Economy
FG Orders NERC, Discos to Allow Consumers Buy Prepaid Meters
By Modupe Gbadeyanka
Nigerian Electricity Regulatory Commission (NERC) has been directed by the Federal Government to restore the regulation that earlier gave electricity consumers to purchase prepaid meters approved by the relevant parties.
At the recent third edition of the National Council on Power, the council suggested to the FG to order NERC to reinstate regulations permitting willing customers to purchase meters from approved meter vendors as approved by the distribution companies and the Nigeria Electricity Management Services Agency with a framework to reimburse such customers in cash, or energy.
The council was presided over by the Minister of Power, Works and Housing, Mr Babatunde Fashola, and supported by the Minister of State for Power, Works and Housing, Mr Suleiman Hassan and was attended by council members from 27 states of the federation.
At the end of the meeting, the Federal Ministry of Power, Works and Housing, on Thursday said the FG agreed with the council on the reinstatement of the Credited Advance Payment for Metering Implementation (CAPMI) introduced by NERC in 2013, but stopped in 2016.
Recall that in September last year, NERC directed the 11 electricity distribution companies operating in the country to formally wind down the alternative meter financing scheme on or before November 1, 2016.
CAPMI allowed electricity consumers to self-finance meter acquisition and installation, where Discos fail to make a provision for it.
“Council considered issues, observations and recommendations made by the working/technical committees as contained in the reports laid before it, and took key decisions as well as gave directives for implementation with time lines as outlined below.
“NERC to reinstate regulations permitting willing customers to purchase meters from approved meter vendors as approved by the distribution companies and the Nigeria Electricity Management Services Agency with a framework to reimburse such customers in cash, or energy.
“NERC to issue a regulation that enables third-party meter providers to install and manage customers’ meters, provided that such third parties are certified by NEMSA and approved by the Discos based on available metering standards.
“NERC is to provide a framework for compensating the investment made by meter service providers in cash or shares in the Discos,” a part of the communiqué issued by the government yesterday in Abuja stressed.
It was also agreed that NERC should commence an aggressive multi-platform public awareness programme that would reach as many customers as possible and explain all policies and regulations and obligations related to metering.
It further directed NERC to enforce on the Discos the policy directive that any unmetered customer was obligated to pay only the last undisputed bill, adding that if the customer remained unmetered, the last undisputed bill should be discounted by 15 percent in each subsequent year that the customer remained unmetered provided that the failure to meter the customer was the fault of the Disco.
The council noted that in areas where distribution infrastructure was non-existent, NERC should franchise the opportunity to provide services to interested investors, including states and local governments through regulations such as the mini-grid regulations.
“In areas where customers are dissatisfied with the services they are currently enjoying, NERC regulations should give customers the option of contracting better services from service providers and generation companies through policies like the eligible customers regulation and mini-grids using varieties of generation technologies; obtaining better services by compelling Discos to appoint retail agents; and obtaining better services by compelling the Discos to relinquish their franchise to capable investors/service providers,” the communiqué further said.
Additional information from Punch
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
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