The Nigerian Electricity Regulatory Commission (NERC) has disclosed that three neighbouring countries; Togo, Benin Republic and Niger are owing to Nigeria to the tune of $17.8 million (over N25 billion) for electricity supplied under bilateral power agreements.
The disclosure was contained in NERC’s Third Quarter 2025 report, which showed that the three countries were invoiced a total of $18.69 million by the Market Operator for electricity supplied during the period but paid only $7.125 million, leaving an outstanding balance of $11.56 million.
The report further revealed that the same international customers had earlier settled $7.84 million from previous outstanding invoices amounting to $14.07 million, leaving a balance of $6.23 million from earlier quarters.
As a result, the combined outstanding debt from prior periods and the third quarter of 2025 now stands at approximately $17.6 million.
NERC identified the indebted entities as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique in Benin, and Société Nigérienne d’Électricité of Niger.
The power supplied to the three countries was generated by Nigerian generation companies connected to the national grid and transmitted through cross-border bilateral arrangements.
According to the regulator, the international customers recorded a remittance performance of just 38.09 per cent in the third quarter of 2025, with more than half of the invoices remaining unpaid by the end of the period.
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“The three international bilateral customers supplied by GenCos within the Nigerian Electricity Supply Industry paid $7.12 million against a total invoice of $18.69 million issued by the Market Operator for services rendered in Q3 2025,” the report stated.
NERC also noted that some international and domestic bilateral customers made payments for electricity consumed in previous quarters.
“It is important to highlight that certain bilateral customers cleared outstanding invoices from earlier periods, with the Market Operator receiving $7.84 million from international customers and N1.3 billion from domestic customers,” the commission said.
In contrast, domestic bilateral customers recorded stronger payment performance, remitting N3.19 billion out of the N3.64 billion billed during the quarter, representing a remittance rate of 87.61 per cent.
“The domestic bilateral customers paid N3.19 billion against the N3.64 billion invoice issued for services rendered in Q3 2025, translating to a remittance performance of 87.61 per cent,” NERC added.
The commission also disclosed that Nigeria’s 11 electricity distribution companies paid a combined N381.29 billion to the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator during the quarter, out of a total invoice of N400.48 billion, resulting in a remittance level of 95.21 per cent.
NERC explained that the figures were obtained from reconciled market settlements submitted to the commission by December 18, 2025, as part of its routine assessment of the electricity market’s commercial performance.
Meanwhile, Nairametrics reported in December 2025 that the Federal Government had issued its first bond under the Presidential Power Sector Debt Reduction Programme, aimed at addressing longstanding liquidity challenges in the power sector.
The N590 billion Series 1 Power Sector Bond was issued by NBET Finance Company Plc, a special purpose vehicle of the Nigerian Bulk Electricity Trading Plc, and is fully backed by the Federal Government, according to the Office of the Special Adviser to the President on Energy.
