Despite Nigeria’s ongoing electricity supply challenges, three West African countries—Benin, Togo, and Niger—failed to fully settle payments for power supplied in the fourth quarter of 2025, accumulating a combined debt of $9.55 million, equivalent to N13.07 billion.
This was revealed in the fourth quarter 2025 report released by the Nigerian Electricity Regulatory Commission (NERC).
According to the report, Nigeria’s market operator issued invoices totaling $20.44 million to international bilateral customers across the three countries during the period. However, only $10.89 million was remitted, representing a payment performance of 53.28 percent.
“The three international bilateral customers being supplied by GenCos in the Nigerian electricity supply industry made a payment of $10.89 m against the cumulative invoice of $20.44 m issued by the MO for services rendered in 2025/Q4, translating to a remittance performance of 53.28 percent,” the report stated.
This indicates that for every $100 billed, just $53.28 was paid, leaving an outstanding balance of $46.72—equivalent to the $9.55 million deficit.
A breakdown of payments showed mixed performance among the companies involved. Paras-SBEE in Benin paid $1.67 million out of its $2.45 million invoice (68.16 per cent), while Paras-CEET in Togo settled $1.46 million from a $2.18 million bill (64.97 per cent).
Transcorp-SBEE (Ughelli) in Benin recorded one of the lowest remittances, paying only $0.46 million out of $3.74 million, representing 12.30 percent. In contrast, Transcorp-SBEE (Afam 3), also in Benin, showed stronger compliance by remitting $3.21 million of its $3.90 million invoice (82.31 percent).
In Niger, Mainstream-NIGELEC paid $4.09 million out of the $5.96 million billed (68.63 per cent), while Odukpani-CEET in Togo made no payment on its $2.18 million invoice, recording a zero per cent remittance.
The report noted that the figures were based on reconciled market settlements submitted to the commission as of April 2, 2026.
“The three international bilateral customers being supplied by GenCos in the Nigerian electricity supply industry made a payment of $10.89m against the cumulative invoice of $20.44m issued by the MO for services rendered in 2025/Q4, translating to a remittance performance of 53.28 per cent”, NERC report stated.
The disclosure underscores Nigeria’s ongoing difficulty in recovering payments for electricity exports to neighboring countries, even as domestic power supply remains inadequate.
The unpaid $9.55 million for a single quarter highlights a growing revenue concern for the country’s power generation companies.