Reps Order DISCOs to Refund N55.42 Billion NMMP Loan

The Nigerian House of Representatives has directed 11 electricity distribution companies (DISCOs) to refund N55.42 billion received from the National Mass Metering Programme (NMMP) within a seven-month timeframe. This decision follows the adoption of a committee report presented on Thursday, which raised concerns about the performance and financial management of the NMMP.

The total amount disbursed to the DISCOs under the NMMP was N59.28 billion, with the House questioning the payment structure and the role of service providers involved in the scheme. The NMMP, introduced in 2020, aims to improve transparency and efficiency in Nigeria's electricity market by providing free electricity meters to consumers.

The program is a joint initiative involving the Central Bank of Nigeria (CBN) and the Nigerian Electricity Regulatory Commission (NERC). The House of Representatives has mandated that the DISCOs repay the funds to the CBN by May 2025, as part of efforts to enhance the efficiency of Nigeria's power sector.