Ajaokuta Steel Company Limited and its host community failed to settle a total of N5.77bn in electricity invoices throughout 2025, according to quarterly reports obtained from the Nigerian Electricity Regulatory Commission (NERC).
THE WHISTLER‘s analysis of the reports showed that the special customer, comprising the steel company and its host community in Ajaokuta Local Government Area of Kogi State, made no payment toward electricity bills issued by the Nigerian Bulk Electricity Trading Plc (NBET) and Market Operator (MO) in any of the four quarters of the year.
According to the commission, the unpaid invoices comprised N4.94bn in NBET charges and N480m in Market Operator bills, bringing the total outstanding obligation for the year to approximately N5.77bn.
A further breakdown of the debt showed that in the first quarter of 2025, the special customer received invoices of N1.38bn from NBET and N130m from the Market Operator but made no payment.
In the second quarter, Ajaokuta Steel and its host community failed to settle N1.27bn in NBET invoices and N120m in Market Operator charges.
Also, the trend continued in the third quarter, with the customer defaulting on N1.03bn owed to NBET and N100m due to the Market Operator.
In the fourth quarter, the company again recorded zero remittance despite receiving invoices amounting to N1.26bn from NBET and N130m from the Market Operator.
Throughout the four quarters, the NERC reports stated: “The special customer (Ajaokuta Steel Company Ltd and the host community) did not make any payment towards the NBET and MO invoices received during each of the four quarters”.
The WHISTLER recalls that the Ajaokuta Steel Plant has remained largely inactive for decades despite repeated government efforts to revive the facility.
The project has continued to face setbacks, including funding constraints, legal disputes, and policy inconsistencies, while still incurring electricity costs for power supplied to the facility and its host community.
(The Whistler)