Pursuant to the provisions of section 19(d) of the Meter Asset Provider Regulations allowing for the indexing of the unit cost of meters to changes in macroeconomic parameters, the Commission has approved an upward review of the unit cost of MAP meters as follows:
| Meter Type | Current Cost (Naira) | Revised Cost (Naira) |
|---|---|---|
| Single-Phase Meter | 36,991.50 | 44,896.17 |
| Three-Phase Meter | 67,055.85 | 82,855.19 |
Note: All costs are exclusive of Value Added Tax (VAT).
2. In arriving at the approved unit costs, the Commission has considered the recent changes in foreign exchange approved by the Central Bank of Nigeria and the applicable rates available to importers of meter components and/or fully assembled meters through the “Investors & Exporters” forex window. The effective date of the new rates is June 1, 2020.
3. The Commission has also approved the commencement of second round of MAP procurements by Discos to meet up with their roll-out plan for closing the metering gap.
MANAGEMENT
