The Nigerian Electricity Regulatory Commission (NERC) has disclosed that Benin, Niger, and Togo owe Nigeria N9.41 billion ($5.79 million) for electricity supplied in Q2/24. This is an improvement from Q1, where no payments were made. The report details progress in settling past debts but underscores the need for consistent payment compliance by international customers.
The Nigerian Electricity Regulatory Commission (NERC) has reported that the governments of Niger, Togo, and Benin owe Nigeria a total of N9.41 billion, equivalent to $5.79 million, for electricity supply during the second quarter of the year 2024. This finding was published in NERC’s latest quarterly report, which was made public over the weekend. According to established international agreements, Nigeria provides electricity to its neighboring countries, specifically Benin Republic, Togo, and Niger. The outstanding debts are attributed to several companies, namely Paras-SBEE and Transcorp-SBEE from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo. The outstanding payments are notably an improvement from the previous quarter, where the same international customers reported an absence of payments for electricity. In the NERC’s report for the first quarter of 2024, it was noted that no payments were made by these customers against an invoice of $14.19 million. Furthermore, the NERC disclosed that invoices amounting to $15.60 million were issued to the four firms in three countries during the second quarter, out of which $9.81 million was settled. Additionally, domestic bilateral customers failed to pay N695.4 million out of N1.99 billion during the same period. In summary, for the second quarter of 2024, the four international bilateral customers managed to remit a total payment of $9.81 million against the invoiced amount of $15.60 million, while domestic customers paid a total of ₦1,295.90 million against a cumulative invoice of ₦1,991.30 million.
This article addresses the financial obligations of neighboring countries to Nigeria concerning electricity supply, as outlined by the Nigerian Electricity Regulatory Commission. It highlights the ongoing issue of unpaid bills by these international customers, and contrasts the latest findings with previous quarters to demonstrate progress. This situation is critical as it reflects both economic interdependence and challenges in the energy sector in West Africa, where Nigeria plays a significant role in electricity supply.
In conclusion, the report from the NERC indicates that there has been a marked improvement in payments for electricity supplied by Nigeria to Niger, Togo, and Benin compared to the previous quarter. Although outstanding debts remain significant, the shift from zero payments to over N9.41 billion demonstrates a positive trend in the financial interactions between Nigeria and its neighboring countries in the energy sector. The ongoing situation necessitates continued monitoring and efforts to enhance payment compliance by international customers.
Original Source: www.ripplesnigeria.com
