Financial Energy Review
……by Ben Ndubuwa…..
The Meter Manufacturers and Assemblers Association of Nigeria (MMAAN) has commended the Federal Government over the inclusion of local meter manufacturers in the quest for economic development.
MMAAN pointed out that in the recent report release with the titled “Buhari’s Footprints on the Sands of Time” stated that the nationwide rollout of electricity meters under the National Mass Metering Programme generated 10,000 new jobs in meter installation and assembly.
“For the avoidance of doubt, meter installation and assembly is directly under the output schedule of local meter manufacturers, through whom the Federal Government planned on stimulating meter manufacturing industry in Nigeria, not only to bridge the electricity meter gap, but to work towards Backward Integration Programme intended to guarantee Nigeria’s long term economic resilience and sustainability.
“We hereby thank the Federal Government and its agencies, especially the Central Bank of Nigeria (CBN), for financing the National Mass Metering Programme (NMMP), and the Nigerian Electricity Regulatory Commission (NERC) for patriotic and efficient regulation.
“However, the figure released by the government only scratches the surface of our contributions so far. First of all, while we provided 1 million quality meters in the first phase (Phase 0) referred to by the Government, official estimates put multiplier effects to have reached at least 3000 persons per factory; thus, about 50,000 jobs were created for support services personnel, meter installers and after-sales service providers nationwide
“Hence, our national offerings are outstanding in technical terms, but more universal in the creation of multi-layered deliverables in a chain of multiplier effects which effectively surpass the Federal Government’s 10,000 job numbers” MMAAN said.
The Association maintained that all meters the members produced are distinctly durable, fit for the Nigerian environment and duly tested and certified for quality by the Nigerian Electricity Management Services Agency (NEMSA).
MMAAN pointed out that after meeting expectations and delivering on Phase 0, the members scaled up their structures and operations accordingly in readiness for the second phase of the NMMP initiated by the Federal Government in 2021.
“Currently, the local meter manufacturing industry has seen an increase from 13 to 43 companies, with a commensurate escalation in manufacturing capacity officially assessed at 4.9 million meters per year; now positioned to provide Nigerian electricity consumers with another 4 million meters.
“But, sadly, the NMMP Phase 1 has been put on hold by the CBN, which effectively threatens the survival of local meter manufacturers, with myriads of potential job loss.
“Thirdly, it is also relevant to look at our stride towards backward integration and wider environmental impact. The meter-manufacturing industry buys large quantities of raw materials from the local producers for its operation, like copper and aluminum cables. Also, each unit of electricity meter requires at least one metre length of rubber pipe (trunking) for its production.
“The environment is also factored in the value chain through waste management services with prospects of expanding the country’s circular economy spinoff industry.
“On the same hand, while the Nigerian economy benefits from tax payments and customs duty remitted by our companies to the government, this emerging industry is also actively involved in technology transfer and aftersales services which strengthen the intellectual fabric of the country’s evolving engineering expertise and empowers the artisanal layer of the informal sector.
“It is therefore against this backdrop of enormous national value, that we express shock at seeing our association unjustifiably linked in some media reports to alleged corruption and weak regulation in the nation’s power sector. We wish to state with certainty and clarity, that we have only set our mind on adding our own building blocks to the growing edifice of the industrial revolution in our dear country.
“The specific case mentioned is where the CBN, in July 2022, froze some Meter Asset Providers’ bank accounts (some local meter manufacturers inclusive), but later unfroze them after investigations.
“We hereby note that since the CBN and relevant government agencies have concluded their work, it would be in order to issue an official (letter of) clearance to the affected local meter manufacturers, so as to adequately update the esteemed media and the general public.
“Finally, while we call on the Federal Government to continue in its kind efforts of providing a conducive environment to help us contribute to its national objectives, we wish to state that we shall extend the same energy and spirit to the incoming administration of President-elect, His Excellency, Asiwaju Bola Ahmed Tinubu and Vice President-elect, His Excellency, Alhaji Kashim Shettima, who were sworn into office on May 29, 2023. Long live Meter Manufacturers and Assemblers Association of Nigeria. Long live the Federal Republic of Nigeria” the Association said.
