The Nigerian Electricity Regulatory Commission (NERC) has revealed that Togo and Benin Republic owe Nigeria $14.19 million for electricity supplied in the first quarter of 2024. This debt is owed by four foreign companies: Para-SBEE ($3.15 million) and Transcorp-SBEE ($4.46 million) in Benin, and Mainstream-NIGELEC ($1.21 million) and Odukpani-CEET ($5.36 million) in Togo.
According to the NERC report, none of these companies paid for the electricity invoices issued during the period. Local Nigerian customers also failed to remit a cumulative invoice of $1.86 million for services rendered in Q1 2024. However, NERC noted that some payments were made toward outstanding debts from previous quarters, with two international customers paying $5.96 million and eight local customers paying N505.71 million.
“Cumulatively, a total of $5.96 million was paid by two international customers. Similarly, the Market Operator received N505.71 million from eight local bilateral customers as payment towards debts that were incurred pre-2024/Q1,” the report indicated.
The commission expressed concern over what it described as “payment indiscipline” among local and international customers and urged the Market Operator to enforce market rules to address the issue. This situation follows a previous report in May that international consumers failed to remit $51.26 million for electricity exported from Nigeria in 2023.
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