By Adedapo Adesanya

The Nigerian Electricity Regulatory Commission (NERC) has commenced implementation of the Net Billing Regulations 2026, opening the electricity market to qualified consumers who generate renewable energy and supply excess power to the national distribution network.

The new framework is expected to accelerate solar energy adoption, deepen private sector participation in power generation, and provide businesses and large consumers with additional opportunities to reduce energy costs while earning credits for surplus electricity exported to the grid.

Announcing the commencement of the regulations, NERC said the framework establishes a formal mechanism that allows eligible electricity customers, known as “Prosumers,” to generate electricity from renewable energy sources, primarily solar photovoltaic systems, for their own use and export excess energy to distribution companies under a Net Billing Arrangement.

According to a statement issued by the commission, the regulations are designed to promote cleaner energy sources and strengthen Nigeria’s electricity supply system.

“The Regulations establish a framework that enables eligible electricity customers (Prosumers) to generate electricity from renewable energy sources, primarily solar photovoltaic systems, for their own consumption and export surplus energy to the distribution network under a Net Billing Arrangement,” NERC stated.

The commission explained that the scheme seeks to stimulate investments in distributed generation and improve power reliability for consumers.

Among the objectives of the regulations are to “promote the adoption of renewable energy technologies, enhance energy security and reliability for electricity consumers, encourage private sector participation in distributed generation, support the reduction of greenhouse gas emissions, and facilitate efficient integration of renewable energy systems into distribution networks.”

Under the framework, only customers connected to a distribution company’s network and operating approved renewable energy systems will be eligible to participate.

NERC stated that participating customers must install renewable energy systems that comply with technical and regulatory standards, obtain approval from the relevant Distribution Licensee, execute a Net Billing Agreement, and register with the Commission.

The regulations specify that eligible Renewable Energy Systems must have a minimum installed capacity of 50 kilowatt peak (kWp) and a maximum capacity of 1.5 megawatt peak (MWp).

“Customers seeking to participate in the Net Billing Scheme must be connected to a Distribution Licensee’s network, install renewable energy systems that comply with applicable technical standards and regulatory requirements, obtain approval from the relevant Distribution Licensee, execute a Net Billing Agreement and register with the Commission,” NERC said.

The commission further explained that prospective participants would first undergo a technical feasibility assessment by their respective distribution companies before being admitted into the programme.

“Interested customers are required to apply to their Distribution Licensee for a technical feasibility assessment. Upon approval and execution of a Net Billing Agreement, the applicant shall register with NERC in accordance with the provisions of the Regulations,” it stated.

To ensure accurate accounting of energy flows, NERC said approved participants would be equipped with bidirectional net meters capable of measuring electricity imported from and exported to the distribution network.

“Approved participants shall be provided with appropriate bidirectional net metering facilities to measure electricity imported from and exported to the distribution network. Exported energy shall be credited in accordance with the export tariff approved by the Commission,” NERC added.

By Adedapo Adesanya

The Chairman of the Nigeria Sovereign Investment Authority (NSIA), Mr Segun Ogunsanya, has called for greater mobilisation of domestic capital from local institutions to drive Nigeria’s economic development.

Mr Ogunsanya made the remarks during his address at the Invest in Lagos 3.0 Summit, themed Lagos: The Business Gateway to Africa, urging policymakers and investors to tap funds from pension administrators, insurance firms and banks rather than relying heavily on foreign development finance institutions (DFIs) and external funding sources.

He said Nigeria must move beyond heavy reliance on DFIs and external funding, arguing that significant untapped capital exists within the country’s financial ecosystem.

“I would like to see a deeper level of local capital formation. I’ve seen a lot of emphasis on DFIs and the money coming in from outside the country. But if you look deeply, we need to find ways of harnessing local capital, capital from pension funds, capital from insurance companies, capital from banks,” he said.

According to him, domestic pension funds, insurance assets and banking liquidity represent a sustainable source of long-term financing that can be structured to support infrastructure through Public-Private Partnership (PPP) frameworks.

Mr Ogunsanya disclosed that NSIA is currently anchoring a $1 billion infrastructure fund in collaboration with the International Finance Corporation (IFC), designed to strengthen infrastructure investment and de-risk large-scale projects.

“A couple of days ago, we just got some confirmation from IFC. They’re going to be part of a $1 billion fund that we’re anchoring. This $1 billion fund is to provide some sort of guarantee for infrastructure investment,” he said.

He explained that the fund would cover key stages of infrastructure delivery, including project preparation, project development, risk guarantees and risk capital support.

“The World Bank IFC just came in again, and this funding is meant to cover four different areas of any infrastructure investment — the project preparation phase, the development phase, those who want guarantees, and also to provide the risk capital itself,” he said.

Mr Ogunsanya noted that the initiative is aimed at improving project bankability while ensuring strict financial discipline and due diligence in investment selection.

By Adedapo Adesanya

The Oyo State Police Command has revealed that a person attached to a member of the family of former Minister of Power, Mr Adebayo Adelabu, allegedly worked in collaboration with kidnappers to abduct his sister and her two children in Ibadan.

Police spokesperson, CSP Olayinka Ayanlade, disclosed that preliminary investigations indicate an insider role in the operation, suggesting that the abduction may have been facilitated by someone close to the family.

Mrs Olaide Busayo Adegoke John-Paul and her 12-year-old twin sons, Peter and Paul, were abducted on June 3, 2026, at the Elewura area of Challenge, Ibadan.

The victims regained their freedom on Saturday (June 6) after a coordinated intelligence-led operation by operatives of the Force Intelligence Department–Intelligence Response Team (FID-IRT) and the Oyo State Police Command.

According to the Command in its latest update, the suspect allegedly provided support to the kidnappers during the incident, which led to the abduction of the victims in Ibadan, Oyo State.

Security operatives said investigations are ongoing to track down all individuals connected to the crime and ensure the safe rescue of the victims.

The police assured residents that efforts are being intensified to dismantle the network behind the kidnapping and bring all perpetrators to justice.

On Monday, the Oyo State Government demolished a three-bedroom bungalow allegedly used as a hideout by kidnappers involved in the abduction of the younger sister of the former Minister of Power and her twin sons.

The property, located at Lakoun Estate along Olomi-Olojuoro Road in Oluyole Local Council of Oyo State, was pulled down by officials of the state Ministry of Public Works and Transportation, accompanied by operatives of the Nigeria Police Force.

Officials added that the demolition also underscores the government’s determination to confront rising security threats and send a strong message to criminal elements operating within the South West state.