The Nigerian Electricity Regulatory Commission has revealed that Benin Republic and Togo owe Nigeria $8.84 million for the electricity consumed in the fourth quarter of 2024.
NERC made this revelation in a report detailing the payments made by bilateral customers (both domestic and international) and special customers for invoices issued in Q4 2024 by the Market Operator.
The report stated that Gencos in the Nigerian electricity supply industry supplies six International bilateral customers. The customers made a payment of $5.21 million against the cumulative invoice of $14.05 million issued by the Market Operator for services rendered in 2024/Q4.
The international customers include Paras-SBEE in Benin Republic ($2.65 million); and Paras-CEET also in Benin ($1.64 million). Furthermore, Transcorp-SBEE (Ughelli) in Benin paid $1.71 million out of $3.59 million while Transcorp-SBEE (Afam 3) paid $0.90 million out of its $1.2 million invoice.
While the report showed that Odukpani-CEET in Togo owes $2.37 million, it stated that only Mainstream-NIGELEC paid off the entire $2.60 million invoice issued to the company by the market operator. These figures translate to a remittance performance of 37.08 percent.
Furthermore, NERC noted that the domestic bilateral customers made a cumulative payment of N1.25 million against the invoice of N1.98 million the market operator issued to them. This was for services rendered in the last quarter of 2024, translating to 63.36 per cent remittance performance.
However, the special customer, Ajaokuta Steel Co. Ltd, and the host community did not make any payment towards the N1.27 billion (NBET) and ₦0.11 billion (MO) invoices received in 2024/Q4. The commission said that it reported the company to the relevant authorities for continuous non-payment of issued invoices.
Lastly, NERC disclosed that electricity distribution companies in Nigeria generated N509.84 billion in the last three months of 2024. According to the report, this represents 77.44 percent of the N658.40 billion the commission billed to customers within the fourth quarter of 2024.
