Consumertrics

DisCos using estimated billing for 57% electricity consumers: NERC

Energy /

The Nigerian Electricity Regulatory Commission (NERC) says 57.07 per cent of electricity consumers in the country were on estimated billing as of September 2021. NERC disclosed this in its Third Quarter Report 2021 obtained on Tuesday from its website. The document showed that only Ikeja, Benin, Enugu and Port Harcourt electricity distribution companies had metered […]

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CBN tackles rising inflation by raising interest rate to 14 per cent

Finance /

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised lending benchmark (interest rate) from 13 to 14 per cent. The decision, according to the committee, aims at tackling the rising inflation in the country. The inflation trend, as at June, reached a five-year high at 18.60 percent. This is the second

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Ikeja Electric completes customers information system upgrade

Energy /

Electricity consumers being covered by Ikeja Electric can now recharge their energy credits. The power distribution company had last week announced it would be upgrading its Customer Information System to enable it deliver better services to consumers. As a result, the company was unable to attend to customer accounts enquiries while its vending and information

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Afreximbank sponsors training of 200 young entrepreneurs  

Uncategorized /

The African Export-Import Bank (Afreximbank) says it has given a grant to the Grand Africa Initiative (GAIN) to enable it train 200 young African entrepreneurs. The training, starting July, focuses on entrepreneurship and intra-African trade, and it will last three months. Benefits to participants are acquiring skills on how to grow and expand their businesses

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AfDB, SEC deploy $460,000 surveillance camera to protect capital market

Finance /

The African Development Bank (AfDB) Group has given a grant of $460,000 to the Securities and Exchange Commission (SEC). The grant is to enable SEC acquire an automated surveillance system meant to protect the capital market. The bulk of the funding agreement is expected to come from SEC itself. Lamin Barrow, the director-general, Nigeria Country

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Aero Contractors suspend operations over rising price of aviation fuel

Uncategorized /

Aero Contractors has suspended its operations, due to rising price of aviation fuel. The airline revealed this in a statement it issued on Monday. “This decision was carefully considered and taken due to the fact that most of our aircraft are currently undergoing maintenance, resulting in our inability to offer a seamless and efficient service

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Hard time for consumers over fresh petrol price hike

Uncategorized /

Nigerian consumers have been slammed with a hike in pump price of petrol. Consumertrics gathered that new price for Premium Motor Spirit, popularly known as petrol, will now be between N170/litre and N190/litre at filling stations across the country. Officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and oil marketers reportedly met Thursday,

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Ghana boosts consumer spending, cushion inflation with salary increase

Uncategorized /

The Ghanaian government has taken initiative that may see it boost consumer spending with the 15 per cent allowance being given to government employees. The allowance, designated as ‘base pay cost of living allowance’ (COLA), is to cushion the effects of high inflation in the country. This will be added to the workers’ basic salary,

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Zenith Bank holds International Trade Affair seminar July 20

Finance /

  Zenith Bank will be holding its international non-export trade fair seminar on July 20, 2022 at the Civic Centre, Victoria Island, Lagos. Moreover, participants are to join virtuallly. The seminar, titled ‘Unlocking Opportunities in Nigeria’s Non-Oil Export Business’, aims at supporting the Central Bank of Nigeria’s (CBN) non-oil export initiatives. Expected at the seminar

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