This headline concisely summarizes the main point of the article, highlighting the key finding from the NERC report.
The Federal Government of Nigeria has revealed that the countries of Togo and Benin Republic owe a total of $14.19 million in unpaid electricity bills for the first quarter of 2024.
This information was made public in a report by the Nigerian Electricity Regulatory Commission (NERC), which highlighted the non-payment of electricity bills by four international bilateral customers who receive electricity supply from Nigerian power generating companies (GenCos).
The report identified the debtors as Para-SBEE in Benin Republic, owing $3.15 million, Transcorp-SBEE in Benin Republic, owing $4.46 million, Mainstream-NIGELEC in Togo, owing $1.21 million, and Odukpani-CEET in Togo, owing $5.36 million.
According to NERC, none of these companies made any payments towards the cumulative invoices issued by the Market Operator for services rendered during the quarter in question, resulting in the significant outstanding debt.