The Nigerian Electricity Regulatory Commission (NERC) has disclosed that electricity generation companies (GenCos) in Nigeria received a total of $7.12 million and N3.19 billion from bilateral customers in Q3 2025.
NERC disclosed this in its Q3 2025 report which also showed that while domestic bilateral customers maintained relatively strong payment performance, international bilateral customers continued to lag significantly, raising concerns about liquidity and market sustainability.
According to the commission, three international bilateral customers supplied by GenCos in Q3 2025 paid $7.12 million out of a cumulative invoice of $18.69 million issued by the MO, representing a 38.09 per cent remittance performance.
The report further showed that domestic bilateral customers remitted N3.19 billion against a total invoice of N3.64 billion, translating to 87.61 per cent remittance performance during the same period.
A breakdown of international payments shows that Transcorp–SBEE (Ughelli) remitted $1.42 million, while Mainstream–NIGELEC accounted for the bulk of payments with $5.7 million in Q3 2025.
NERC further noted that beyond current-quarter obligations, some bilateral customers made arrears payments for outstanding MO invoices from previous quarters.
“It is noteworthy that some bilateral customers also made payments for outstanding MO invoices from previous quarters, as follows: the MO received $7.84 million from the international bilateral customers and N1,299.66 million from the domestic bilateral customers,” NERC stated.
The report also noted that Ajaokuta Steel Company Limited and its host community failed to make any payment toward invoices issued in Q3 2025, owing N1.03 billion to the Nigerian Bulk Electricity Trading (NBET) Plc and N0.10 billion to the Market Operator.
“This continues a longstanding trend of non-payment by this customer, and the Commission has communicated the need for intervention on this issue to the relevant FGN authorities,” NERC report added.
