Foreign Clients Owe Nigeria $5.7 Million in Debt for Power

None of the four foreign bilateral clients that the power generation businesses provided in the first quarter paid the $14.19 million cumulative invoice that was issued.

Nigeria is owed $5.79 million by Benin Republic and Togo, two international bilateral electricity consumers, for the energy used in the second quarter of 2024.

This was disclosed in the most recent report for the second quarter of 2024 by the Nigerian Electricity Regulatory Commission.

Remitted by international customers: $9.81 million of the $15.60 million invoice issued by the market operator between April and June.

The foreign firms that are acquiring power from Nigeria are Odukpani-CEET ($3.47m), Mainstream-NIGELEC ($1.09m), Para-SBEE ($1.23m) in the Benin Republic, and Transcorp-SBEE ($1.23m) in Benin.

Mainstream-NIGELEC in Togo paid 69.72 percent of $3.59 million, but Odukpani-CEET did not send any money during the period. Para-SBEE in the Benin Republic remitted 71.21% of the $4.29 million billed, while Transcorp-SBEE in Benin remitted 100% of the $4.25 million it was billed.

None of the four foreign bilateral clients that the power generation businesses served in the first quarter paid the $14.19 million total invoice that the market operator had issued for the services provided.