The Nigerian Electricity Regulatory Commission (NERC) reported that Benin Republic and Togo accumulated an $8.84 million debt for electricity consumed in the fourth quarter of 2024.
According to the NERC’s Q4 2024 report, six international bilateral customers received electricity from Nigerian Gencos. These customers collectively paid $5.21 million out of the total $14.05 million billed, reflecting a remittance performance of 37.08 percent.
Among these international customers:
- Paras-SBEE (Benin) was billed $2.65 million.
- Paras-CEET (Benin) was billed $1.64 million.
- Transcorp-SBEE (Ughelli, Benin) paid $1.71 million out of $3.59 million.
- Transcorp-SBEE (Afam 3, Benin) paid $0.90 million out of $1.2 million.
- Odukpani-CEET (Togo) owes $2.37 million.
The report highlights that only Mainstream-NIGELEC settled its full $2.60 million invoice.
Domestically, bilateral customers paid ₦1.25 million out of ₦1.98 million invoiced, achieving a 63.36 percent remittance performance. NERC noted that some international and domestic customers also made payments for previous outstanding invoices, including:
- Paras-CEET ($0.98 million)
- Paras-SBEE ($0.7 million)
- Transcorp-SBEE ($1.3 million)
Additionally, domestic bilateral customers contributed ₦135.81 million toward past due invoices.
However, Ajaokuta Steel Co. Ltd. and its host community failed to pay any portion of their ₦1.27 billion (NBET) and ₦0.11 billion (MO) invoices for Q4 2024.
The NERC also disclosed that Nigerian electricity distribution companies generated ₦509.84 billion in Q4 2024, representing 77.44 percent of the ₦658.40 billion billed—a 2.89 percentage point improvement from Q3 2024.
