I have an NPC who I want to stand at a certain location at a certain time, so far so easy.

I want him to carry a lit torch or preferably a lantern. How can I do this?

get the adoring fan, he has a torch

I may be wrong, but I think they do it automatically if they have a Torch in their inventory-- I've never seen a Script to make them draw one, so...

Yep, NPCs use torches automatically if they have one. It depends on the time of day and weather though. Obviously they won't use one in bright sunlight.

Although I've made a Candle as a torch alternative, I've not done the test to make sure the automatic use gets inherited from the torch properly. If you have a Lantern you'd prefer to use, I'd recommend doing the test to make sure it behaves the same. It's just possible the engine is checking for the exact FormID for that, as a "quick and dirty" method.