The report highlights that out of the 17.24 million invoiced to six international customers, only5.8 million was recovered, reflecting a remittance rate of just under 34%. Notably, Niger Republic’s NIGELEC was the only customer to pay its bill in full, settling a $3.03 million invoice.
Benin’s Société Béninoise d’Énergie Électrique (SBEE) and Togo’s Compagnie Energie Electrique du Togo (CEET) made minimal or no payments despite receiving steady power supply. For instance, Togo’s CEET, which received power through two bilateral deals with Odukpani and Paras Energy, made no payments during the quarter. Similarly, SBEE, with contracts via Transcorp and Paras, remitted only a portion of its dues.
The breakdown of payments is as follows:
- PARAS-CEET (Togo): Remitted 0.63 million out of 1.92 million.
- TRANSCORP-SBEE (Afam 3): Paid 0.3 million of a 1.73 million invoice.
- TRANSCORP-SBEE (Ughelli): Paid1.82 million against $4.97 million.
- ODUKPANI-CEET and PARAS-SBEE: Both made no payments.
NERC has expressed concern that these repeated payment failures threaten Nigeria’s electricity market and could force supply cuts if the situation does not improve. The Commission has previously indicated that it expects the Market Operator to invoke the provisions of the market rules to address payment indiscipline among bilateral customers.
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