By Gloria Ikibah
The House of Representatives Adhoc Committee probing Nigeria’s power-sector reforms and spending between 2007 and 2024 has instructed the Central Bank of Nigeria, the Transmission Company of Nigeria and SEPLAT Gas Company to provide comprehensive documentation on their agreements, payment structures and related transactions by Tuesday, 9 December 2025.
The directive was issued by the Chairman of the Committee, Rep. Ibrahim Almustapha Aliyu, during the resumed on Wednesday in Abuja. 
Aliyu noted that the three institutions are central to understanding how the reform framework has operated, stressing that detailed records, including loan beneficiaries, operational processes and contractual arrangements are crucial for the committee to present meaningful recommendations to the House.
He reiterated the committee’s position that the country’s privatisation drive has fallen short of expectations and requires a full review.
He further added that every organisation appearing before the panel must support its submissions with complete financial documents and any additional information requested, to enable a thorough assessment of the sector’s performance.
In his presentation, Deputy Director, Development Finance Department of CBN, Abdulrahman Hasan, told lawmakers that his agency as a regulator of banks had fulfilled its mandate of ensuring effective power reform in Nigeria by giving loans to different companies in order to enable them provide power.
He said the projects were executed in phases such as save 1, save 2 among others.
Also Huseni Idris from the same Development Finance Department of CBN, informed that all the intervention projects had a 10-year period, claiming that all the companies who collected loans from his agency had done wonderfully well even as he informed lawmakers that the power sector in Nigeria has a very huge challenge.
According to the CBN, Yola Disco company, benefited from the loan, but had serious security challenges, hence an extension of a three-year period to enable them succeed.
While responding to questions by the committee on terms and agreements as well as how much the transmission and distribution companies received, Idris promised to furnish the panel with all information and documents at the next adjourned date.
The representatives of CBN told the lawmakers that it has pre-monitoring as well as post-monitoring mechanisms where the loans and projects executed are tracked.
In their presentation, the representative of the Transmission Company of Nigeria (TCN), Ajiboye Oluwagbenga pleaded with the panel for a one-week extension to enable him provide detailed information to the lawmakers.
It was gathered that the company was currently dealing with 3 major issues which include power generation, power distribution as well as power transmission.
While reacting, the panel said it has received all their complaints and requests, promising to look into them at the next adjourned date.
Conclusively, the SEPLAT Gas Company Representative, James Makinde, solicited for legislative assistance from the panel noting that his company is facing several financial challenges across the country for the purpose of providing gas.
