Oil consumption to rise to 400 000 bpd by 2023 — BMI
BUSINESS Monitor International has said the prices of oil consumption in Nigeria is expected to increase from 311 000 bpd last year to 400 000 bpd by the end of 2023. Business Monitor International risk analysis and forecasts, market research on leading industries, and multinational company research is relied upon by corporate bodies, banks, government departments and multilateral organisations in over 125 countries around the world.
Why SEC’s complaint management framework may not work (4)
In a circular directing all banks and financial institutions to expand their ATM Help Desk to handle all consumer complaints, the CBN among other things stated, “The consumer help desk should be managed by an officer not below the grade of Assistant General Manager (AGM) and/or senior banking officer of considerable years of experience in banking at the head offices and branches respectively”
Power: Nigeria’s power drops as Kenya gets Sh42b power boost from World bank
NAIROBI: Over 630,000 more Kenyans will have access to electricity while existing consumers will enjoy better quality of electricity services following approval of $457.5 million (Sh42.14 billion) financial package by World Bank Group The Kenya Electricity Modernisation Project package includes an International Development Association (IDA) credit of $250 million, an IDA guarantee of $200 million and a $7.5 million grant from the Strategic Climate Fund-Scaling up Renewable Energy Programme.
NLNG remits $21bn to JV feed gas suppliers
The Nigeria LNG Limited, NLNG, said it had spent over $21 billion as payment to Joint Ventures, JV, feed gas suppliers from inception till date, adding that 55 to 60 percent of this amount went to the Federation Account via its shareholding in the Nigerian National Petroleum Corporation, NNPC.
IEA forecasts higher 2015 global oil demand
Nigeria and other oil producing countries may soon come out of the prevailing low prices going by the recent April Oil Market Report of the International Energy Agency, IEA. The IEA raised its forecast of 2015 global oil demand by 90,000 barrels per day, bpd, to 93.6 million bpd, a gain of 1.1 million bpd on the year and a notable acceleration of the 700,000 bpd growth in 2014, as the global economy slowly gains momentum
Access Bank loans N573bn to energy firms
Access Bank Plc gave out loans, totaling N572.997 billion to energy firms in two years, between 2013 and 2014. This was even as the bank is fined N174 million for various contraventions in the course of its operations in 2014. A breakdown of the loans, according to information obtained from the bank’s financial statement for the year ended, December 31, 2014, showed that the Bank gave out a total of N243.065 billion and N329.923 billion in 2013 and 2014 financial year respectively.
