The House of Representatives has resolved to investigate the disbursement and utilization of the ₦200 billion loan issued by the Central Bank of Nigeria (CBN) for the National Mass Metering Programme (NMMP) to Electricity Distribution Companies (DISCOs).
Chairman of the investigative committee, Rep. Uchenna Okonkwo (LP–Anambra), announced this in a statement on Wednesday in Abuja, noting that a 19-member subcommittee has been inaugurated to conduct the probe.
According to Okonkwo, “The main objective of the committee is to carry out a thorough investigation into the implementation of the NMMP, which was introduced in 2020 to enable licensed electricity distribution companies to provide free electricity meters to Nigerian consumers.”
He explained that “it is on record that NMMP was introduced in 2020 by the CBN in collaboration with the Nigerian Electricity Regulatory Commission (NERC) and other key stakeholders in the Nigerian Electricity Supply Industry (NESI).”
Okonkwo stated that the initiative aimed to “resolve disputes between electricity consumers and distribution companies, eliminate arbitrary billing, close metering gaps, and enhance network monitoring.”
He added, “The program was designed to be implemented in three phases, all intended to reduce collection losses and improve market remittances within the power sector.”
Giving a breakdown of the pilot phase, Okonkwo noted:
“Under the pilot phase, the CBN commenced implementation with the disbursement of ₦59.280 billion for the procurement and installation of one million meters in 2020, with an interest rate of 9% following a two-year moratorium.”
However, he revealed discrepancies uncovered during preliminary research:
“Instead of the ₦59.280 billion announced by the CBN for Phase 0, only ₦55.4 billion was actually released. This amount was used for the procurement and installation of 962,832 meters—not the one million meters originally declared.”
He continued, “Research has also shown that the eleven DISCOs who received the loans have yet to make clear how much has been repaid to the CBN from the ₦54.4 billion disbursed in 2020, without even accounting for the 9% interest on the loan.”
“This calls for an explanation as to how the fund managers handled the NMMP for national interest.”
Okonkwo also expressed concern over the stalled subsequent phases of the program:
“Phase 1, which was supposed to be funded by the CBN and deposit money banks for the procurement and installation of 1.5 million meters, and Phase 2, which the World Bank was expected to finance for 4 million meters, have yet to be addressed.”
Highlighting the broader implications, he said, “Having considered the effect of the above situation on the nation’s economic and social development, as well as transparency and accountability in the management of public funds, the House, relying on its powers under Sections 88(1) and (2) of the 1999 Constitution, has decided to investigate the disbursement and utilization of the ₦200 billion loan for the NMMP.”
The subcommittee members include Reps. Obed Shehu, Ali Shettima, Abel Fuah, Salisu Koko, Ahmed Munir, Sani Umar Bala, Gbefwi Jonathan, Abdulmaleek Danga, Chinedu Obika, Okunlola Lanre, Abass Adekunle, Akinosi Akanni, Obuzor Victor, Peter Akpanke, Ngozi Lawrence, Ogah Amobi Godwin, and Ikeagwuonu Onyinye, among others.
