N223.74 in November 2020 to N224.37 in December 2020, while the average price paid by consumers for petrol decreased by 0.94% from N167.27 in November 2020 to N165.70 in December 2020.
Key highlights of the report
Diesel
- Consumers in Taraba (N266.00), Adamawa (N262.50) and Zamfara (N257.50) paid the highest average price for Diesel.
- While consumers in Kwara (N195.00), Gombe (N197.50) and Osun (N201.09) paid the lowest average price for Diesel.
- Overall, consumers in North West (N240.57), North East (N238.88) and North Central (N226.37) paid the highest average price for Diesel, while consumers in South West (N209.27), South East (N209.35) and South South (N216.25) paid the lowest average price.
Petrol
- Consumers in Abia (N176.19), Kwara (N172.43) and Kebbi (N169.92) paid the highest average price for petrol.
- While consumers in Kaduna (N155.00), Katsina (N160.25) and Bauchi (N162.57) paid the lowest average price for petrol.
- Overall, consumers in South East (N168.04), North Central (N166.94) and South South (N166.53) paid the highest average price for petrol, while consumers in North West (N163.79), North East (N164.47) and South West (N164.92) paid the lowest average price.
Since a lot of manufacturing companies rely heavily on diesel to power their machinery and equipment, the increase would have added to their cost of operations, culminating in consumers paying more for goods and services.
Also, one would have expected that the reduced price of fuel in December 2020 would lead to lower transport fares for commuters during the festive season, but that was not the case.
Oghale Samuel Paul
June 25, 2020 at 7:27 am
In respect of the prepaid meter, I have applied since March 2020 and It has been approved, since I have been expecting them for inspection making series of calls to the customer care line and sending mail and yet no response, what will I do?. My area is at Odogunyan, Ikorodu Lagos