A report by the Nigerian Electricity Regulatory Commission (NERC) has revealed that Nigeria’s bilateral electricity customers comprising companies in Benin Republic and Togo, owe the country a cumulative invoice of $14.19 million issued by the market operator for services rendered in the first quarter of 2024.
The foreign companies are Para-SBEE in Benin Republic ($3.15m), Transcorp-SBEE in Benin ($4.46m), Mainstream-NIGELEC in Togo ($1.21m), and Odukpani-CEET in Togo ($5.36m).
According to NERC, no remittances were made by bilateral customers within the country against the cumulative invoice of N1.86 million issued to them by the market operator for services rendered in Q1 2024.
It, however, noted that some bilateral customers (both local and international customers) made payments during the quarter for outstanding Market Operator invoices from previous quarters.
According to the report, a cumulative of $5.96 million was paid by two international customers, while the market operator received N505.71 million from eight local bilateral customers as payment towards debts that were incurred pre-2024/Q1.
The commission said it was expecting the market operator to invoke the provisions of the market rules to curtail what it called the payment indiscipline being exhibited by local and international bilateral customers.
In May, it was reported that international consumers failed to remit about $51.26m to Nigeria for electricity exported from Nigeria to power users in 2023.
