Benin Republic and Togo have accumulated an electricity debt of $88.84 million to Nigeria for power consumed during the fourth quarter of 2024, according to the Nigerian Electricity Regulatory Commission (NERC).
This was revealed in NERC’s Q4 2024 report issued by the Market Operator. The report states that six international bilateral customers, supplied by Nigerian electricity generation companies (Gencos), collectively paid $5.21 million against a total invoice of $14.05 million issued by the Market Operator, reflecting a remittance rate of just 37.08 percent.
Among the international customers:
- Paras-SBEE (Benin Republic) paid $2.65 million.
- Paras-CEET (Benin Republic) paid $1.64 million.
- Transcorp-SBEE (Ughelli, Benin Republic) paid $1.71 million out of a $3.59 million invoice.
- Transcorp-SBEE (Afam 3, Benin Republic) paid $0.90 million out of a $1.2 million invoice.
- Odukpani-CEET (Togo) owes $2.37 million.
The only international customer that fully settled its invoice was Mainstream-NIGELEC, which cleared its $2.60 million bill.
On the domestic front, Nigerian bilateral customers made payments totaling ₦1.25 million against a total invoice of ₦1.98 million, resulting in a remittance performance of 63.36 percent for Q4 2024.
NERC also noted that some customers, both domestic and international, made partial payments toward outstanding debts from previous quarters. These include:
- Paras-CEET: $0.98 million
- Paras-SBEE: $0.7 million
- Transcorp-SBEE: $1.3 million
Similarly, domestic bilateral customers contributed ₦135.81 million toward past invoices, with notable payments from:
- NDPHC-Weewood: ₦21.17 million
- North South/Star Pipe: ₦11 million
- Taopex: ₦83 million
- Trans-Amadi (OAU/FMPI): ₦20.74 million
However, Ajaokuta Steel Co. Ltd. and its host community failed to make any payments toward their electricity bills of ₦1.27 billion (NBET) and ₦0.11 billion (MO) for Q4 2024.
In addition, NERC reported that electricity distribution companies (DisCos) in Nigeria generated ₦509.84 billion in revenue during the last quarter of 2024, representing 77.44 percent of the total ₦658.40 billion billed to customers. This marked an improvement of +2.89 percentage points compared to Q3 2024.
