According to a report released by the Nigerian Electricity Regulatory Commission (NERC), three African countries, namely, Niger, Benin Republic, and Togo, owe a total of $14.2 million in electricity debt in the first quarter of 2024.
The NERC directed the Electricity Market Operator (MO) under the Transmission Company of Nigeria(TCN) to enforce the necessary market rules for collecting the $14.2 million owed to Nigeria by international customers in Q1 2024.
NERC expressed concern that the countries receiving electricity from Nigeria still need to pay their dues. This information was outlined in NERC’s Q1 2024 report.
The report from NERC stated, “None of the four international bilateral customers receiving services from Generation Companies (Gencos) in the NESI made payment toward the total invoice of $14.19 million issued by the MO for services provided in 2024/Q1.
“As indicated in previous reports, the commission expects the MO to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by local and international bilateral customers.”
It was also reported that two overseas clients settled a total backlog of $5.96 million in unpaid debt to Nigeria.
The three nations are also required to pay Nigeria a total of $1.2 billion for the electricity they received from Nigeria between 2018 and the first quarter of 2023.