- The House of Representatives has launched an investigation into the disbursement and use of the ₦200 billion CBN loan under the National Mass Metering Programme.
- A 19-member committee will investigate delays in subsequent phases and enforce accountability in the power sector’s reform efforts.
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). The CBN issued this loan to Electricity Distribution Companies (DisCos) to support the free provision of electricity meters to Nigerian consumers.
Rep. Uchenna Okonkwo (LP–Anambra), Chairman of the Committee, announced this in a statement issued on Wednesday in Abuja. He confirmed that the House had inaugurated a 19-member committee to lead the probe.
Okonkwo stated that the committee’s main objective is to investigate the programme initiated in 2020, which aimed to enable licensed DisCos to supply electricity meters at no cost to consumers. He explained that the CBN launched the NMMP in collaboration with the Nigerian Electricity Regulatory Commission (NERC) and other key Nigerian Electricity Supply Industry (NESI) stakeholders.
Meanwhile, he said the programme aimed to address frequent disputes between electricity consumers and distribution companies. It also sought to eliminate arbitrary billing, reduce the metering gap, and improve network monitoring across the electricity sector.
Okonkwo explained that the NMMP was designed to be implemented in three phases. He noted that the pilot phase involved a ₦59.28 billion loan from the CBN in 2020 for procuring and installing one million meters, with a 9% interest rate and a two-year moratorium.
However, Okonkwo reported that preliminary research showed that the CBN disbursed only ₦55.4 billion for installing 962,832 meters, not the one million meters announced initially. He also revealed that the eleven DISCOs that received the loan had yet to account for the funds or the interest component.
He added that the committee would examine why DisCos have not provided full repayment details for the ₦55.4 billion loan and why phases 1 and 2 of the NMMP have not progressed as planned. According to the original plan, CBN and Deposit Money Banks were to fund Phase 1 for 1.5 million meters, while the World Bank was to fund Phase 2 for 4 million meters.
In addition, Okonkwo stressed that these concerns raise questions about transparency, accountability, and the programme’s impact on national economic and social development. He stated that the House had invoked its powers under Sections 88(1) and (2) of the 1999 Constitution to set up a subcommittee to conduct the investigation.
The committee members are Reps. Obed Shehu, Ali Shettima, Abel Fuah, Salisu Koko, Ahmed Munir, Sani Umar Bala, Gbefwi Jonathan, Abdulmaleek Danga, Chinedu Obika, and Okunlola Lanre.