House orders DISCOs to refund ₦55.42 billion from failed metering scheme
House of Representatives directed 11 electricity distribution companies to refund ₦55.42 billion obtained under the National Mass Metering Programme (NMMP). The lawmakers adopted a committee report giving DISCOs a seven-month deadline to repay the loan to the Central Bank of Nigeria.
The probe followed discovery that the ₦59.28 billion metering scheme, introduced in 2020, failed to achieve its objectives of closing metering gaps, promoting local manufacturing, curbing losses, and ending estimated billing. DISCOs received ₦55.42 billion, leaving ₦3.85 billion unaccounted for.
Affected DISCOs include Abuja, Eko, Enugu, Ibadan, Ikeja, Jos, Kano, and Yola distribution companies. The committee raised concerns about Meristem Wealth Management receiving ₦450 million and a clause granting it 0.5% of DISCO collections annually until 2030. The House approved creating a loan recovery committee by CBN and NERC to recover funds before 2026.
With electricity supply remaining unreliable nationwide, does this recovery indicate government taking accountability seriously, or will Nigerians continue paying for failed programs without tangible improvements in service?