Benin Republic and Togo owe Nigeria $8.84m for the electricity consumed in the fourth quarter of 2024, a new report by the Nigerian Electricity Regulatory Commission revealed.
The commission highlights the remittances made by bilateral customers (domestic and international) and special customers for invoices issued in 2024/Q4 by the Market Operator.
According to the report, the six international bilateral customers being supplied by Gencos in the Nigerian electricity supply industry “made a payment of $5.21m against the cumulative invoice of $14.05m issued by the Market Operator for services rendered in 2024/Q4,” translating to a remittance performance of 37.08 per cent.
The international companies are Paras-SBEE in Benin Republic ($2.65m); Paras-CEET also in Benin ($1.64m); Transcorp-SBEE (Ughelli) in Benin paid $1.71m out of $3.59m; Transcorp-SBEE (Afam 3) paid $0.90m out of its $1.2m invoice; Odukpani-CEET in Togo owes $2.37m.
The report showed that only Mainstream-NIGELEC paid off a $2.60m invoice issued to the company by the market operator.
NERC added that the domestic customers made a cumulative payment of N1.25m against the invoice of N1.98m issued to them by the market operator for services rendered in the last quarter of 2024, translating to 63.36 per cent remittance performance.
“It is noteworthy that some bilateral customers (both domestic and international customers) made payments during 2024/Q4 for outstanding MO invoices from previous quarters. Paras-CEET, Pars-SBEE and Transcorp-SBEE made payments of $0.98m $0.7m, and $1.3m respectively, towards outstanding invoices from previous quarters.
“Similarly, the MO received N135.81m from the domestic bilateral customers [NDPHC-Weewood: N21.17m; North South/Star Pipe: N11m; Taopex: N83m; and Trans-Amadi (OAU/FMPI): N20.74m towards outstanding invoices from previous quarters.
The regulator reports that the special customer, Ajaokuta Steel Co. Ltd, and the host community did not make any payment towards the N1.27bn (NBET) and ₦0.11bn (MO) invoices received in 2024/Q4.
“This continues a longstanding trend of non-payment by this customer, and the commission has communicated the need for intervention on this issue to the relevant FGN authorities.