New data shows that international electricity customers owe the Nigeria government over $51 million in power debt.
Nigeria exports electricity to various countries, including Niger, Togo, and the Republic of Benin and based on strategic agreements with neighbouring countries.
According to data from the Nigerian Electricity Regulatory Commission (NERC), international consumers failed to remit $16.11 million, $11.97 million, $11.16 million, and $12.02 million to Nigeria for the electricity exported to them in the first, second, third, and fourth quarters of 2023, respectively.
Punch also reports that bilateral power consumers did not remit about N7.61bn to the Nigerian power sector in 2023.
Bilateral power contracts in Nigeria are written agreements in which one party supplies power to the other in exchange for payment.
NERC introduced bilateral power purchase agreements (PPAs) to allow power companies to sell directly to distribution companies (DisCos).
NERC said bilateral consumers did not pay the Nigerian government N827 million, N2.03 million, N2.8 billion, and N1.95 billion for electricity sold to them in the first, second, third, and fourth quarters 2023.
NERC, in its reports, noted:
For bilateral customers, the power sector regulator said:
In a related development, the Nigerian government has mandated power-generating companies to reduce electricity supply to neighbouring countries.
NERC gave the order following high indebtedness by the three countries.
The directives mandated system operators to limit power generation to Togo, Benin Republic, and Niger to six per cent pending payment of debts.
Source: TimesNow.com.ng
