- Investigation: The House of Representatives has inaugurated a 19-member committee to investigate the disbursement and utilization of a N200 billion Central Bank of Nigeria (CBN) loan for the National Mass Metering Programme (NMMP).
- Electricity Distribution: The loan was given to Electricity Distribution Companies (DISCOs) to provide electricity meters free for Nigerian electricity consumers.
- Programme Objective: The NMMP aims to manage conflicts between energy users and distribution companies, eliminate arbitrary billing, and improve network monitoring.
- Concerns: The committee will investigate concerns over the handling of the loan, including the amount released, interest rates, and repayment terms.
The House of Representatives has formed a committee to investigate the disbursement and utilization of a N200 billion CBN loan for the National Mass Metering Programme (NMMP). The programme, introduced in 2020, aims to provide electricity meters free to Nigerian electricity consumers and manage conflicts between energy users and distribution companies. The committee will investigate concerns over the handling of the loan, including the amount released, interest rates, and repayment terms.
The NMMP was designed to be implemented in three phases, with the goal of reducing collection losses and improving market remittances in the electricity industry. However, preliminary research has raised questions about the management of the loan, including the amount disbursed and the repayment terms. The committee’s investigation will seek to clarify these issues and ensure that the programme is implemented in the best interest of Nigerian electricity consumers.
