The House of Representatives has launched an investigation into the disbursement and utilisation of the ₦200 billion loan provided by the Central Bank of Nigeria (CBN) for the National Mass Metering Programme (NMMP) to Electricity Distribution Companies (DISCOs).
Chairman of the ad hoc committee, Hon. Uchenna Okonkwo (LP–Anambra), announced this in a statement issued on Wednesday in Abuja, stating that a 19-member committee had been inaugurated to undertake the probe.
Okonkwo explained that the committee’s primary objective is to scrutinise the implementation of the NMMP, introduced in 2020, which aimed to facilitate the free distribution of electricity meters by licensed DISCOs to Nigerian consumers.
He noted that the NMMP was launched by the CBN in collaboration with the Nigerian Electricity Regulatory Commission (NERC) and other stakeholders in the Nigerian Electricity Supply Industry (NESI) to resolve metering disputes, eliminate estimated billing, bridge the metering gap, and enhance grid monitoring.
According to him, the programme was designed to be implemented in three phases, with the overall goal of reducing collection losses and improving market remittances in the electricity sector.
“In the pilot phase, the CBN released ₦59.28 billion in 2020 for the procurement and installation of one million meters at a 9% interest rate, with a two-year moratorium,” he said.
“However, preliminary findings indicate that only ₦55.4 billion was actually disbursed for the procurement of 962,832 meters—short of the one million initially announced. There are also concerns over how much of the loan has been repaid by the eleven DISCOs involved, and whether the agreed 9% interest is being honoured.”
Also Read: House to Host Inaugural National Conference on Renewable Energy
He said further scrutiny was required, particularly as Phase 1 of the programme expected to be funded by the CBN and Deposit Money Banks for the installation of 1.5 million meters, and Phase 2 earmarked for World Bank funding for four million meters—remain unaccounted for.
“In light of the implications of this situation on national development and the need for transparency and accountability in public finance, the House, relying on the powers conferred under Sections 88(1) and (2) of the 1999 Constitution, has set up a sub-committee to investigate the matter thoroughly,” Okonkwo said.
Members of the committee include Hon. Obed Shehu, Hon. Ali Shettima, Hon. Abel Fuah, Hon. Salisu Koko, Hon. Ahmed Munir, Hon. Sani Umar Bala, Hon. Gbefwi Jonathan, Hon. Abdulmaleek Danga, Hon. Chinedu Obika, and Hon. Okunlola Lanre.
Others are Hon. Abass Adekunle, Hon. Akinosi Akanni, Hon. Obuzor Victor, Hon. Peter Akpanke, Hon. Ngozi Lawrence, Hon. Ogah Amobi Godwin, and Hon. Ikeagwuonu Onyinye, among others.
