The Nigerian Electricity Regulatory Commission(NERC) has revealed in its latest report that Togo and Benin owe Nigeria a combined total of $5.79 million in electricity debt for the second quarter of 2024.
According to NERC’s records, out of the $15.60 million invoice issued by the market operator between April and June 2024, the international customers only paid $9.81 million to Nigeria.
The companies receiving power from Nigeria are Para-SBEE in Benin Republic ($1.23 million), Transcorp-SBEE in Benin ($4.25 million), Mainstream-NIGELEC in Togo ($1.09 million), and Odukpani-CEET in Togo ($3.47 million).
In specific, Para-SBEE in Benin Republic paid 71.21% of the $4.29 million billed, Transcorp-SBEE in Benin paid 100% of the $4.25 million billed, Mainstream-NIGELEC in Togo paid 69.72% of $3.59 million, and Odukpani-CEET did not make any payments during this period.
It’s worth noting that in the first quarter, none of the four international bilateral customers that receive power from the power generation companies made payments against the cumulative invoice of $14.19 million issued by the market operator for services rendered.
However, the Q2 report highlighted that some bilateral customers, both domestic and international, settled outstanding invoices from previous quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the report disclosed.
“The four international bilateral customers being supplied by Gencos in the NESI made a payment of $9.81 million against the cumulative invoice of $15.60 million issued by the Market Operator for services rendered in 2024/Q2, translating to a remittance performance of 62.88%”, it added.