Oil & Energy
Power Assets Financiers Get Refund, Dec
Nigerian Electricity
Regulatory Commission (NERC) says from December this year, customers who finance the acquisition of power assets may start getting refund of their monies from the respective electricity distribution companies (Discos).
The Commissioner, Market Competition and Rates of the Commission, Mr. Eyo Ekpo, who revealed this to newsmen in Abuja said such assets include electricity poles, transformers and other power equipment.
Ekpo stated that it was wrong for consumers to purchase electricity poles, transformers and other equipment on behalf of the Discos and never get a refund for the purchased assets.
The commissioner emphasized that, “nobody in any civilized country should pay for the assets that serve that person. So, we now have this frame work; we have consulted on it, gone through the necessary process, done the internal work and we have finally got all the comments.
Ekpo, who further disclosed that NERC was currently analyzing relevant information promised that at the end of November, it would come up with publication on the regulation.
He remarked that the commissioner has factored in all capital costs of power assets into the electricity tariff paid by consumers, and said, “it was unjust for the Discos to pocket the funds invested in equipment that they never purchased.
“It is common knowledge that people have been buying power assets but the problem with that is that even though you are helping yourself, you are giving an asset to a Discos on which it will now recover the cost of that asset and pocket it,” he said.
He regretted that because there was no framework previously, hence the Discos were just collecting the money without account for it and without any charity as to how those that paid should be refunded.
“NERC will formally clear the regulation and will effect it. We have discussed it as a commission and we have decided to make sure that money spent by customers to purchase power equipment is repaid by the Discos,” he maintained.
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Oil & Energy
Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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