Three West African nations namely the Republic of Niger, Benin and Togo owe the Federal Republic of Nigeria US$16.11 million for electricity supplied to them in the first quarter (Q1) of 2023.
This is contained in the first quarter of 2023 report by Nigerian Electricity Regulatory Commission (NERC) published on its website.
The report shows the value of electricity sold to four firms namely Paras-SBEE and Transcorp-SBEE, both from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
The Commission said Paras-SBEE owed $3.46 million, Transcorp-SBEE owed $3.85 million, Mainstream-NIGELEC owed $5.48 million, and Odukpani-CEET will pay $3.32 million.
It said the non-remittance by international and bilateral customers continues a trend that should prompt it to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by the various market participants.
The report reads: “None of the under-listed international customers made any payment against the cumulative $16.11 million invoice issued to them in Q1 2023; Paras-SBEE ($3.46 million), Transcorp-SBEE ($3.85 million), Mainstream-NIGELEC ($5.48 million) and Odukpani-CEET ($3.32 million).
“The market operations (MO) issued invoices to all the eight bilateral customers in the NESI in 2023/Q1 which amounted to N842.38 million. During the quarter, only North-South/Star Pipe made a remittance of ₦15.38 million against an invoice of N24.69 million issued to them.
“This means that for the period, the cumulative remittance performance of bilateral customers was 1.83 per cent.”
Source: https://energynewsafrica.com
