BREAKING: Togo, Benin Owe Nigeria $14m For Electricity – FG Reveals

The Nigerian Electricity Regulatory Commission (NERC) has revealed that four international customers owe the Nigerian electricity supply industry a total of $14.19m for services rendered in the first quarter of 2024.

These customers, who are supplied by Nigerian power generation companies, failed to make payments against the cumulative invoice issued by the market operator.

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The debtors include Para-SBEE in Benin Republic, owing $3.15m, Transcorp-SBEE in Benin Republic, owing $4.46m, Mainstream-NIGELEC in Togo, owing $1.21m, and Odukpani-CEET in Togo, owing $5.36m. According to NERC’s report, none of these international customers made any payments for the electricity exported to them.

Nigeria supplies electricity to neighboring countries, including Benin, Togo, and Niger, as part of its international bilateral agreements.

The non-payment by these customers raises concerns about the financial sustainability of Nigeria’s electricity supply industry and its ability to recover costs for services rendered.

The report states:

“In 2024/Q1, none of the four (4) international bilateral customers serviced by the MO made any payment against the $14.19 million invoice issued to them by the MO for services rendered in 2024/Q1.

“Similarly, none of the bilateral customers within the country made any payment against the cumulative invoice of N1,860.11 million issued to them by the MO for services rendered in 2024/Q1.”