Nigeria is owed a total of $17.8 million by Togo, Niger and Benin for electricity supplied to the three countries through bilateral power arrangements, according to the Nigerian Electricity Regulatory Commission (NERC).
The regulator disclosed this in its Third Quarter 2025 report, noting that the outstanding debt is equivalent to about N25.36 billion at an exchange rate of N1,425 to the dollar.
NERC said the three countries, classified as international bilateral customers, were billed $18.69 million by the Market Operator for electricity supplied during the third quarter of 2025 but paid only $7.125 million, leaving an unpaid balance of $11.56 million for the period.
In addition to the current invoices, the commission explained that the customers also carried legacy debts from previous quarters. Out of outstanding invoices amounting to $14.7 million, they remitted $7.84 million, leaving $6.23 million unpaid. When combined with the Q3 2025 shortfall, the total outstanding obligation stood at $17.8 million.
The international offtakers were identified as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of the Republic of Benin, and Société Nigérienne d’Électricité of the Republic of Niger.
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According to NERC, electricity supplied to the three countries was generated by grid-connected Nigerian generation companies and delivered under cross-border bilateral agreements. The commission said payments made during the quarter reflected weak compliance with invoice obligations.
“The three international bilateral customers being supplied by GenCos in the NESI made a payment of $7.12m against the cumulative invoice of $18.69m issued by the MO for services rendered in 2025/Q3, translating to a remittance performance of 38.09 per cent.”
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It added that the remittance level meant that more than half of the invoices issued to the international customers remained unpaid as of the end of the quarter.
In contrast, NERC reported stronger payment performance among domestic bilateral customers. During the same period, local customers paid N3.19 billion out of the N3.64 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 N3.19bn against the invoice of N3.64bn issued to them by the MO for services rendered in 2025/Q3, translating to 87.61 per cent remittance performance,” it added.
The commission also noted that some customers settled parts of their outstanding obligations from earlier quarters during the review period.
“It is noteworthy that some bilateral customers also made payments for outstanding MO invoices from previous quarters, as follows: the MO received $7.84m from the international bilateral customers and N1.3bn from the domestic bilateral customers,” the report added.
Beyond bilateral transactions, NERC disclosed that Nigeria’s 11 electricity distribution companies collectively remitted N381.29 billion to the Nigerian Bulk Electricity Trading Plc and the Market Operator in the third quarter of 2025. This was out of a total invoice of N400.48 billion, representing a remittance performance of 95.21 per cent.
The commission said the figures were derived from reconciled market settlement data submitted to it as of December 18, 2025, in line with its statutory responsibility to assess the commercial performance of the Nigerian Electricity Supply Industry.
