The report showed that the Market Operator invoiced a total of $18.69 million for electricity provided over the review period to the three countries, but only remitted $7.125 million, leaving an outstanding balance of $11.56 million.
Furthermore, international bilateral clients had legacy invoices totaling $14.7 million, of which they paid $7.84 million, leaving a debt of $6.23 million.
As reported by the Punch Newspaper, the debt accumulated between the previous quarters and Q3 2025 was $17.8 million (N25.36 billion).
The regulator identified the international offtakers as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of the Republic of Benin, and Société Nigérienne d’Électricité of the Republic of Niger.
The regulatory body reported that the three foreign bilateral clients that bought electricity from the grid-connected GenCos paid a total of $7.125 million toward the $18.69 million invoice that the Market Operator sent them for services provided in 2025/Q3.
A majority of the invoices remained outstanding at the close of the quarter, per to the report, which revealed that the remittance level reflected a 38.09 percent remittance performance.
“The three international bilateral customers being supplied by GenCos in the NESI made a payment of $7.12m against the cumulative invoice of $18.69m issued by the MO for services rendered in 2025/Q3, translating to a remittance performance of 38.09 per cent,” the NERC stated.
“The domestic bilateral customers made a cumulative payment of N3.19bn against the invoice of N3.64bn issued to them by the MO for services rendered in 2025/Q3, translating to 87.61 per cent remittance performance,” it added.
The NERC went on to disclose that, from a total invoice of N400.48 billion, Nigeria’s 11 energy distribution companies sent a sum totaling N381.29 billion to the Nigerian Bulk Energy Trading Plc and the Market Operator in Q3 2025.
This reflects a remittance performance of 95.21%.
