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It noted that continued upward movement of foreign exchange rates, associated increases in customs costs, increase in container freight costs, and the disruptions in the international supply chain, leading to a global increase in the prices of raw materials and components for the manufacture of prepaid meters necessitated the need for an upward review.
The Meter providers also asked the Central Bank of Nigeria to guarantee access to foreign exchange to Local Meter Manufacturers and Assemblers for the procurement of parts and accessories (Completely Knocked Down (CKD) or Semi Knocked Down (SKD) parts) including equipment for meter manufacturing/production as well as expansion of factory infrastructure.
The communiqué also calls for the removal of bottlenecks in the Customs clearing process, saying that the Nigerian Customs Services should be encouraged to create dedicated desks/teams at the various ports to fast track the clearing of prepaid meters and components from the ports to improve on delivery timelines..
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