The Nigerian Government has revealed that Niger, Benin Republic and Togo are indebted to the country to the tune of $14.2 million in electricity bills debts in the First Quarter of 2024.
This was according to the Nigerian Electricity Regulatory Commission, NERC Q1 report 2024.
This is as NERC asked the Electricity Market Operator (MO) under the Transmission Company of Nigeria to activate the relevant market rules to ensure the recovery of $14.2 million owed to Nigeria by international customers in Q1, 2024.
The NERC is worried that the beneficiary countries being supplied electricity by Nigeria have failed to remit monies to the country. This was contained in the NERCs Q1, 2024 report.
The regulator in the report noted, “None of the four international bilateral customers being supplied by Generation Companies (Gencos) in the NESI made payment against the cumulative invoice of $14.19 million issued by the MO for services rendered in 2024/Q1.
“As indicated in previous reports, the commission expects the MO to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by local and international bilateral customers.”
Meanwhile, the report said two international customers paid a cumulative arrears of $5.96 million in debt owed Nigeria.
DAILY POST
