Benin Republic and Togo owe Nigeria $8.84 million for electricity in Q4 2024. The report from NERC indicates low payment rates among international customers, with only Mainstream-NIGELEC fully settling its invoice. Nigerian electricity distributors achieved a collection efficiency of 77.44% in the same quarter, a notable increase from Q3 2024.
The Benin Republic and Togo are indebted to Nigeria for $8.84 million due to electricity consumed in the fourth quarter of 2024, as reported by The PUNCH. This information was provided by the Nigerian Electricity Regulatory Commission (NERC), which detailed the payments made by both domestic and international customers as well as special customers for services rendered in the specified quarter.
In summary, the financial obligations of Benin and Togo highlight the ongoing challenges in electricity payments among bilateral customers. The NERC’s report underscores the low remittance rates from international customers, while also illustrating an increase in revenue collection efficiency by Nigerian electricity distribution companies. The situation with Ajaokuta Steel Co. Ltd’s consistent non-payment necessitates further intervention from the Nigerian government.
Original Source: punchng.com