Implement Local Content Law, indigenous meter manufacturer tells government

Momas Electricity Meters Manufac- turing Company Limited (MEMMCOL) has appealed to President Mu- hammadu Buhari to imple- ment the Local Content Law in power sector. Kola Balogun, chairman, MEMMCOL, made the ap- peal in an interview with the News Agency of Nigeria in Lagos, yesterday.

Balogun said implemen- tation of the Local Content Law in the power sector would address issues associ- ated with estimated billing and illegal importation of meters, as low patronage of local meter manufacturers could result in massive lay- off of workers.

The meter manufacturer said the low patronage of local meter manufacturers by some of the power firms had affected revenue profile of his company, saying only few distribution companies (Discos) patronised and bought meters from local manufacturers.

Upfront payments were not usually made by buyers which had resulted in rising debt profile of his company, he said, as “most of the dis- tribution companies prefer to make upfront payments to foreign companies, but will want us to supply them on credit; this is not fair.”