In 2023, international customers from Niger, Benin, and Togo paid Nigeria a total of $50.36 million for electricity, achieving a 94.04% remittance rate. Domestic customers showed an 84.94% remittance performance on their invoices. The Nigerian government previously noted an outstanding debt of $51.26 million from international consumers, leading to the implementation of supply limitations.
A recent report from the Nigerian Electricity Regulatory Commission (NERC) reveals significant payment details regarding the provision of electricity to international customers from Niger, Benin, and Togo for the year 2023. Collectively, these three nations compensated the Nigerian Electricity Supply Industry (NESI) with a total of $50.36 million, which reflects 94.04% of their total invoiced amount. The detailed payment figures are as follows: – Total Invoice: $53.55 million – Total Payment: $50.36 million – Remittance Performance: 94.04% The paying entities include: – Societe Beninoise d’Energie Electrique (Benin Republic) – Compagnie Energie Electrique du Togo (Togo) – Societe Nigerienne d’Electricite (Niger) Furthermore, NERC’s data indicates that NESI services 19 active domestic bilateral customers. These domestic clients received an invoiced amount totaling N10,320.84 million but made actual payments amounting to N8,766.15 million, resulting in a remittance performance of 84.94%. Despite these efforts, a notable outstanding remittance of 15.06% remains. In the preceding year, the Nigerian government highlighted that its international electricity consumers owed approximately $51.26 million for exported electricity. In response to the payment shortfall, the government instructed system operators within the Nigerian power sector to limit electricity supplies to international customers to no more than 6% of the total available grid generation per hour.
The dynamics of electricity trade between Nigeria and its neighboring countries, specifically Niger, Benin, and Togo, reveal the intricacies of international power supply agreements. Notably, the Nigerian Electricity Regulatory Commission (NERC) oversees these transactions, ensuring proper invoicing and payment collection. In recent years, discrepancies have been noted regarding the payments owed by international customers, highlighting the necessity for stringent regulations to manage cross-border electricity trade. The Nigerian government has responded to these challenges by imposing a cap on electricity supplies to international customers.
In conclusion, the report by the Nigerian Electricity Regulatory Commission indicates a substantial remittance performance from Niger, Benin, and Togo for electricity supplied in 2023. While international customers exhibited commendable payment behavior, domestic customers continue to show a gap in full payment, necessitating further scrutiny and action. The government’s intervention to limit electricity supply to international customers reflects an ongoing effort to address historical payment issues and improve the overall efficiency of the Nigerian power supply industry.
Original Source: politicsnigeria.com