Home News Niger, Benin, Togo‎ Remits N2.04bn Electricity Tariff to Nigeria
News

Niger, Benin, Togo‎ Remits N2.04bn Electricity Tariff to Nigeria

Share
Niger, Benin, Togo‎ Remits N2.04bn Electricity Tariff to Nigeria | Daily Report Nigeria
Share

The West African trio of ‎Niger, Benin, Togo‎ has remitted a combined sum of N2.04bn as outstanding electricity bill purchased from Nigeria in the first quarter of 2020.‎

This was disclosed by the Nigerian Electricity Regulatory Commission as part of it’s report for the first quarter of 2020.

‘You Can’t Stop Vote Counting, Biden Campaign Team Tells Trump

According to NERC, an invoice total of N4.05bn ($13.22m) were issued by the Market Operator to international customers which include Societe Nigerienne d’electricite (Niger), Societe Beninoise d’Energie Electrique (Benin) and Compagnie Energie Electrique du Togo (Togo).‎

The reported stated that Niger made a payment of ₦1.61bn ($5.27m), while Benin paid ₦0.43bn ($1.39m) as part of outstanding bills for the energy received from NBET and services rendered by the MO.

According to NERC, tariff shortfall (represented by the difference between actual end-user tariffs payable by consumers and the cost-reflective rates approved by NERC) had partly contributed to liquidity challenges being experienced in the industry.

It also noted that the settlement ratio to the expected Minimum Remittance Thresholds, having adjusted for tariff shortfall, shows that power distribution companies needed to improve on their performance.

Share
Written by
Tare Magbei -

With more than five years of covering different topics, Tare Magbei is a versatile journalist.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Saudi Arabia suspends visa for Nigeria, Egypt, 12 other countries | Daily Report Nigeria
News

Saudi Arabia suspends visa for Nigeria, Egypt, 12 other countries

Saudi Arabia has announced a temporary suspension on issuing new short-term visas...

BREAKING: Protesters Storm Streets In Abuja, Lagos | Daily Report Nigeria
News

BREAKING: Protesters Storm Streets In Abuja, Lagos

A planned protest by the “Take it Back Movement” coincided with National...

Plateau Killings: ACF Demands State of Security | Daily Report Nigeria
News

Plateau Killings: ACF Demands State of Security

The Arewa Consultative Forum (ACF) has demanded a state of security emergency...

Police Warn Against Take It Back Movement's April 7 Nationwide Protest
News

Police Warn Against Take It Back Movement’s April 7 Nationwide Protest

The Nigeria Police Force has warned the Take it Back Movement to...