Nigeria is yet to receive approximately N17.45 billion for electricity exported to Togo, Benin Republic and the Niger Republic during the first quarter of 2026, according to the latest report released by the Nigerian Electricity Regulatory Commission (NERC).
The report revealed that the three neighbouring countries collectively paid only $4.82 million out of the $17.48 million billed for electricity supplied during the period, leaving an outstanding balance of $12.66 million, which is equivalent to about N17.45 billion based on the prevailing exchange rate.
The figures highlight the persistent challenge of unpaid electricity export bills, a problem that continues to affect liquidity within Nigeria’s power sector despite ongoing bilateral electricity supply agreements with neighbouring West African countries.
According to NERC, the international customers recorded a remittance performance of just 27.57 percent, significantly lower than that of domestic bilateral customers, who settled 95 percent of their invoices during the same period.
A breakdown of the report shows that Paras-SBEE, which supplies electricity to the Benin Republic, failed to make any payment against its invoice of $1.94 million, recording a zero percent payment performance.
Similarly, Paras-CEET, responsible for electricity exports to Togo, also made no payment against its $1.67 million invoice for electricity supplied during the quarter.
Another supplier to Benin Republic, Transcorp-SBEE (Ughelli), remitted $900,000 out of an invoice of $4.20 million, representing a payment performance of 21.43 percent. Likewise, Transcorp-SBEE (Afam 3) paid $1.13 million from a total invoice of $2.90 million, translating to a remittance rate of 38.97 percent.
Among the international customers, Mainstream-NIGELEC, which supplies electricity to the Niger Republic, recorded the highest payment performance by remitting $2.79 million out of its $4.45 million invoice, representing 62.70 percent of the amount billed.
However, Odukpani-CEET, another electricity supplier to Togo, failed to make any payment against its $2.29 million invoice, maintaining a zero percent remittance record for the review period.
Despite the poor payment performance on current invoices, NERC disclosed that some international customers made partial payments toward outstanding debts accumulated from previous quarters.
According to the Commission, three international customers collectively paid $6.64 million to settle earlier obligations. Of that amount, Société Béninoise d’Énergie Électrique (SBEE) paid $4.05 million, covering outstanding debts linked to both the Ughelli and Paras electricity supply agreements.
The report also indicated that Mainstream-Société Nigérienne d’Électricité (NIGELEC) remitted $1.87 million toward previous invoices, while Paras-Compagnie Énergie Électrique du Togo (CEET) paid $720,000 as part of its outstanding obligations.
In contrast to the international customers, domestic bilateral electricity users demonstrated significantly stronger payment discipline. NERC reported that domestic customers paid N5.82 billion out of the N6.12 billion invoiced during the first quarter of 2026, achieving a remittance performance of 95 percent.
The report also highlighted the continued non-payment of electricity bills by Ajaokuta Steel Company Limited and its host community.
According to the Commission, the company failed to make any payment against an invoice of N676.88 million issued by the Nigerian Bulk Electricity Trading Plc (NBET), as well as an additional N189.38 million billed by the Market Operator during the review period.
The recurring debts from international electricity customers continue to pose a significant challenge to Nigeria’s power sector, which has long struggled with liquidity constraints, inadequate infrastructure funding and delayed payments across the electricity value chain.
As Nigeria continues to export electricity under bilateral agreements to neighbouring countries, industry stakeholders are expected to closely monitor payment compliance and explore measures that will improve revenue recovery and strengthen the financial sustainability of the country’s electricity market.
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