Meter Manufacturers Demand Price Hike Over Devaluation

A total of 17 manufacturers of electricity meters are demanding an increase in the cost of the commodity following the rise in inflation and foreign exchange rates, among other economic variables.

The meter producers 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.

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.

Speaking on the side-lines of the meeting, the Executive Vice Chairman/Chief Executive Officer, Holley Metering Ltd and Celdon Group, Ifeanyi Okeke, commended the Central Bank of Nigeria for funding the National Mass Metering Programme.

He said producers of meters were optimistic that the NMMP would effectively support in closing the metering gap in Nigeria and bring an end to estimated billing.

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.

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