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Wednesday, July 28, 2021
Home Midstream Gas/Power Manufacturers seek upward review of prepaid meter price

Manufacturers seek upward review of prepaid meter price

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.Want presidential waiver of 35% per cent levy on fully built prepaid meters extended to Dec. 2022

Meter Asset Providers have called on the federal government to review upward, the current price of prepaid meter by the Nigerian Electricity Regulatory Commission (NERC) in view of rising inflation, continued upward movement of foreign exchange rates.

The group in a communiqué issued at the end of their meeting in Lagos, also demanded that the implementation of the presidential waiver of the 35 per cent levy on fully built prepaid meters and extension up to December 2022 while the list of all NERC approved MAPs benefitting from the levy waiver should be made available by NERC/FMF to the Customs to circulate to their commands, thus removing the requirement from MAPs to individually apply to NERC each time.

The group noted that the increase in the cost of prepaid meter is necessary as a result of associated increases in customs costs, increase in container freight costs, and the disruptions in the international supply chain, leading to a global increase in the prices of raw materials and components for the manufacture of prepaid meters.

MAPs, however, note that there will be a corresponding downward review of meter prices when there is a downward movement in foreign exchange rates and other cost factors.

“Foreign Exchange Availability: The CBN should guarantee access to foreign exchange to Local Meter Manufacturers and Assemblers for the procurement of parts and accessories (Completely Knocked Down (CKD) or Semi Knocked Down (SKD) parts) including equipment for meter manufacturing/production as well as expansion of factory infrastructure”.

MAP noted that the Nigerian Customs Services (Customs) should be encouraged to create dedicated desks/teams at the various ports to fast track the clearing of prepaid meters and components from the ports to improve on delivery timelines. Further, it is crucial that Fed Min of Finance and Customs harmonise and provide clarity on HS codes for uniform assessment as relates to meters, meters parts, components and accessories.

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