The House of Representatives has taken a significant step by resolving to probe into the funds allocated to licensed electricity Distribution Companies (DisCos) for metering, disbursed by the Central Bank of Nigeria (CBN) as part of the National Mass Metering Programme.
This decision to investigate the disbursement of funds came after a motion was introduced by Uchenna Okonkwo, representing Anambra under the platform of the Labour Party (LP), during the plenary session on Thursday.
Okonkwo highlighted that the National Mass Metering Programme aimed to provide meters to over six million households and businesses before the end of 2021, as a crucial part of the power sector reform agenda. However, he expressed concerns about reports indicating discrepancies, mismanagement, and non-compliance with the terms of the loans disbursed under the NMMP by some DisCos. These issues have led to inefficiencies, underperformance, and failure to achieve the programme’s objectives.
The lawmaker further emphasized the need for proper oversight, monitoring, and evaluation of the funds disbursed under the NMMP by the CBN. He raised concerns that the lack of such oversight has created opportunities for corruption, diversion, and misappropriation of public resources.
Following the adoption of the motion, the House called on the CBN to furnish them with a detailed report on the implementation of the National Mass Metering Programme. The report is expected to include information on the number of loans disbursed, the amount disbursed, and the current status of the loans. This move signifies the House’s commitment to promoting transparency, accountability, and efficiency in the power sector.
