The House of Representatives has instructed 11 electricity distribution companies (DISCOs) to return a total of N55.42 billion they received under the National Mass Metering Programme (NMMP). The lawmakers cited poor performance, lack of accountability, and failure to meet the programme’s goals as reasons for the decision.
The affected companies include Abuja, Eko, Enugu, Ibadan, Ikeja, Jos, Kano, and Yola Electricity Distribution Companies, among others. They have been given until November 2026 to fully refund the money, which was originally provided as loans by the Central Bank of Nigeria (CBN).
This directive followed the adoption of a report presented by a joint committee of the House. The committee, which covers banking, power, rural electrification, and housing sectors, investigated how funds under the NMMP were distributed and used.
According to the committee chairman, Hon. Uchenna Harris Okonkwo, the NMMP was launched in 2020 to solve Nigeria’s electricity metering challenges. The programme aimed to provide meters to customers, reduce estimated billing, and support local meter production. However, the findings showed that these objectives were not achieved.
The report revealed that out of the N59.28 billion approved for the programme, only N55.42 billion was actually released to the DISCOs. The remaining N3.86 billion has not been properly accounted for. Lawmakers also criticized the CBN for failing to properly monitor how the funds were used.
“There is no clear report showing how much revenue was generated from the meters funded by these loans,” the committee stated. This lack of transparency raised concerns about the 10-year repayment plan initially agreed upon.
Further findings showed that some DISCOs that received about N4.6 billion were able to generate as much as N28 billion within just three years. This suggests that the companies could repay the loans faster than originally planned.
The committee also questioned whether proper approval was obtained for the programme during the administration of former President Muhammadu Buhari, as there was no documentation confirming presidential consent.
The NMMP was designed in three phases. Phase 0 aimed to deliver one million meters, Phase 1 targeted 1.5 million meters, and Phase 2 planned for four million meters with support from the World Bank. The total projected cost of the programme was about N200 billion.
Another issue raised was a contract clause involving Meristem Wealth Management Limited. The firm was entitled to receive 0.5 percent of the DISCOs’ yearly collections until 2030. So far, about N450 million has already been paid to the company. Lawmakers have now asked the firm to explain its role and provide full details of its involvement.
Additionally, the Nigerian Electricity Regulatory Commission (NERC) has not fully verified the number of meters installed using the funds, raising further doubts about the programme’s effectiveness.
To ensure recovery of the funds, the House has directed the CBN and NERC to set up a loan recovery committee. This team will be responsible for collecting both the principal and interest from the DISCOs before the 2026 deadline.
Lawmakers emphasized that this move is necessary to promote accountability and rebuild public trust in government-backed projects within the power sector.
