Manufacturers of electricity prepaid meters are demanding an increase in the price of prepaid meters in view of the rise in inflation and foreign exchange rates and other economic factors.
The meter producers under the aegis of Meter Asset Providers (MAPS) at the end of a meeting agreed that the Nigerian Electricity Regulatory Commission (NERC) should ensure an upward review of the current price of prepaid meters across the country.
The 17 meter manufcaturers at the meeting said inflation coupled with custom levies and other shipping costs made producing prepaid meters more expensive.
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.
READ ALSO: Systemic Problems Stalls Supply Of 3,599MW Electricity To Consumers – NDPHC
“These factors lead to a global increase in the prices of raw materials and components for the manufacture of prepaid meters.”
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 Limited.
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 cost factors.
The meter manufacturers asked that the CBN to ensure access to forex for local meter manufacturers and assemblers for the procurement of parts and accessories, as well as for the expansion of factory infrastructure.
They appealed to the Nigerian Customs Service (NCS) 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.
