The House of Representatives is set to investigate the disbursement and utilisation of a N200 billion loan provided by the Central Bank of Nigeria (CBN) for National Mass Metering Programme (NMMP) to Electricity Distribution Companies (DISCOs)
The Chairman of the House Committee looking into the issue, Honorable Uchenna Okonkwo, made this known in a statement issued on Wednesday in Abuja.
He added that the objective of the 19-member committee was to carry out investigation on the programme earmarked upon in 2020, to enable the Licensed Electricity Distribution Companies provide electricity meters free for Nigerian electricity consumers.
According to him, preliminary research on the NMMP has shown that instead of the pronounced amount of N59.280 billion naira for the first phase of the project, what was released was N55.4 billion for procurement and installation of 962,832 meters instead of one million meters pronounced by CBN.
He said this calls for explanation as to how the fund managers handled the NMMP project
News Edited by Oni Philips Kayode