The Association of Meter Asset Providers (MAPs) has called for an upward review of the current price of prepaid meters by the Nigerian Electricity Regulatory Commission (NERC) to meet the challenges occasioned by rising inflation.
It noted that 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, leading to a global increase in the prices of raw materials and components for the manufacture of prepaid meters necessitated the need for an upward review.
The Meter providers also noted that there would be a corresponding downward review of meter prices when there is a downward movement in foreign exchange rates and other cost factors. The association in a communiqué at the end of its meeting assured that closing the metering gap would improve revenue collection, transparency, payment discipline, and improve customer satisfaction in the power industry.
The Meter providers also asked the Central Bank of Nigeria to guarantee access to foreign exchange to Local Meter Manufacturers and Assemblers for the procurement of parts and accessories (Completely Knocked Down (CKD) or Semi Knocked Down (SKD) parts) including equipment for meter manufacturing/production as well as expansion of factory infrastructure.
