The Nigerian House of Representatives has directed its Committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat to conduct an investigation into the disbursement and utilization of funds under the National Mass Metering Programme (NMMP) by the Central Bank of Nigeria (CBN). The probe aims to determine the level of compliance with the terms and conditions of the loans provided under the programme.
Additionally, the House called on the federal government to prioritize the implementation of the Power Sector Recovery Programme, which serves as a roadmap for sustainable power sector reform.
The lawmakers urged the CBN to furnish a detailed report on the implementation of the NMMP, including the number and amount of loans disbursed, as well as the current status of these loans. Furthermore, the Nigerian Electricity Regulatory Commission (NERC) was tasked with conducting a comprehensive assessment of the performance of the Distribution Companies (Discos) in metering customers and eliminating estimated billing practices.
These resolutions were reached following the adoption of a motion moved by Hon. Uchenna Okonkwo, highlighting concerns regarding discrepancies, mismanagement, and non-compliance with loan terms by some Discos participating in the NMMP.
Okonkwo emphasized the importance of the NMMP in improving customer metering and eliminating estimated billing, noting that it is a critical component of the power sector reform agenda aimed at enhancing transparency, accountability, and efficiency.
The House expressed concerns over the lack of proper oversight and monitoring of funds disbursed under the NMMP, which could potentially lead to corruption, diversion, and misappropriation of public resources.
In response to these concerns, the House mandated its Committees on Banking Regulations and Power to investigate cases of discrepancies, mismanagement, and non-compliance with loan terms under the NMMP. The committees are expected to assess the level of oversight and monitoring of fund utilization by the CBN and recommend measures to enhance transparency, accountability, and performance within four weeks.
