Benin Republic and Togo currently owe Nigeria $8.84 million for electricity consumed in the fourth quarter of 2024, according to the Nigerian Electricity Regulatory Commission (NERC). The report, which outlines the remittances made by both domestic and international customers, reveals a significant shortfall in payments by the six international bilateral customers receiving power from Nigerian generating companies (Gencos).
The total invoice issued for services rendered in the fourth quarter amounted to $14.05 million, but only $5.21 million was remitted, representing a remittance performance of just 37.08 percent. Among the international customers, Benin Republic’s Paras-SBEE owes $2.65 million, while another Benin-based company, Paras-CEET, has an outstanding balance of $1.64 million. Transcorp-SBEE, with both Ughelli and Afam 3 plants, owes a combined $2.61 million for services rendered.
Togo’s Odukpani-CEET owes $2.37 million, contributing significantly to the total unpaid balance. In contrast, Mainstream-NIGELEC, another international customer, has fully paid its $2.60 million invoice, setting a positive example for the others.
The outstanding debts from these countries underscore ongoing challenges in electricity payments within the West African region, affecting Nigeria’s power sector revenue.
