Nigeria’s struggle to maximise revenue from electricity exports has been highlighted once again, as three neighbouring countries—Benin, Togo, and Niger—failed to fully settle payments for power supplied during the fourth quarter of 2025.
According to a report released by the Nigerian Electricity Regulatory Commission (NERC), the three countries accumulated a combined debt of $9.55 million, equivalent to about N13.07 billion.
The report revealed that Nigeria’s market operator issued invoices totaling $20.44 million to international bilateral customers within the period. However, only $10.89 million was eventually remitted, translating to a payment performance of just 53.28 percent.
“The three international bilateral customers being supplied by GenCos in the Nigerian electricity supply industry made a payment of $10.89 m against the cumulative invoice of $20.44 m issued by the MO for services rendered in 2025/Q4, translating to a remittance performance of 53.28 percent,” the report stated.
In practical terms, this means that for every $100 billed, only $53.28 was paid, leaving a significant outstanding balance of $46.72—amounting to the $9.55 million deficit recorded for the quarter.
A closer look at the breakdown shows uneven payment behaviour among the companies involved. Paras-SBEE in Benin paid $1.67 million out of its $2.45 million invoice, while Paras-CEET in Togo settled $1.46 million from a $2.18 million bill.
However, Transcorp-SBEE (Ughelli) in Benin recorded one of the weakest performances, remitting just $0.46 million out of $3.74 million. In contrast, Transcorp-SBEE (Afam 3), also based in Benin, demonstrated stronger compliance by paying $3.21 million from a $3.90 million invoice.
In Niger, Mainstream-NIGELEC remitted $4.09 million out of the $5.96 million billed, while Odukpani-CEET in Togo made no payment at all on its $2.18 million invoice.
The commission noted that the data reflects reconciled market settlements submitted as of April 2, 2026.
“The three international bilateral customers being supplied by GenCos in the Nigerian electricity supply industry made a payment of $10.89m against the cumulative invoice of $20.44m issued by the MO for services rendered in 2025/Q4, translating to a remittance performance of 53.28 per cent”, NERC report stated.
This development underscores a persistent challenge within Nigeria’s power sector, recovering payments for exported electricity despite ongoing struggles to meet domestic energy demands.
The outstanding $9.55 million for just one quarter further raises concerns about revenue losses facing power generation companies and the broader sustainability of cross-border electricity supply arrangements.
