The Nigerian Electricity Regulatory Commission (NERC) has reported that international bilateral customers sourcing electricity from the country – Togo and Benin – paid only $5.21 million, representing 37.08% of the $14.05 million invoice issued to them by the Market Operator (MO) for power supply to them in Q4 2024
The commission, in its just published Q4, 2024 report on the electricity industry reflecting the remittances made by bilateral customers (domestic and international) and special customers for invoices issued in 2024/Q4, disclosed that the domestic bilateral customers paid N1,252.58 million out of the N1,977.02 million invoice issued to them by the MO for services rendered during the quarter under review.
According to the report, the international companies and their debt payment obligations comprised Paras-SBEE in the Benin Republic ($2.65 million); Paras-CEET also in Benin ($1.64 million); Transcorp-SBEE (Ughelli) in Benin, which paid $1.71 million out of $3.59 million; Transcorp-SBEE (Afam 3), which also offset $0.90 million out of its $1.2 million debt; and Odukpani-CEET in Togo, which owed $2.37 million as of the end of the quarter,.
The report, however, showed that only Mainstream-NIGELEC fully paid the entire $2.60 million invoice issued to it by the market operator for services during the quarter.
The NERC further reported that the domestic bilateral customers made a cumulative payment of N1.25 million against the invoice of N1.98 million issued to them by the MO for services rendered to them in Q4 2024, indicating 63.36% remittance performance.
It clarified: “It is noteworthy that some bilateral customers (both domestic and international customers) made payments during 2024/Q4 for outstanding MO invoices from previous quarters. Paras-CEET, Pars-SBEE and Transcorp-SBEE made payments of $0.98m, $0.7m, and $1.3m, respectively, towards outstanding invoices from previous quarters.
“Similarly, the MO received N135.81 million from the domestic bilateral customers CNDPHC-Weewood: N21.17 million; North South/Star Pipe: N11 million; Taopex: N83 million; and Trans-Amadi (OAU/FMPI): N20.74 million) towards outstanding invoices from previous quarters”, the commission added.
The industry regulator reports that the special customer, Ajaokuta Steel Co. Ltd., and the host community did not make any payment towards the N1.27 billion (NBET) and N0.11bn (MO) invoices issued for services rendered to them in the quarter under review.
In addition, the NERC also disclosed that electricity distribution companies (DisCos) in the country generated N509.84 billion in Q4 2024, representing 77.44% of the N658.40 billion customers’ bill in the quarter.
It stated that the 77.44% collection in Q4 2024 was +2.89 percentage points higher than the collection efficiency recorded in the preceding quarter.
