The House of Representatives has questioned the Nigerian Electricity Regulatory Commission (NERC) over the handling of a N59 billion loan disbursed by the Central Bank of Nigeria for the National Mass Metering Programme (NMMP).
In a statement on Saturday, Chairman of the House Joint Committee on Power, Uchenna Okonkwo, said investigations revealed irregularities and poor implementation of the programme, which was designed to close Nigeria’s metering gap, reduce estimated billing, and support local meter manufacturers.
The committee also queried Meristem Wealth Management Ltd and NESI-SSL for authorizing a company to collect 0.5% of annual revenue from electricity distribution companies (DisCos) until 2030.
“The review shows ambiguities, inconsistencies, and contradictions,” Okonkwo said. “This points to the fact that the programme has not been successfully managed to meet its goals.”
