Nigeria's electricity regulator is threatening to hold back operating money from power distribution companies that are dodging meter refunds to customers. Dr. Musiliu Oseni from NERC said they can freeze funds at the wholesale market level if these companies keep ignoring their obligations, and some distributors have only hit two percent performance on paying people back.
The whole situation goes back to 2018, when customers paid upfront for electricity meters under the Meter Asset Provider program but never actually got the hardware. They are supposed to get refunds through energy credits on their bills over time instead of direct cash, and the payback schedule kicked off in April 2023.
NERC is basically done playing around with companies that are blowing off the refund timelines and plans to impose strict deadlines with real financial consequences.
The whole situation goes back to 2018, when customers paid upfront for electricity meters under the Meter Asset Provider program but never actually got the hardware. They are supposed to get refunds through energy credits on their bills over time instead of direct cash, and the payback schedule kicked off in April 2023.
NERC is basically done playing around with companies that are blowing off the refund timelines and plans to impose strict deadlines with real financial consequences.
