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Benin Republic and Togo owe Nigeria $88.84 million for electricity consumed in the fourth quarter of 2024.
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The debt was disclosed by the Nigerian Electricity Regulatory Commission in its 2024 quarter four report
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The report also showed that electricity distribution companies in Nigeria generated N509.84 billion in the last three months of 2024.
Benin Republic and Togo owe Nigeria a total of $88.84 million for electricity consumed in the fourth quarter of 2024.
This was disclosed by the Nigerian Electricity Regulatory Commission (NERC) in its 2024 quarter four report.
According to the report, the six international bilateral customers being supplied by Gencos in the Nigerian electricity supply industry made a payment of $5.21 million against the cumulative invoice of $14.05 million issued by the Market Operator for services rendered in 2024/Q4.
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This translates to a remittance performance of 37.08 percent.
The report also showed that electricity distribution companies in Nigeria generated N509.84 billion in the last three months of 2024.
READ ALSO: Togo, Benin, Niger Owe Nigeria $18.29m Electricity Bill For 2022 — NERC
This represents 77.44 percent of the N658.40 billion that was billed to customers within the fourth quarter of last year.
The NERC noted that the 77.44 percent collection efficiency recorded in 2024/Q4 is +2.89 pp higher than the collection efficiency recorded in 2024/Q3.
FG to Review Electricity Tariffs for Band B, C Customers Amid Disparities
The Federal Government has confirmed plans to regularise electricity tariffs, specifically targeting Band B and C customers.
The Minister of Power, Adebayo Adelabu, made this announcement while speaking at the ongoing public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan in Abuja.
