The Nigerian Electricity Regulatory Commission (NERC) has revealed that customers from Benin Republic, Niger, and Togo owe the country $5.79 million for electricity supply in the second quarter of this year
The commission disclosed this in its latest quarterly report released at the weekend.
Under an international treaty, Nigeria sells electricity to neighbouring countries like Benin Republic, Togo, and Niger.
The firms are Paras-SBEE and Transcorp-SBEE both from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
The debt by the international customers amounts to N9.41 billion when converted using the official exchange rate of N1626.32/$1 the prevailing exchange rate as of October 10
However, this marked an improvement from the zero payment by the international customers in the first quarter of the year.
In the NERC’s first quarter report, none of the four international customers made any payments for electricity exported to them.
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The report read: “In 2024/Q1, none of the 4 international bilateral customers serviced by the Market Operators (MO) made any payment against the $14.19 million invoice issued to them by the MO for services rendered in 2024/Q1.
“Similarly, none of the bilateral customers within the country made any payment against the cumulative invoice of N1,860.11 million issued to them by the MO for services rendered in 2024/Q1”
The commission noted that market operators (MO) issued an invoice of $15.60 million to four firms in three countries.
Out of the aforementioned value, the electricity regulator said only $9.81 million was paid.
The electricity regulator also said domestic bilateral consumers failed to remit N695.4 million out of N1.99 billion in the same quarter.
It added: “In 2024/Q2, the four (4) international bilateral customers serviced by the MO made a cumulative payment of $9.81 million against the $15.60 million invoice issued to them by the MO for services rendered in 2024/Q2.
“Similarly, the domestic bilateral customers made a cumulative payment of ₦1,295.90 million against the cumulative invoice of ₦1,991.30 million issued to them by the MO for services rendered in 2024/Q2.”
By: Babajide Okeowo
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