International customers in Benin Republic and Togo owe Nigeria $5.79 million for electricity consumed during the second quarter of 2024, according to the Nigerian Electricity Regulatory Commission.
This debt comes from power supplied by Nigeria’s power generation companies.
Out of the total $15.60 million billed to these customers between April and June 2024, only $9.81 million was paid. The international customers involved are Para-SBEE and Transcorp-SBEE in Benin Republic, and Mainstream-NIGELEC and Odukpani-CEET in Togo.
According to NERC’s report, Para-SBEE paid 71.21% of its $4.29 million bill, while Transcorp-SBEE fully paid its $4.25 million bill. Mainstream-NIGELEC in Togo remitted 69.72% of its $3.59 million bill, but Odukpani-CEET in Togo did not make any payments.
In comparison, no payments were made by these customers in the first quarter of 2024, despite a total invoice of $14.19 million. However, some progress was made in the second quarter, as NERC noted that international customers have paid $16.65 million towards outstanding debts from previous quarters.
The report also showed that Nigerian domestic customers are behind in payments. Local customers paid N1.30 billion of the N1.99 billion invoiced in the second quarter of 2024, representing a 65.07% remittance rate. NERC highlighted the need for more efficient payments to ensure smooth electricity operations.
The total revenue collected by all electricity distribution companies (Discos) in the second quarter of 2024 was N431.16 billion out of the N543.64 billion billed, representing a collection efficiency of 79.31%, a slight improvement from the 79.11% recorded in the first quarter of 2024.
