A new report from the Nigerian Electricity Regulatory Commission shows that the Republic of Benin and Togo owed Nigeria $8.84 million to electricity consumed.
The committee highlights the remittances from bilateral customers (domestic and international) and special customers issued by market operators in 2024/Q4.
According to the report, six international bilateral clients provided by Gencos in the Nigerian power supply industry “paid $5.21 million in payments, which were issued by market operators with a cumulative invoice for the 2024/Q4 service, “transformed into 37.08% remittance performance.
The international company is Paras-sbee of the Republic of Benin ($2.65 million); Paras-Ceet of Benin ($1.64 million); Transcorp-sbee (Ughelli) of Benin paid $1.71 million out of $359,000; Transcorp-Sbee (AFAM 3) paid $900,000 in its $1.2 million invoice; Odukpani-Ceet of Togo owed $2.37 million.
The report shows that only mainstream Nigelec paid off the $2.6 billion invoices issued by market operators to the company.
NERC added that domestic customers made cumulative payments of $125 million, the invoice was a cumulative payment of $198 million from N198 million sent to them by market operators for services provided in the last quarter of 2024, and translated into 63.36% remittance performance.
“It is worth noting that some bilateral clients (family and international clients) paid during the 2024/Q4 period for outstanding MO invoices for the previous quarter. Paras-Ceet, Pars-Sbee and Transcorp-Sbee paid $980,000, $19,000, respectively, and $1.3 million respectively, respectively, providing outstanding invoices to previous Quarters, respectively.
“Similarly, MO obtains N135.81M from domestic bilateral clients[NDPHC-Weewood:N2117M;NORTH/STARPIPE:N11M;N11M;TAOPEX:N83M;n83m;andTrans-Amadi(OAU/FMPI):N2074mtotoPreviousQuareQuartersfromQuarreQuarerfromQuartersfromQuockfromQuocefromQuoce[NDPHC-Weewood:N2117m;NorthSouth/StarPipe:N11m;Taopex:N83m;andTrans-Amadi(OAU/FMPI):N2074mtowardsoutstandinginvoicesfrompreviousquarters[NDPHC-Weewood：N2117M;NORTH/STARPIPE：N11M;N11M;TAOPEX：N83M;n83m;andTrans-Amadi（OAU/FMPI）：N2074mtoto以前的QuareQuartersfromQuareQuarefromQuarefromQuartersfromQuoffectsfromQuockfromQuocefromQuoce。[NDPHC-Weewood:N2117m;NorthSouth/StarPipe:N11m;Taopex:N83m;andTrans-Amadi(OAU/FMPI):N2074mtowardsoutstandinginvoicesfrompreviousquarters
Regulators reported that special client Ajaokuta Steel Co. Ltd and the host community did not make any payments to the N127 billion (NBET) and ₦11 million (MO) invoices received in 2024/Q4.
“This continues the long-term non-payment trend for this client, and the Commission has communicated the need for intervention in this issue to the relevant FGN authorities.
