The Nigerian Electricity Regulatory Commission, NERC, has disclosed that Togo, Niger and the Benin Republic owe Nigeria $16.11 million for the electricity they consumed in the first quarter of 2023.
As contained in the current NERC’s quarterly report, the countries’ debt to Nigeria for the first quarter of 2023 and 2022 amounted to $67.01 million.
According to the report, a breakdown of the value of electricity exported to the three countries and four power firms revealed that the power utility firm in Niger Republic, NIGELEC, is owing $5.48 million.
For Benin Republic, SBEE owes $3.85 million, Paras -SBEE, $3.46 million; and Odukpani- Compagnie Energie Electriques du Togo, CEET, owed $3.32 million in the first quarter of 2023.
NERC stated that in the fourth quarter of 2022, NIGELEC received from the market operators, MO, invoice of $5.50 million; Transcorp SBEE, -$3.44 million; and Paras-SBEE, $3.03 million, and Odukpani-CEET, $2.02 million.
In Q2, 2023, according to the report, a total invoice of $11.05 million was received by the 3 international power firms from MO: Mainstream-NIGELEC, $5.67 million; Transcorp-SBEE,$1.85 million: and Odukpani-CEET, $1.71 million respectively, while remittances of $1.20 million, $5.55 million and $1.67 million respectively.
The report alleged that Paras-SBEE on the other hand failed to make any remittance against an invoice of $1.92 million that it was issued by MO.
“In Q2,22, Transcorp-SBEE and Mainstream-NIGELEC received invoices of $2.42 million and $5.56 million from MO and remitted $2.42 million and $5.55 million respectively. Paras-SBEE and Odukpani-CEET also received invoices of $2.39 million and $2.03 million respectively from the market operators during the period but made no payment.
“In Q1,22, Paras-SBEE, Transcorp-SBEE, and Mainstream-NIGERLEC received invoices of $2.72 million, $2.74 million, and $4.61 million, but remitted $2.72 million, $2.74 million, and $4.52 million respectively. Odukpani-CEET however failed to clear an invoice of $3.42 million issued by MO in that period.
“The payment indiscipline being exhibited by the various market participants, leading to dismay remittances has again come to the fore, even as Special and Cross-border Customers and electricity distribution companies (DisCos) have continued to frustrate the sustainability of the market,” it said.
The document added that, “under the special customers’ arrangement Ajaokuta Steel Co. Ltd and the host community did not make any payment towards the ₦0.38 billion (NBET) and ₦0.08 billion (MO) invoices received in 2023/Q1.
“As of March 2023, Ajaokuta Steel Company Limited had a total outstanding debt of ₦26,715,043,905.73 to NBET and ₦1,739,966,505.69 to the MO. NERC has communicated this longstanding debt to the Federal Government for interventions.”
