Meter providers decry forex hurdles, others | Dailytrust

Meter providers decry forex hurdles, others

Electricity Meters
Electricity Meters

Electricity Meters Assets Providers (MAPs) have decried the poor access to foreign exchange (forex) among other needs to deliver meters for power consumers.

The operators also called on the Nigerian Electricity Regulatory Commission (NERC) to make an upward review of prepaid meter prices to reflect current realities.

According to a communique the operators issued after their meeting in Lagos, the new price regime is imperative due to rising inflation figures, increasing forex value, rise in customs clearance and freight costs for imported meter components.

All these are “leading to a global increase in the prices of raw materials and components for the manufacture of prepaid meters,” the MAPs said.

Speaking on the side-line of the meeting, the CEO of Holley Metering Ltd and Celdon Group, Ifeanyi Okeke, lauded the Central Bank of Nigeria (CBN) for financing the National Mass Metering Programme (NMMP) which is expected to close the metering gap and end estimated billing. They, however, called on the apex bank to guarantee more forex supply for the operators for the procurement of parts and accessories for meters.

The operators also want the Nigeria Customs Services (NCS) to create a dedicated desk to speed up the clearance of imported components.

“MAPs are crucial to the attainment of the mass metering roll-out having invested, built and trained critical manpower and logistics for installation and management of prepaid meters,” they said.

Present at the meeting were heads of Global Services Ltd, UNISTAR Hi-Tech Ltd, Integrated Resources Ltd, Conlog Metering Nigeria Ltd, New Hampshire Capital Ltd, Holley Metering Ltd, Tinuten Nigeria Ltd, Gospell Digital Tech Ltd, Integrated Power Ltd, Cresthill Engineering Ltd, Bendoriks International, and CWG Plc.

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