By Peter Omopo
Nigeria is owed a total of 17.8 million dollars by Togo, Niger and the Republic of Benin for electricity supplied under bilateral power agreements, the Nigerian Electricity Regulatory Commission (NERC) has disclosed.
The commission revealed this in its Third Quarter 2025 report, noting that the outstanding amount is equivalent to about ₦25.36 billion, based on an exchange rate of ₦1,425 to the dollar.
According to NERC, the three countries—classified as international bilateral customers—were billed 18.69 million dollars by the Market Operator for electricity supplied during the third quarter of 2025 but paid only 7.125 million dollars, leaving an unpaid balance of 11.56 million dollars for the period.
The regulator explained that the international customers also carried legacy debts from previous quarters. Out of outstanding invoices totalling 14.7 million dollars, they remitted 7.84 million dollars, leaving 6.23 million dollars unpaid. When combined with the third-quarter shortfall, the total outstanding obligation stood at 17.8 million dollars.
The international offtakers were identified as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of Benin, and Société Nigérienne d’Électricité of Niger.
NERC said the electricity supplied to the three countries was generated by grid-connected Nigerian generation companies and delivered through cross-border bilateral agreements. It added that payment compliance during the quarter was weak.
“The three international bilateral customers being supplied by GenCos in the Nigerian Electricity Supply Industry made a payment of $7.12 million against a cumulative invoice of $18.69 million issued by the Market Operator for services rendered in 2025/Q3, translating to a remittance performance of 38.09 per cent,” the commission stated.
It noted that this level of remittance meant that more than half of the invoices issued to the international customers remained unpaid at the end of the quarter.
In contrast, NERC reported a stronger payment performance among domestic bilateral customers. During the same period, local customers paid ₦3.19 billion out of the ₦3.64 billion invoiced to them by the Market Operator, representing a remittance rate of 87.61 per cent.
“The domestic bilateral customers made a cumulative payment of ₦3.19 billion against the invoice of ₦3.64 billion issued to them by the Market Operator for services rendered in 2025/Q3, translating to 87.61 per cent remittance performance,” the report said.
The commission also noted that some customers settled portions of outstanding obligations from previous quarters during the review period.
“It is noteworthy that some bilateral customers also made payments for outstanding Market Operator invoices from earlier quarters. The Market Operator received $7.84 million from international bilateral customers and ₦1.3 billion from domestic bilateral customers,” NERC added.
Beyond bilateral transactions, NERC disclosed that Nigeria’s 11 electricity distribution companies collectively remitted ₦381.29 billion to the Nigerian Bulk Electricity Trading Plc and the Market Operator in the third quarter of 2025, out of a total invoice of ₦400.48 billion.
