The Nigerian Electricity Regulatory Commission (NERC) has revealed that Togo and Benin owe Nigeria a cumulative $14.19 million for electricity supplied during the first quarter of 2024.
The unpaid debt highlights a significant issue in the Nigerian electricity supply industry, where four international bilateral customers have not made payments against invoices issued by the market operator.
The debt is owed by Para-SBEE in Benin Republic ($3.15 million), Transcorp-SBEE in Benin ($4.46 million), Mainstream-NIGELEC in Togo ($1.21 million), and Odukpani-CEET in Togo ($5.36 million).
The report also revealed that no payments were made by local bilateral customers against a cumulative invoice of N1.86 million for services rendered in the same period.
However, NERC noted that some international and local customers had made payments towards outstanding debts from previous quarters.
Specifically, $5.96 million was paid by two international customers, and N505.71 million was received from eight local bilateral customers for debts incurred before the first quarter of 2024.
The Federal Government has expressed concerns over the ongoing payment indiscipline among bilateral customers and urged the Market Operator, an arm of the Transmission Company of Nigeria (TCN), to enforce market rules to address the issue.
In 2023, international consumers failed to remit about $51.26 million to Nigeria for electricity exports, further compounding the financial challenges in the sector.
NERC has condemned the non-remittances, emphasizing the need for stricter measures to ensure timely payments.
