shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Electricity Meter Increase: Forex, Customs Charges Responsible- Experts

Electricity Meter Increase: Forex, Customs Charges Responsible- Experts

by Joshua
September 13, 2023
in Market Square

Stakeholders in the power sector have attributed the price increase in prepaid electricity meters to fluntuations in foreign exchange market, increase in Customs charges and Naira devaluation, among others.

The stakeholders, who expressed their concerns in separate interviews with the News Agency of Nigeria (NAN) on Thursday in Lagos, said another factor was multiple charges by different government agencies at ports.

Recall that the Nigerian Electricity Regulatory Commission (NERC), on Sept. 5, granted approval for an upward adjustment in the prices of prepaid electricity meters.

The cost of single-phase prepaid meter is now N81,975.16k, up from the previous N58,661.69k, while a three-phase prepaid meter is N143,836.10k as against the previous N109,684.36k.

Mr Kunle Olubiyo, President, Nigeria Consumer Protection Network, said that the position of importers of the semi-finished pre-paid meters and meter assembling plants owners was that the prices should have been higher.

According to him, the importers and plant owners wanted the price of a single-phase meters to be N90,000 while a three-phase at N160,000 or more.

Olubiyo said that, in the main time, stakeholders should work out a modalities that would make possible for electricity consumers  to acquire already calibrated electricity meters at designated point under strict supervision.

“This should be in accordance and with the synergy by Standard Organisation of Nigeria (SON), Nigerian Electricity Management Services Agency, Electricity Distribution Licensees, Meters Assembling Plants and Representatives of end users customers.

“Considering the low income or disposable incomes of an average Nigerian, it might be difficult for many to afford the new rates without a mechanism for refunds via electricity token.

“This may further increase the huge metering gaps in the electricity market,” he said.

The power expert said that the 40 per cent price increase did not come as a surprise as importers of meters and meters assembling plants had been clamouring for upward review in the last 12 months.

Olubiyo said that it was the duties of electricity consumers in the electricity market to provide meters or fund the deployment of meters meant to enhance cost recovery, energy accountability and returns of investment for electricity distribution companies or
distribution licensees.

He said that the service level agreement is strict obligation pledged by the electricity distribution companies and distribution licensees as a condition precedent to acquisition of the licensees.

Prof. Yemi Oke, a legal consultant and energy advisor, said the price increase was unavoidable, considering the present situation in the country.

“It not for meter alone, even those goods that are manufacturered locally. It also affects imported meters, assembled in Nigeria or manufacturered in Nigeria.

“The component of the meter has gone up given the current exchange rates.

“There is need for government to look into the issues of forex, particularly for metering. What matter is that people should have access to meters and the meters are properly calibrated so that no consumers are shortchanged.

“Consumers should ensure they have meters to be able to manage their consumptions against estimated billings.

“I’ll also advise that the issue of metering should be left with meter manufacturers and Discos should not have businesses in metering, being a business and distinct component of electricity services.

“That could be monitored just like the case of telecom.

“The important thing is that Nigerians has access to meter and be able to regulate and moderate consumption patterns as against subjected to estimated billings,” he explained.

Oke also said he did not subscribe to the Discos upgrading meters.

“May be if some meter had been calibrated in a way. I’ll advise that Nigerians should not be subjected to meter manipulation or calibrated in a way to reap them.

“There is no evidence that existing meters are faulty or malfunctioning. There is no point calling for upgrading or calibration,” Oke added.

Similarly, Mr Adetayo Adegbemle,  Convener, PowerUp Nigeria, said that the increase in meter prices was a response to the changes in the economic indices.

Adegbemle said: “I think we should give some kudos to NERC for not loading the full effect on the published prices.

“However, this is an opportunity to further push for reverting to local content and manufacturing as effective measure to control prices of meters.

“We have pushed for the use of funds saved from fuel subsidy removal to effectively address this issue of metering gap.

“This is something that will definitely reach and help Nigerians to also manage their funds,” he said

 

 


Related Posts

NGX Closes Week  With  Market Capitalization Of N30.3 Trillion 

NGX Market Soars as Trading Volume Jumps 98%, Investors Gain N770bn

June 16, 2025
Ondo Govt. Cracks Down On Cocoa Adulteration

Ondo Govt. Cracks Down On Cocoa Adulteration

June 16, 2025
FG’s Reforms To Crash Food Prices – Minister

FG’s Reforms To Crash Food Prices – Minister

June 16, 2025
Tomato Farmers Attribute Price Hike To Sallah, Low Production

Tomato Farmers Attribute Price Hike To Sallah, Low Production

June 16, 2025

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition