The Association of Meter Manufacturers of Nigeria, AMMON, representing the interests of electricity meter manufacturers, has urged President Bola Tinubu-led administration to tackle the challenges posed by fluctuations of foreign exchange in the metering sector.
This is even as the association appreciates the recent establishment of the Presidential Committee on Mass Metering, under the able leadership of the Minister of Power, Chief Adebayo Adelabu, describing it as a bold step towards addressing the pressing challenges in the metering sector.
However, in a statement obtained by The Daily, https://thedaily-ng.com, AMMON which looks forward to collaborating with the committee, said that the foreign exchange fluctuations have impacted negatively on the operations in the sector.
It stated: “AMMON has expressed her concern over the challenges posed by foreign exchange fluctuations as it impacts the continuous supply of electricity meters to the Nigerian Electricity Supply Industry, NESI. As the demand for meters continues to grow, the association emphasizes the urgent need for regulatory measures to address the issue of a fixed meter price when all input costs are affected by increasing inflation and foreign exchange movements. This attention is urgently required to ensure the seamless provision of meters across the nation.
“This strategic move would not only facilitate the sustainability of the meter manufacturing industry but also ensure that end-users have access to reliable and affordable electricity meters. As such, AMMON calls on regulatory authorities to consider the liberalization of meter prices, allowing manufacturers to adapt to market dynamics and maintain a steady supply of meters.”
“AMMON urgently calls on regulatory authorities and stakeholders to prioritize and expedite measures to address the impending shortage which is occasioned by a three month, and growing, supply chain gap by our estimates. If this action is taken, it will ensure the continued and uninterrupted supply of meters to meet the nation’s growing demand for reliable electricity services barring the short gap already realized.
“Furthermore, AMMON advocates 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.”
It added: “AMMON remains committed to supporting the nation’s power sector and believes that these proposed measures will contribute to a more robust and resilient electricity metering ecosystem. AMMON looks forward to engaging with relevant stakeholders to implement these recommendations and address the challenges currently faced by the meter manufacturing industry in Nigeria.”
