Meter Manufacturers Seek Government Intervention to Tackle Forex Crisis, Inflation and Instability in Metering Sector

The Association of Meter Manufacturers of Nigeria (AMMON) has called on the President Bola Tinubu-led government to take urgent action to address the challenges facing the metering sector, including foreign exchange fluctuations, inflation, and instability.

AMMON, which represents the interests of electricity meter manufacturers in Nigeria, expressed concern over the negative impact of foreign exchange fluctuations on the continuous supply of meters to the Nigerian Electricity Supply Industry (NESI).

With increasing demand for meters, the association emphasized the need for regulatory measures to address the issue of a fixed meter price when all input costs are affected by rising inflation and foreign exchange movements.

Liberation of Meter Prices Proposed to Ensure Sustainability and Steady Supply

AMMON proposed the liberalization of meter prices as a strategic move to facilitate the sustainability of the meter manufacturing industry and ensure a steady supply of meters. This would allow manufacturers to adapt to market dynamics and adjust prices according to input costs, ultimately leading to a more efficient and resilient metering ecosystem.

Urgent Action Needed to Prevent Meter Shortage

The association warned that if urgent action is not taken, there will be a critical shortage of meters available for installation within the next 14 days. This could exacerbate existing challenges faced by the NESI and hinder progress towards achieving widespread access to electricity meters. AMMON urged regulatory authorities and stakeholders to prioritize and expedite measures to address the impending shortage.

Collaboration with NEMSA to Develop Cost-Effective Meter Specifications

AMMON also advocated for collaboration between regulatory bodies and the Nigerian Electricity Management Services Agency (NEMSA) to develop cost-effective meter specifications tailored to NESI requirements. By working closely with NEMSA, the association believes that it can contribute to the development of standards that promote affordability without compromising quality and reliability.

AMMON Committed to Supporting the Nation’s Power Sector

AMMON reiterated its commitment to supporting the nation’s power sector and believes that the proposed measures will contribute to a more robust and resilient electricity metering ecosystem. The association looks forward to engaging with relevant stakeholders to implement these recommendations and address the challenges currently faced by the meter manufacturing industry in Nigeria.

Key Points:

• AMMON urges government to address foreign exchange crisis, inflation, and instability in metering sector.
• Liberalization of meter prices proposed to ensure sustainability and steady supply.
• Urgent action needed to prevent meter shortage within 14 days.
• Collaboration with NEMSA sought to develop cost-effective meter specifications.
• AMMON committed to supporting the nation’s power sector.