The Federal Competition and Consumer Protection Commission (FCCPC) has backed recent moves by the Lagos State Electricity Regulatory Commission (LASERC) to curb estimated electricity billing and strengthen consumer protection within the state’s power sector.
In a statement issued on Tuesday, the FCCPC commended LASERC’s position in the 2025 Lagos Electricity Market Report supporting stricter enforcement against electricity supply without meters and the phased rollout of universal smart metering across Lagos State.
The Lagos electricity regulator is currently pursuing reforms aimed at improving billing transparency, service delivery and consumer protection in the state’s electricity market.
The measures include compulsory metering to be enforced in phases beginning from 2026, feeder-by-feeder deployment of smart meters, tighter oversight of electricity distribution companies, improved complaint resolution mechanisms and sanctions against non-compliant operators.
FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, described the reforms as a significant step towards addressing one of the most persistent complaints among electricity consumers in Nigeria.
“Estimated billing remains one of the leading sources of consumer complaints within Nigeria’s power sector,” Mr Bello said.
He added that, “Measures that accelerate metering and improve billing transparency are important to consumer protection and overall market accountability.”
Estimated billing, where consumers are charged based on projected electricity usage rather than actual consumption recorded through prepaid or smart meters — has long generated disputes between electricity distribution companies and consumers across Nigeria.
Many households and businesses have repeatedly accused distribution companies of arbitrary billing, excessive charges and lack of accountability, especially in areas with poor electricity supply.
Mr Bello said consumers should not be subjected to unfair or unverifiable billing practices, particularly where electricity consumption cannot be accurately measured.
“Effective metering promotes fairness within the electricity market. It supports accurate billing, reduces disputes, improves accountability, and gives consumers greater confidence in the system,” he said.
The FCCPC also urged other state electricity regulators and subnational governments implementing electricity market reforms to adopt similar consumer-focused measures.
According to the commission, reforms around transparent metering systems, improved complaint resolution and stronger service standards are critical to rebuilding consumer trust and improving electricity service delivery nationwide.
The agency further called on electricity distribution companies and other operators within the power sector to cooperate fully with ongoing metering initiatives and service quality reforms introduced by regulators.
The FCCPC noted that findings contained in the LASERC report also highlighted persistent service delivery gaps, consumer complaint challenges and electricity supply issues affecting Lagos residents.
It said the findings underscored the need for stronger consumer safeguards, sustained infrastructure investment and improved operational accountability within the electricity sector.
The commission reaffirmed its commitment to supporting reforms aimed at improving transparency, accountability and consumer protection across Nigeria’s electricity market through continued engagement with regulators and other stakeholders.
BY SUNDAY SAMUEL—The Ondo State Police Command under the proactive leadership of CP Felix Ohagwu psc, mnips, mspsp has successfully foiled two separate kidnap attempts in Owo Local Government Area of the State, rescuing all victims involved and forcing the fleeing criminals to abandon their mission following swift and coordinated security operations.
The incidents, which occurred within a few hours of each other on Sunday, 21st June, 2026, underscore the Command’s proactive operational readiness and the effectiveness of ongoing efforts aimed at combating kidnapping and other violent crimes across the State.
The first incident occurred at about 7:05 p.m. when the Police received a distress call indicating that a six-man armed kidnapping gang had stormed the residence of Pastor Taiwo Taiwo, Chairman of Ojana New Area, Owo, with the intention of abducting him. Acting promptly on the information, the Divisional Police Officer, B Division, Owo, mobilized and led a patrol team to the scene.
Upon arrival, the operatives encountered the armed assailants, leading to an exchange of gunfire. The superior tactical response and determination of the Police operatives forced the criminals to retreat into the surrounding bush, abandoning their plan. The intended victim and his family members were successfully rescued unharmed and subsequently relocated to a safer location for enhanced security and protection.
In a related development later that same night, at about 11:10 p.m., another armed gang attacked one Daniel Ologun, a 39-year-old resident of Gbegun Community along Alhaja Camp, off Housing Estate, Owo. During the attack, the victim sustained a gunshot wound to his left leg while the assailants forcefully took his wife, Mrs. Taibat Ologun, aged 34 years, and their two young children, aged four and two years respectively, into the bush.
Upon receiving information about the incident, the Police immediately launched a rescue operation. The rapid deployment of operatives and sustained pressure mounted on the fleeing kidnappers disrupted their movement and compelled them to abandon the Mr Daniel Ologun. In a coordinated search-and-rescue effort involving the Police and personnel of the Nigerian Army, Mrs. Ologun and her two children were later successfully rescued unhurt from the assailants who escaped with gunshot injurieat about 1:50 a.m.
The injured victim was promptly taken to the Federal Medical Centre (FMC), Owo, where he is currently receiving medical attention and responding positively to treatment.
Meanwhile, joint security teams comprising Police operatives and military personnel have intensified bush-combing operations in the affected areas and adjoining forests with a view to apprehending the fleeing suspects and dismantling any criminal hideouts within the axis. Efforts are ongoing to track down all members of the criminal gangs involved in the attacks and bring them to justice.
CP Felix Ohagwu, psc, mnips, mspsp, has directed that the rescued victims be immediately debriefed to obtain additional information that may assist ongoing investigations and intelligence-gathering efforts aimed at identifying and apprehending the fleeing suspects. Afterwhich all rescued victims be reunited with their families while ensuring that necessary security measures are put in place for their continued safety and well-being.
The CP commends the bravery and swift response of the operatives involved in both operations, as well as the support of the Nigerian Army and members of the public who provided timely information that aided the successful rescue missions.
Energy company Aradel Holdings saw its net profit for 2025 increase by 192.3 per cent, compared to what it reported a year earlier, according to its latest audited report, taking its profit after tax to the peak level ever.
The remarkable improvement rested on the ₦393.2 billion translation gain it earned from the business combination it executed last year after acquiring a majority stake in ND Western, an oil drilling firm in which it previously held a non-controlling interest.
Towards the end of 2025, Aradel procured a 40 per cent stake in ND Western in a transaction that took its shareholding in the entity to 81.7 per cent.
The deal involving ND Western, being one of the companies under Renaissance Energy Holdings, raised Aradel’s stake in the latter from 33.3 per cent to 53.3 per cent, making it its majority owner.
Revenue for the period under review grew by 20.4 per cent to ₦699.4 billion, driven by crude oil exports and the sale of refined products.
Operating profit, which was up by 151.7 per cent, derived strength from the ₦217.1 billion earned as a bargain purchase from acquiring the additional stake in ND Western at a cheaper amount than its fair market value.
Share of profit from associate company stood at ₦109.5 billion, compared to ₦31.6 billion a year ago.
However, the company incurred ₦106.3 billion in fair value loss on step acquisition as a result of legacy expenses in respect of the write-down of a carrying amount from the ND Western asset acquisition.
Profit before taxation climbed by 163.6 per cent, while profit after tax jumped to ₦757.3 billion from ₦259.1 billion.
“Our focus in 2026 is on consolidating our expanded portfolio to enhance operational scale, improve efficiency across our assets, increase production and further diversify our revenue base anchored on our long-term ambition to grow the Group’s production to support sustainable, long-term shareholder value,” Adegbite Falade, the CEO, said.
“Reflecting the strength of our performance and confidence in our outlook, the board is pleased to propose a final dividend of ₦23.0 (US$0.016) per share, taking the total 2025 distribution to ₦33.0 (US$0.024),” he added.
The ₦33 total dividend per share is 10 per cent higher than that of 2024 and is equivalent to a potential payout of ₦143.4 billion.