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Ikeja Electric Launches Live Chat for Response to Customer Complaints

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Apparently miffed by the recent multi-million Naira fines imposed on it and three other electricity distribution companies by the Nigerian Electricity Regulatory Commission (NERC) for refusal to satisfactorily address service complaints, Ikeja Electric has launched an online “Live-Chat” service to enable customers engage with trained customer service representatives on a real-time basis.

NERC had slammed N45.6 million fines on four Discos – Ibadan, Enugu, Port Harcourt and Ikeja– for failing to either submit their audit reports on time, or refusal to satisfactorily address service complaints.

The agency found Ikeja Disco guilty of violating its licensing terms and conditions on three grounds and had fined the company N10, 000 per day on each of the three grounds of misdemeanor with effect from April 22, 2016 till July 25, 2016 when the directive was signed.

But in a statement at the weekend, Ikeja Electric stated that it has launched an online “Live-Chat” service to enable customers engage with trained customer service representatives on a real-time basis in line with its commitment to improve customer experience and further promote excellent service delivery.

According to the company, the online chat service, which is compatible with all Android, IOS and Blackberry devices, is user friendly, interactive and robust with customers receiving instant responses to enquiries, complaints and questions they post, on the go.

Speaking on the launch of the service, the company’s Head of Corporate Communications, Felix Ofulue, noted that the deployment of diverse customer facing technology solutions is a deliberate attempt to bring the brand to closer to IE Customers.

“As a customer-oriented company, we are constantly developing initiatives and services that deliberately bring us closer to the customers, right where they are, as individuals. This is just one of the ways we can also delight them and earn their confidence as well. So, if they have something to tell us, it is also right that they do so at their convenience,” Ofulue said.

Ofulue explained that integrating the service on various operating systems provides seamless access, via mobile devices, tablets and desktops, to IE customer care representatives.

“So, they speak to us conveniently while we listen. Our customers deserve this type of access, and we are pleased to provide it”, he added.

In a related development, the company has unveiled plans to roll out “Do-It-Yourself” POS terminals in all of her six business units to allow paying customers process their payments on secure terminals by themselves.
Ofulue further urged customers to take advantage of these solutions which has been put in place by IE to promote excellent service delivery.

Ikeja Electric has consistently improved on its multiple touch points which customers have taken advantage of in resolving service related issues.

Ikeja Electric is also consistently improving on safety and service standards across her network by deploying innovative initiatives such as the Network Safety Monitoring and this has resulted in improved power supply, much to the delight of residents and business owners.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd

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The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.

The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.

The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.

The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.

Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.

The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.

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Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins

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Oil Prices Recover from 4 Percent Decline as Joe Biden Wins

Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.

This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.

Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.

On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.

Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.

“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”

The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.

There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.

“Either you’re crimping energy demand or consumption behavior.”

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Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020

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Revenue of OPEC Members to Drop to 18 Year Low in 2020

The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.

EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.

If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.

The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.

It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.

It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.

“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”

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