The House of Representatives has initiated an investigation into the management of funds allocated for the National Mass Metering Programme (NMMP), which is overseen by the Central Bank of Nigeria (CBN). The inquiry will focus on the disbursement of loans, the proper utilization of these funds, and the level of adherence to the terms and conditions set for the loan recipients, specifically the Electricity Distribution Companies (DisCos).
This probe was prompted by a motion presented by Uchenna Harris Okonkwo, a member of the House, on Thursday in Abuja. The motion highlighted concerns about the mismanagement, discrepancies, and non-compliance related to the disbursement of funds under the programme. Okonkwo emphasized the absence of adequate oversight, monitoring, and evaluation mechanisms, which he argued had opened avenues for corruption and the misallocation of public resources.
The National Mass Metering Programme (NMMP), launched by the Federal Government through the CBN, was designed to improve the metering infrastructure across Nigeria. The programme aimed to provide loans to licensed DisCos to help meter over 6 million households and businesses by the end of 2021. Its goal was to eliminate the widespread issue of estimated billing, thereby increasing the transparency and accuracy of electricity charges, which is crucial for enhancing the accountability and efficiency of the power sector.
However, the House of Representatives has raised concerns that many of the programme’s objectives have not been fully realized, with DisCos failing to meet their targets. The programme’s intended impact has been undermined by reported inefficiencies, including underperformance, as well as the mismanagement of the funds that were supposed to drive the meter rollout.
The House is now demanding that the CBN present a comprehensive report on the implementation of the programme. The requested report should detail the total number of loans disbursed, the specific amounts allocated, and the current status of the loans, including whether they were properly utilized by the recipient companies.
Additionally, the lawmakers have called on the Federal Government to place greater emphasis on the Power Sector Recovery Programme (PSRP), which serves as a roadmap for sustainable reforms in the power sector. The Nigerian Electricity Regulatory Commission (NERC) has also been instructed to conduct a thorough evaluation of the performance of the DisCos in terms of their success in metering customers and reducing reliance on estimated billing.
This legislative inquiry reflects growing concerns over the effectiveness of Nigeria’s energy reforms, particularly the National Mass Metering Programme, and the ability of regulatory bodies and financial institutions to ensure that such initiatives fulfill their intended goals.
