Industry & Money

FG Urged to Probe ₦59b Meter Loan

The Association for Public Policy Analysis (APPA) has urged the federal government to investigate the N59.2bn given to the 11 Distribution Companies to purchase 1 million meters for their customers.

It would be recalled that the government had in 2020 announced a N200bn fund for the National Mass Metering Programme (NMMP) in 2020 with the first phase to provide one million meters.

But a statement signed by the National President of APPA, Princewill Okorie, noted that only N56bn was eventually paid with N3bn unaccounted for, adding that only N7bn was paid by the DisCos from 2020 to 2024 as repayment of the loan.

He said there is a need for evidence on consumers that received meters under the NMMP scheme in DisCo franchise areas for transparency and accountability.

“The final issue is the need to find out the status of the NMMP loan in which N200 billion was to be provided in phases.”

He therefore, called on the national assembly to investigate the disbursement of funds which are loans to be repaid with account of the amount of money DisCos received for implementation of NMMP with evidence.

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