Reps panel orders CBN, TCN, SERPLAST to submit power sector documents

The House of Representatives Ad hoc Committee probing Nigeria’s power sector reforms from 2007 to 2024 has directed the Central Bank of Nigeria (CBN), the Transmission Company of Nigeria (TCN) and SERPLAST Gas Company to submit full records of their agreements, payment structures and transactions by December 9, 2025.

The directive was issued by the committee chairman, Hon. Ibrahim Almustapha Aliyu during a resumed hearing at the National Assembly, Tuesday in Abuja

Aliyu described the three institutions as major stakeholders in the reform process, saying their documents would help the panel prepare informed recommendations to the House.

He noted that the committee is taking a holistic look at the power sector, adding that the privatisation exercise has not delivered the expected benefits to Nigerians.

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At the hearing, Abdulrahman Hasan, Deputy Director in CBN’s Development Finance Department said the bank had supported power sector reforms by giving intervention loans to companies, explaining that the projects were implemented in phases.

Another official, Huseni Idris, said the interventions had a 10 year repayment period, claiming most beneficiaries performed well, despite challenges in the sector.

Idris added that Yola Electricity Distribution Company received a three year extension due to security issues in its operational region.

He assured lawmakers that the CBN would submit all loan agreements, terms and disbursement details at the next sitting.

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TCN’s representative, Ajiboye Oluwagbenga, requested a one week extension to provide the required documents, saying the company was managing issues in power generation, transmission and distribution.

The committee said it would consider TCN’s request.

SERPLAST Gas Company’s representative, James Makinde, appealed for legislative suppor, pointing out that the company was battling financial constraints affecting gas supply across the country.