Debt Strain: Togo, Benin, and Others Owe Nigeria $14.19m for Q1 Power Supply.
The Nigerian Electricity Regulatory Commission (NERC) reported that Nigeria’s power sector is burdened by a $14.19 million debt from international customers, including PARAS-SBEE, Transcorp-SBEE, Mainstream-NIGELEC, and Odukpani-CEET, for electricity exported in Q1 2024. Additionally, Ajaokuta Steel Co. Ltd and its host community did not pay ₦1.36 billion owed for local electricity consumption.
Domestic bilateral customers also failed to pay a cumulative invoice of ₦1.86 billion. The total revenue collected by all Distribution Companies (DisCos) was ₦291.62 billion out of ₦368.65 billion billed, with an overall billing efficiency of 80.45%.
The aggregate technical, commercial, and collection (ATC&C) loss was 36.36%, higher than the allowed target of 27.50%, negatively impacting DisCos’ profitability. Some DisCos, like Ikeja, performed well, while others, like Kaduna and Kano, struggled with high ATC&C losses. The NERC is working with DisCos to improve revenue assurance and reduce losses.
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