Tuesday, March 25, 2025 - 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.
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