The House of Representatives has resolved to launch an investigation into the National Mass Metering Programme (NMMP) of the Central Bank of Nigeria (CBN) under the administration of former President Muhammadu Buhari.
The lower chamber resolved to investigate the funds disbursed to the licensed electricity distribution companies by the CBN as loans under the NMMP.
The decision to probe the programme was reached on Thursday following the adoption of a motion moved by Uchenna Okonkwo (LP, Anambra).
NMMP
The National Mass Metering Programme (NMMP) was established in 2020. The intervention seeks to increase the metering rate, eliminate arbitrary estimated billing, strengthen the local meter manufacturing sector, job creation and reduction of collection losses.
A seed capital of ₦200 billion was invested to facilitate the Nigeria Electricity Supply Industry (NESI) revenue collections through the programme. Under Phase-0 of the NMMP, ₦59.280 billion was set aside for financing the installation of one million meters.
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From inception to date, 89.96 per cent of the funds allocated for NMMP under phase 0 have been disbursed to 11 Distribution Companies (DisCos) for the procurement of 962,832 meters through 23 Meter Asset Providers.
In 2021, the Buhari administration claimed to have provided four million meters under the scheme.
The motion
Mr Okonkwo stated in his motion that “there have been reports of discrepancies, mismanagement, and non-compliance with the terms and conditions of the loans disbursed under the NMMP by some DisCos, leading to inefficiencies, underperformance, and failure to achieve the objectives of the programme’s objectives.
“The lack of proper oversight, monitoring and evaluation of funds disbursed under the NMMP by the CBN created opportunities for corruption, diversion, and misappropriation of public resources,” he said.
Consequently, the House mandated its Committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat, to investigate the disbursement and use of the funds under the NMMP by the CBN, and to ascertain the level of compliance with the terms and conditions of the loans.
Furthermore, the House mandated the Committees on Banking Regulations and Power to investigate cases of discrepancies, mismanagement, and non-compliance with the terms and conditions of the loans disbursed under the programme.
Aside from investigation, the House also urged the federal government to prioritise the implementation of the Power Sector Recovery Program, which provides a roadmap for sustainable power sector reform.
Although the motion was not debated, the lawmakers voted in support of it when Speaker Abbas Tajudeen put it to vote.
The committees were then given four weeks to conclude the investigation and report to the House.
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