The influence of cationic cetyltrimethylammonium bromide (CTAB) and neutral polymeric polyvinylpyrrolidone (PVP) surfactants on electrical and dielectric properties of NiO nanocrystals is investigated. It is demonstrated that, compressive strain of nanocrystals is higher with PVP than that of CTAB. Consequently surfactant type has significant influence on intrinsic defects of nanocrystals. This is attributed to the difference in stabilization of metallic ions against agglomeration that leads to variation in rate of hydrolysis. Particularly, in the case of PVP assisted synthesis, higher stabilization leads to slow nucleation rate with lower defect density. As a result the hopping time of charge carriers decreases which in turn enhances the conductivity of nanocrystals as evidenced from the shifting of dielectric loss peak to higher frequency.