Business
Unmetered Power Consumers Drop To 7.74m
An analysis of data from the just-released second quarter 2022 report of the Nigerian Electricity Regulatory Commission (NERC) and its first quarter 2022 report shows a marginal reduction in the number of unmetered power consumers across the country.
Figures from the reports indicated that unmetered power users dropped from 7,802,427 in the first quarter of last year to 7,744,909 in the second quarter, indicating a reduction of 57,518.
Providing updates on customer complaints in the latest second quarter report, the NERC said, “In 2022/Q2, cumulatively, the Discos received 251,007 complaints from consumers, amounting to 7,620 (+3.13 per cent) more complaints than those received in 2022/Q1.”
The commission noted that “metering, billing, and service interruption were the prevalent sources of customer complaints, accounting for more than 72 per cent of the total complaints during the quarter”.
It added, “The commission has introduced initiatives to address this category of complaints such as the independent verification of Discos compliance with the capping regulation that protects unmetered customers from over-billing.”
The power sector regulator, however, stated that the Discos resolved 231,905 complaints during the review period, corresponding to a 92.39 per cent resolution rate.
On metering in the second quarter of last year, the commission said, “The huge metering gap for end-use customers remains a key challenge in the industry – it is estimated that of the 12,643,630 registered energy customers as at June 2022, only 4,898,721 (38.74 per cent) have been metered.
“A total of 167,956 meters were installed in 2022/Q2 compared to the 85,510 meters installed in 2022/Q1. By comparison, the net metering rate increased from 37.79 per cent metering in March 2022 to 38.74 per cent in June 2022.
“The meter installations increased compared to 2022/Q1 despite the winding down of the National Mass Metering Program phase 02 as a result of the uptake of the Meter Asset Provider metering scheme by most Discos.”
The commission said it had continued to engage relevant stakeholders to ensure month-on-month increments in metering rate, while instituting safeguards against over-billing of unmetered customers by setting maximum limits to the amount of energy that might be billed to an unmetered customer every month.
The President, Nigeria Consumer Protection Network, and coordinator, Power Sector Perspectives, Kunle Olubiyo, had kicked against the projection of the Federal Government on its plan to deploy six million meters before June.
He also told The Tide source that the in-coming government must take a holistic look at the power sector, stressing that a lot of things had gone wrong in the industry.
Olubiyo particularly noted that the privatisation of the successor distribution and generation companies of the defunct Power Holding Company of Nigeria in November 2013, should be reviewed.
This, he said, was particularly due to the dysfunctional outputs of the power distributors since they were privatised, adding that the 10-year moratorium on power sector privatisation would end this year.
“When this moratorium expires by October, naturally it will be without litigation because they’ve given the privatised companies 10 years. And so if in between the lines we try to shift the goal post, then litigation can arise.
“If not for the activities of the banks that are now involved in the day-to-day running of some Discos, there is no way we would have been able push out this height of impunity in the sector. People make as much as N15bn in a month and they will still have a licence for zero remittance”.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.