Benin Republic and Togo collectively owe Nigeria $8.84 million for electricity consumption during the fourth quarter of 2024, according to a report from the Nigerian Electricity Regulatory Commission (NERC).
The report, released by the market operator, revealed that the six international bilateral customers supplied by Nigerian power companies made partial payments, settling just 37.08% of the $14.05 million invoice issued for services rendered in the last quarter of 2024.
Among the customers, the Benin Republic’s Paras-SBEE owes $2.65 million, while Paras-CEET owes $1.64 million. Additionally, Transcorp-SBEE’s operations in Benin, which include both the Ughelli and Afam 3 plants, paid $1.71 million out of $3.59 million and $0.90 million out of $1.2 million, respectively. Togo’s Odukpani-CEET owes $2.37 million, contributing to the total outstanding amount.
The NERC report also noted that only one international customer, Mainstream-NIGELEC, fully cleared its invoice, paying $2.60 million in full.
Regarding domestic customers, the report showed that Nigerian electricity distribution companies made a cumulative payment of N1.25 million against an invoice of N1.98 million, representing a remittance performance of 63.36%. The report also highlighted that some customers made payments for outstanding invoices from previous quarters. Notably, Paras-CEET, Paras-SBEE, and Transcorp-SBEE paid $0.98 million, $0.7 million, and $1.3 million, respectively, towards these overdue amounts.
The NERC further revealed that certain domestic bilateral customers, including NDPHC-Weewood, North South/Star Pipe, Taopex, and Trans-Amadi, contributed N135.81 million toward clearing past due invoices.
In a separate note, the report stated that Ajaokuta Steel Co. Ltd. and the host community did not make any payments toward the N1.27 billion and N0.11 billion invoices for the fourth quarter of 2024, respectively.
In total, Nigerian electricity distribution companies generated N509.84 billion in Q4 2024, achieving 77.44% of the N658.40 billion billed to customers. This collection efficiency represents a slight improvement of +2.89 percentage points compared to Q3 2024.
