FG Says Benin, Togo Owe Nigeria $8.8m in Electricity Debt

Benin Republic and Togo owe Nigeria $8.84 million for electricity consumed in the fourth quarter of 2024, reports show.

According to the Nigerian Electricity Regulatory Commission, which released a report on remittances by bilateral and special customers for Q4 2024, six international customers supplied by Nigerian power generation companies paid $5.21 million out of the $14.05 million invoiced by the market operator, reflecting a 37.08% remittance rate.

The report shows that Paras-SBEE in Benin Republic paid $2.65 million, while Paras-CEET, also in Benin, paid $1.64 million. Transcorp-SBEE (Ughelli) in Benin settled $1.71 million out of its $3.59 million invoice, while Transcorp-SBEE (Afam 3) paid $0.90 million out of $1.2 million. Meanwhile, Odukpani-CEET in Togo still owes $2.37 million.

The report indicated that only Mainstream-NIGELEC fully settled its $2.60 million invoice issued by the market operator.

The Nigerian Electricity Regulatory Commission (NERC) also noted that domestic bilateral customers collectively paid ₦1.25 million out of the ₦1.98 million invoiced for services rendered in Q4 2024, reflecting a remittance rate of 63.36%.

Additionally, the report highlighted that some bilateral customers, both domestic and international, made payments in Q4 2024 toward outstanding Market Operator invoices from previous quarters. Paras-CEET paid $0.98 million, Paras-SBEE remitted $0.7 million, and Transcorp-SBEE cleared $1.3 million in overdue payments.

Similarly, the Market Operator (MO) received ₦135.81 million from domestic bilateral customers as payments toward outstanding invoices from previous quarters. The breakdown includes NDPHC-Weewood (₦21.17 million), North South/Star Pipe (₦11 million), Taopex (₦83 million), and Trans-Amadi (OAU/FMPI) (₦20.74 million).

Meanwhile, the regulator reported that Ajaokuta Steel Co. Ltd and its host community failed to make any payments toward the ₦1.27 billion (NBET) and ₦0.11 billion (MO) invoices issued in Q4 2024.

“This continues a longstanding pattern of non-payment by this customer, and the commission has informed the relevant FGN authorities of the need for intervention,” the report stated.

Additionally, the Nigerian Electricity Regulatory Commission (NERC) disclosed that electricity distribution companies in Nigeria generated ₦509.84 billion in revenue in the last quarter of 2024, representing 77.44% of the ₦658.40 billion billed to customers during that period.