Benin and Togo owe Nigeria $8.84 million for electricity usage in Q4 2024. The NERC reported a remittance performance of only 37.08% from international bilateral customers, with collection issues also seen among domestic customers. Overall, Nigerian electricity distribution companies achieved a collection efficiency of 77.44% for the quarter, indicating improved financial performance compared to Q3 2024.
According to a report by The PUNCH, the Benin Republic and Togo owe Nigeria a significant debt of $8.84 million for electricity consumption during the fourth quarter of 2024. The Nigerian Electricity Regulatory Commission (NERC) provided insights regarding this situation in its report concerning remittances from both domestic and international bilateral customers, as well as special customers.
In summary, Benin and Togo’s outstanding electricity debt of $8.84 million to Nigeria illustrates a concerning trend of international customers’ payment challenges. Notably, only a fraction of the total cumulative invoices was settled, with a collection efficiency of 77.44% recorded among Nigerian distribution companies. Continued non-payment issues by specific customers also signify the need for intervention by Nigerian authorities to rectify the situation.
Original Source: punchng.com
