The Nigerian Electricity Regulatory Commission has disclosed that the Republic of Benin and Togo are indebted to Nigeria to the sum of $8.84m for electricity consumption during the fourth quarter of 2024.
This information was detailed in a report outlining the remittances made by bilateral customers (both domestic and international) and special customers for invoices issued by the Market Operator in 2024/Q4.
According to the report, the six international bilateral customers receiving electricity supply from Gencos within the Nigerian electricity supply industry “made a payment of $5.21m against the total invoice of $14.05m issued by the Market Operator for services rendered in 2024/Q4,” resulting in a remittance performance of 37.08 percent.
The international entities in question are Paras-SBEE in Benin Republic ($2.65m); Paras-CEET also in Benin ($1.64m); Transcorp-SBEE (Ughelli) in Benin, which paid $1.71m out of $3.59m; Transcorp-SBEE (Afam 3), which paid $0.90m out of its $1.2m invoice; and Odukpani-CEET in Togo, which owes $2.37m.
The report indicated that only Mainstream-NIGELEC fully settled its $2.60m invoice issued by the market operator.
NERC further stated that domestic bilateral customers made a total payment of N1.25m against an invoice of N1.98m issued to them by the market operator for services rendered in the final quarter of 2024, representing a remittance performance of 63.36 percent.
“It is noteworthy that certain bilateral customers (both domestic and international) made payments during 2024/Q4 towards outstanding Market Operator invoices from previous quarters. Paras-CEET, Paras-SBEE, and Transcorp-SBEE made payments of $0.98m, $0.7m, and $1.3m, respectively, towards outstanding invoices from prior quarters.
“Similarly, the Market Operator received N135.81m from domestic bilateral customers [NDPHC-Weewood: N21.17m; North South/Star Pipe: N11m; Taopex: N83m; and Trans-Amadi (OAU/FMPI): N20.74m] towards outstanding invoices from previous quarters.
The regulator reported that the special customer, Ajaokuta Steel Co. Ltd, and the host community did not make any payments towards the N1.27bn (NBET) and ₦0.11bn (Market Operator) invoices received in 2024/Q4.
“This continues a persistent pattern of non-payment by this customer, and the commission has communicated the necessity for intervention on this matter to the relevant Federal Government of Nigeria authorities.
NERC also stated in the document that electricity distribution companies in Nigeria generated N509.84bn during the last three months of 2024. It indicated that this figure represents 77.44 percent of the N658.40bn that was billed to customers within the fourth quarter of the preceding year.
“The total revenue collected by all Discos in 2024/Q4 was N509.84bn out of the N658.40bn billed to customers. This translates to a collection efficiency of 77.44 percent. In comparison, the total revenue collected by all Discos in 2024/Q3 was N466.69bn out of the N626.02bn billed to customers, resulting in a 74.55 percent collection efficiency.
“The 77.44 percent collection efficiency recorded in 2024/Q4 is +2.89 percentage points higher than the collection efficiency recorded in 2024/Q3,” NERC stated.
