• Wed. Jun 12th, 2024

Electricity Meter Manufacturers Urge Government Intervention Amidst Forex Crisis, Inflation

In a plea for urgent government action, the Association of Meter Manufacturers of Nigeria (AMMON) is calling for intervention to address the pressing challenges in the electricity metering sector, particularly the foreign exchange crisis and inflation.

AMMON has urged the Bola Tinubu-led government to implement measures to combat the negative impacts of forex fluctuations and inflation on the meter manufacturing industry. The association emphasizes the need for the liberalization of meter prices to enable manufacturers to adapt to market dynamics and ensure a consistent supply of meters.

While appreciating the recent establishment of the Presidential Committee on Mass Metering under Minister of Power, Chief Adebayo Adelabu, AMMON expressed concern about the adverse effects of foreign exchange fluctuations on the industry’s operations.

The association 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.”

Highlighting the urgency of the situation, AMMON warned of a potential critical shortage of meters available for installation within the next 14 days if swift intervention is not undertaken.

AMMON urged regulatory authorities and stakeholders to prioritize and expedite measures to address the impending shortage. The association called for collaboration with the Nigerian Electricity Management Services Agency (NEMSA) to develop cost-effective meter specifications tailored to NESI requirements.

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

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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