Business

Why 17 Metering Companies in Nigeria Need More Money

Surprisingly, metering companies in Nigeria are requesting more money for their products due to the incessant state of inflation and the fluctuating foreign exchange rate in the nation’s economy.

Speaking at a meeting through an association known as the Meter Asset Providers, MAP, the group resolved that the Nigerian Government should endeavour to consider an upward review of the existing purchase price of prepaid meters nationwide.

As contained in a document issued to Journalists in Abuja yesterday, the group urged the Nigerian Electricity Regulatory Commission, NERC, to consider increasing the cost of meters as several factors, including rising custom charges, interruptions in international supply chains, among others, are weighing heavily on their operations.

The association noted that meters’ availability in every home in Nigeria would eradicate estimated billings, create transparency and accountability in the metering process. The communique also revealed that customers would only be charged based on the electricity consumed.

Metering Companies in Nigeria

Meanwhile, a member of one of the Metering Companies in Nigeria and the current Executive Vice Chairman/Chief Executive Officer, CEO, Holly Metering Ltd., Ifeanyi Okeke, spoke on the value of the National Mass Metering Programme, NMMP.

He said the NMMP would help address the metering deficit in Nigeria, which would, in turn, increase revenue collection and customer satisfaction, to mention a few.

The group also pleaded with the Central Bank of Nigeria, CBN, to guarantee access to foreign exchange to local meter manufacturers and assemblers to procure parts and accessories.

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