The Nigerian Electricity Regulatory Commission (NERC) has imposed a fine of over ₦628 million on some electricity Distribution Companies (Discos) in the country for overbilling customers.
According to a statement on Thursday, NERC sanctioned eight DisCos for failing to comply with monthly energy caps for unmetered customers between July and September 2024.
The affected DisCos sanctioned for overbilling unmetered customers include Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola.
These DisCos have been fined over ₦628 million and are required to issue credit adjustments to affected customers by May 15, 2025, Naija News reports.
The Commission noted that its action is pursuant to Section 34(1)(d) of the Electricity Act 2023 and follows the failure of the affected Discos to fully comply with the monthly energy caps issued by NERC between July-September 2024.
The statement noted that the sanction underscores NERC’s unwavering commitment to regulatory compliance and consumer protection within the Nigerian Electricity Supply Industry.
Meanwhile, African Development Bank (AfDB) President, Akinwumi Adesina, has emphasized that Africa’s growing youth population should be seen as an economic advantage rather than a challenge, stressing the need for significant investment in human capital development and financial support.
Speaking in an interview on Channels Television’s Sunrise Daily on Thursday, the former Nigerian Minister of Agriculture dismissed the idea of empowerment schemes that offer small financial incentives, insisting that young people require substantial funding to bring their ideas to life.
“In the case of young people and the japa syndrome, it’s a big loss for us,” Adesina stated, referring to the trend of Nigerian youth migrating in search of better opportunities abroad.
“Young people don’t need freebies; they don’t need people saying: ‘I just want to give you an empowerment programme.
“They have skills, they have knowledge, they have entrepreneurship capacity, they want to turn their ideas into great businesses.
“What young people need is not those empowerment programmes; they need capital, they need you to put your money at risk on their behalf,” he noted.
