Lawmakers Question NERC Over Use of ₦59B Metering Loan

Lawmakers in Nigeria have opened an investigation into how the Nigerian Electricity Regulatory Commission (NERC) spent a ₦59 billion loan from the Central Bank of Nigeria (CBN) intended for the country’s mass metering program.

The House of Representatives Joint Committee announced the probe on Sunday, raising concerns over transparency and accountability in the program, which was launched in 2020 to close Nigeria’s metering gap, reduce estimated billing and promote local meter production.

“We have decided to carry out a full investigation with a view to addressing several anomalies in the electricity distribution sector,” Okonkwo said, warning that the committee would invoke constitutional provisions against any obstruction.

The panel also expressed concern that some distribution companies — including those serving Abuja, Ikeja, Eko, Enugu, Kano and Jos — owe the CBN for loans used to install meters, but NERC has not confirmed whether the meters were actually provided.

Despite the funds, Nigeria’s metering gap remains wide. As of the end of 2024, only 46.57 per cent of the country’s 13.5 million electricity customers had been metered, according to NERC data. That figure includes 6,288,624 customers officially registered with distribution companies.

The committee has summoned NERC, Meristem Wealth Management Ltd., NESI–SSL and other stakeholders to provide documents and explanations at its next hearing.