Manufacturers of electricity meters in the country are demanding an increase in the cost of the commodity following the rise in inflation and foreign exchange rates, among other economic variables.
The 17 meter producers in number under the aegis of Meter Asset Providers resolved at the end of a meeting that the Nigerian Electricity Regulatory Commission should carry out an upward review of the current price of prepaid meters across the country.
In a communique issued after the meeting and made available to our correspondent in Abuja on Monday, the MAPs listed the upward review in meter price as the first resolution reached by the manufacturers.
They said, “There should be an upward review of the current price of prepaid meter by NERC in view of rising inflation, continued upward movement of foreign exchange rates, associated increases in customs costs, increase in container freight costs, and the disruptions in the international supply chain.
“These factors lead to a global increase in the prices of raw materials and components for the manufacture of prepaid meters.”
The MAPs, however, noted that there would be corresponding downward review of meter prices when there was a downward movement in foreign exchange rates and other costs.
Nigeria’s power sector is suffering from a huge metering gap and closing this gap is expected to improve revenue collection, transparency, payment discipline, as well as improve customer satisfaction in the industry.
On foreign exchange availability, the meter producers requested that the CBN should guarantee access to forex to local meter manufacturers and assemblers for the procurement of parts and accessories, including equipment for meter manufacturing/production as well as expansion of factory infrastructure.
They called on the Nigerian Customs Service to create dedicated desks/teams at the various ports to fast track the clearing of prepaid meters and components from the ports to improve on delivery timelines.
They also highlighted the need for a change in the modalities for the implementation of the presidential waiver of the 35 per cent levy on fully built prepaid meters and that the timeframe for the waiver should be extended to December 2022.
Speaking to the Journalists at the end of the meeting, Chief Ifeanyi Okeke, the Executive Vice Chairman/CEO of Holley Metering Ltd and Celdon Group, showered enconiums on the Governor of Central Bank of Nigeria, Mr Godwin Emefiele for his foresight and strategic funding of the National Mass Metering Program (NNMP) to close metering gap and end estimates billing system prevalent in the country.
He stated that producers of meters were optimistic that the NNMP would effectively support in closing the metering gap in Nigeria and bring about an end to estimated billing.
Meter producers at the meeting included MEMMCOL (Momas), MOJEC International Ltd, Protogy Global Services Ltd, UNISTAR Hi-Tech Ltd, Integrated Resources Ltd, Conlog Metering Nigeria Ltd, New Hampshire Capital Ltd, Holley Metering Ltd, and Tinuten Nigeria Ltd.
Others include Gospell Digital Technology Ltd, Integrated Power Ltd, Cresthill Engineering Ltd, Bendoriks International, CWG Plc, Electrometer NG, Meron Nigeria Ltd, and ARMESE Consulting Ltd.
