The House of Representatives Nigeria has directed 11 electricity distribution companies (DisCos) to refund ₦55.42 billion obtained under the National Mass Metering Programme (NMMP).

Lawmakers adopted the recommendation following a probe, giving the affected firms a seven-month deadline to repay the funds to the Central Bank of Nigeria (CBN).

Probe Finds Programme Fell Short

Presenting the committee’s report, Chairman Uchenna Okonkwo said the investigation revealed that the metering scheme failed to meet its intended objectives.

The NMMP, launched in 2020, was designed to bridge the metering gap, promote local manufacturing, reduce technical and commercial losses, and eliminate estimated billing.

₦59.28bn Earmarked for DisCos

Okonkwo disclosed that ₦59.28 billion was allocated to the 11 DisCos under the intervention scheme.

“The report indicates the programme, initiated in 2020, was to be implemented in three phases.

“₦59.28 billion was earmarked for the 11 companies, repayable at nine per cent interest, with six per cent to financiers and three per cent to the CBN,” he said.

Key Stakeholders Engaged

The committee engaged multiple stakeholders during the probe, including the Nigerian Electricity Regulatory Commission (NERC), Meristem Wealth Management, and Nigeria Electricity Supply Industry Stabilisation Strategy Limited.

Repayment Deadline Set

The lawmakers’ directive mandates the DisCos to refund the ₦55.42 billion within seven months, raising fresh scrutiny over the implementation of the NMMP and the broader performance of Nigeria’s power sector reforms.

The development adds pressure on electricity distribution companies to account for intervention funds and deliver improved service outcomes to consumers.