By Ifeoluwa Odunayo
Benin Republic and Togo have accumulated a debt of $8.84 million for electricity supplied by Nigeria in the last quarter of 2024, according to the Nigerian Electricity Regulatory Commission.
The latest market report from the commission revealed that six international customers paid only $5.21 million out of a total invoice of $14.05 million, reflecting a remittance rate of just 37 percent.
The report identified Paras-SBEE and Paras-CEET in Benin, as well as Transcorp-SBEE and Odukpani-CEET in Togo, as defaulters, while Mainstream-NIGELEC of Niger Republic was the only international customer to fully settle its $2.6 million bill.
On the domestic front, bilateral customers paid N1.25 million out of N1.98 million invoiced, achieving a remittance rate of 63 percent.
However, Ajaokuta Steel and its host community failed to pay their outstanding N1.38 billion.
Meanwhile, electricity distribution companies collected N509.84 billion out of N658.40 billion billed in the same period, recording a collection efficiency of 77 percent, an improvement from the previous quarter.
