The Nigerian Electricity Regulatory Commission (NERC) says international customers owe $5.79 million for electricity supply in the second quarter (Q2) of 2024.
The debt amounts to N9.41 billion when converted using the official exchange rate of N1626.32/$ as of October 10.
In its latest quarterly report, the agency said market operators (MO) issued an invoice of $15.60 million to four firms in three countries.
Out of the aforementioned value, the electricity regulator said only $9.81 million was paid.
The firms are Paras-SBEE and Transcorp-SBEE both from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
Under an international treaty, Nigeria sells electricity to neighbouring countries like Benin Republic, Togo, and Niger.
The electricity regulator also said domestic bilateral consumers failed to remit N695.4 million out of N1.99 billion in the same quarter.
“In 2024/Q2, the four (4) international bilateral customers serviced by the MO made a cumulative payment of $9.81 million against the $15.60 million invoice issued to them by the MO for services rendered in 2024/Q2,” the report reads.
“Similarly, the domestic bilateral customers made a cumulative payment of ₦1,295.90 million against the cumulative invoice of ₦1,991.30 million issued to them by the MO for services rendered in 2024/Q2.”
The NERC said some bilateral customers (domestic and international customers) made payments in Q2 2024 for outstanding MO invoices from previous quarters.
“Cumulatively, the international bilateral customers paid a total of $16.65 million; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the commission added.
“Similarly, the MO received ₦1,309.97 million from the domestic bilateral customers towards outstanding invoices from previous quarters; Mainstream Energy Solutions has made payment towards all outstanding invoices from previous quarters.”
The regulator said under the special customers’ arrangement, Ajaokuta Steel Company Limited and the host community did not make any payment towards the N1.39 billion (NBET) and N0.11 billion (MO) invoices received in Q2 2024.
“This continues a longstanding trend of non-payment by this customer and the commission has communicated the need for intervention on this issue to the relevant FGN authorities,” the commission said.
The commission said the continuation of the non-payment could trigger total disconnection from the grid.
Credit: The Editorial
