Micro-Finance Bank Introduces Gas Account

The Managing Director, Olive Micro-finance Bank, Mr Eniola Agbesoyin, says the organisation will launch its Olive Gas Account by the end of the first quarter of 2013.

Agbesoyin said in Lagos that the scheme was in partnership with the Lagos State Clean and Green Environment Project.

He said that the programme would afford customers the opportunity to acquire potable gas cylinders of various sizes at affordable costs.

The managing director said that the prices would range from N6,500 to N12,000 depending on the size of the gas cylinder and payment would be spread over six months.

He said the idea was to enable people to migrate from the use of firewood and kerosene stoves.

“In partnership with the Lagos State Clean and Green environment Project, we are looking forward to launch our Olive Gas Account where customers would have the opportunity to acquire portable gas cylinders in different categories and be able to pay overtime to ensure that people migrate from the use of firewood.”

Agbesoyin, who is the Treasurer, Lagos State Branch of the National Association of Microfinance Banks (NAMBs), said that the product was good for commercial food vendors.

“We are looking at given them six months pre-payment period, some of them N6, 500, N7,000 or even less. It is going to be in different categories.

“We believe that product will reach out to a lot of people especially in the rural areas where people still depend on the use of firewood and charcoal.”

Agbesoyin said the product would impact positively on the lives of the people, especially the rural dwellers.