The House of Representatives has inaugurated a sub-committee to investigate the disbursement and utilization of N200 billion earmarked under the Central Bank of Nigeria’s National Mass Metering Programme (NMMP).
Chairman of the sub-committee, Hon. Uchenna Harris Okonkwo, who represents Idemili North and South Federal Constituency, announced the inauguration in a press release on Tuesday.The Committee was inaugurated on May 6, 2025.
“The main objective of the Committee is to carry out investigation on the Central Bank of Nigeria’s National Mass Metering Program (NMMP) for which the sum of N200 billion was earmarked in the year 2020 to enable the licensed electricity distribution companies provide electricity meters free for Nigerian electricity consumers,” Okonkwo stated.
He explained that the NMMP was introduced in 2020 by the Central Bank in partnership with the Nigerian Electricity Regulatory Commission (NERC) and other stakeholders in the Nigerian Electricity Supply Industry (NESI).
The programme aimed to eliminate estimated billing, close metering gaps, and enhance network monitoring by installing meters in three phases.
Under Phase Zero, the CBN was to release N59.280 billion for the procurement and installation of one million meters, with a 9% interest rate after a two-year moratorium. However, data revealed that only N55.4 billion was released for 962,832 meters.
“The difference between the N59.280 billion announced and the N55.4 billion released, as well as the shortfall of over 37,000 meters, must be properly explained,” Okonkwo said. “This Committee will leave no stone unturned.”
Furthermore, he noted that the eleven distribution companies (DisCos) that received the loan have only repaid N7.1 billion as of 2024, not accounting for interest accrued.
“This calls for explanation as to how NESI SSL, Meristerm Wealth Management Limited, and Meristerm Securities Limited handled the NMMP in the national interest,” he added.
The House also expressed concern over the lack of progress on the subsequent phases of the NMMP. Phase 1, which was to be jointly funded by the CBN and Deposit Money Banks for the procurement of 1.5 million meters, and Phase 2, which the World Bank was expected to support with funding for 4 million meters, remain unaddressed.
“The situation has far-reaching implications on the nation’s economic and social development,” Okonkwo warned. “Transparency and accountability in public fund management are non-negotiable.”
The sub-committee draws three members from each of the six geopolitical zones:
North East: Hon. Obed Paul Shehu, Hon. Ali Lawal Shettima, Hon. Abel David Fuah
North West: Hon. Salisu Garba Koko, Hon. Ahmed Mohammed Munir, Hon. Sani Umar Bala
North Central: Hon. Gbefwi Gaza Jonathan, Hon. Abdulmaleek Abdulraheem Danga, Hon. Chinedu Obika Joshua
South West: Hon. Okunlola Lanre, Hon. Abass Adigun Adekunle, Hon. Akinosi Olatunji Akanni
South South: Hon. Obuzor Victor C., Hon. Peter Akpanke, Hon. Ngozi Okolie Lawrence
South East: Hon. Ogah Amobi Godwin, Hon. High Chief Moore N., Hon. Ikeagwuonu Onyinye U. M.
The Committee’s mandate is derived from Sections 88(1) and (2) of the 1999 Constitution of the Federal Republic of Nigeria, as amended, which empower the National Assembly to investigate public fund utilization.
Okonkwo assured the public and stakeholders of a transparent and thorough investigation: “We will ensure accountability and recover any mismanaged public funds. Nigerians deserve answers, and we intend to get them.”
He called on all agencies, institutions, and stakeholders involved in the NMMP to cooperate fully with the investigation.
