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Nigeria Introduces Amnesty for Foreigners with Expired Visas to Boost Compliance

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Call For Applications: FG & Amazon Web Services Free Digital Skills Programme for Nigerian Educators and Students

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FinTech

MasterCard and Airtel Smartcash Lead MSME Finance Awards 2024

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Business

Dangote Refinery Denies Selling Petrol to NNPC at N898 Per Litre

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Foods & Beverages

Street Foodz Naija Set for Season 5 with N10 Million Prize for the Winners.

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Economy

Tinubu Distributes 1,200 Bags of Rice to Ministers for Grassroots Aid

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Agriculture&Agro-Allied

Call For Registrations: Lagos Agrinnovation Summit 1.0

by Blessing Joseph

The Lagos Agrinnovation Summit 1.0 is a premier platform designed to foster meaningful conversations, collaboration, and groundbreaking innovations within the...

News

Call For Applications : Round 2 Partners for Going Beyond Project 2024 (USD 40,000 and 120,000 Grant)

by Blessing Joseph

Join the movement to empower young women and men in Africa with entrepreneurial skills and digital literacy! The Going Beyond...

Call for Applications: Obasanjo Presidential Youth Mentorship 2024 For Africans

News

Call for Applications: Obasanjo Presidential Youth Mentorship 5. 0 For Africans

by Blessing Joseph

The Youth Development Centre, Olusegun Obasanjo Presidential Library is announcing the portal opening for the fifth edition of the Presidential...

Education

Nigeria Launches eLearn Platform to Transform Education with Digital Access

September 15, 2024

The Federal Ministry of Education, in collaboration with the UK FCDO-funded Partnership for Learning for All in Nigeria (PLANE), has...

Economy

Nigeria’s External Reserves Rise by $424 Million Amid Positive Economic Outlook

September 15, 2024

Nigeria’s external reserves surged by $424.68 million between August 30 and September 10, signaling an improved financial outlook for the...

The Nigerian Electricity Regulatory Commission (NERC) has imposed a fine of N1.69 billion on Abuja Electricity Distribution Company (AEDC) for overbilling its customers. The penalty, outlined in Order NERC/2024/114, was issued as part of NERC’s September 2024 Supplementary Order. According to the regulatory document, published on NERC’s website, the fine was levied after an investigation revealed that AEDC had failed to comply with the commission’s rules on capping estimated bills for electricity consumers. The investigation found that the company overcharged its customers between January and September 2023. As a result, NERC imposed a fine equivalent to 10% of the overbilled amount. The order, signed by NERC Vice Chairman Musiliu Oseni and Commissioner Dafe Akpeneye, stated, “The commission has approved the deduction of N1.69bn from AEDC’s annual operating expenditure as a penalty for non-compliance with the order on capping estimated bills.” The regulatory body highlighted that the penalty would be deducted from AEDC’s total annual operational expenses starting in September 2024. In addition to the fine, NERC directed AEDC to improve its service delivery and closely monitor its compliance with service-based tariffs, particularly for customers on Band A feeders. NERC also instructed AEDC to explain any service interruptions lasting more than two consecutive days by publishing reasons on its website. Furthermore, AEDC is required to procure a minimum of 61MW of embedded generation, with at least 30MW sourced from renewable energy, to enhance electricity supply reliability in its franchise area. This procurement must be completed by April 2025. To compensate for service failures, the commission mandated that AEDC provide compensation to customers in Band A feeders who receive less than 20 hours but more than 18 hours of electricity supply. NERC Fines Abuja Electricity Distribution Company N1.69bn for Overbilling Customers

Business

NERC Fines Abuja Electricity Distribution Company N1.69bn for Overbilling Customers