Togo, Niger, and Benin owe Nigeria a combined $17.8 million, equivalent to more than ₦25.36 billion at current exchange rates, the Nigerian Electricity Regulatory Commission (NERC) has disclosed.
In its Third Quarter 2025 report, the regulator revealed that the three neighbouring countries were invoiced $18.69m for electricity supplied during the period.
However, they remitted only $7.125m, leaving an unpaid balance of $11.56m.
According to the report, the international bilateral customers also had outstanding legacy invoices totalling $14.7m. Of this, they paid $7.84m, leaving $6.23m unpaid.
The combined debt from previous quarters and Q3 2025 amounts to $17.8m, which translates to about ₦25.36bn using an exchange rate of ₦1,425 to $1.
NERC identified the three international offtakers as:
- Compagnie Énergie Électrique du Togo (Togo),
- Société Béninoise d’Énergie Électrique (Benin),
- Société Nigérienne d’Électricité (Niger).
The regulator noted that payments from the three neighbouring customers represented a 38.09 per cent remittance performance for Q3 2025.
NERC Reports 38% Payment from Neighboring Countries on $18.69M Electricity Bills
The Nigerian Electricity Regulatory Commission (NERC) disclosed that three international customers.
Togo, Niger, and Benin, paid only $7.12 million against a $18.69 million invoice issued by the Market Operator for Q3 2025 services.
This represents a remittance performance of just 38.09 percent from generators (GenCos) in the Nigerian Electricity Supply Industry (NESI).
NERC’s statement highlights significant outstanding debts totaling over $17.8 million.
Prompting Nigeria’s determination to retrieve these funds through diplomatic and regulatory channels.
The low payment rate underscores challenges in cross-border energy trade within the West African Power Pool.
The electricity supplied to the trio of West African states was generated by grid‑connected Nigerian generation companies and delivered through bilateral cross‑border power arrangements.
In contrast, domestic bilateral customers fared significantly better.
Remitting ₦3.19bn out of the ₦3.64bn invoiced to them for Q3 2025, representing an 87.61 per cent remittance performance.
“The domestic bilateral customers made a cumulative payment of ₦3.19bn against the invoice of ₦3.64bn issued to them by the Market Operator for services rendered in 2025/Q3.
Translating to 87.61 per cent remittance performance,” the commission said.
NERC also noted that some bilateral customers paid for electricity purchased in previous quarters, contributing to improved cash flows.
The Market Operator received $7.84m from international customers and ₦1.3bn from domestic counterparts in back payments, the report added.
The commission further disclosed that Nigeria’s 11 electricity distribution companies (DisCos) remitted a total of ₦381.29bn to the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator in Q3 2025.
NERC Reports 95.21% Remittance on ₦400.48 Billion Invoices
The Nigerian Electricity Regulatory Commission (NERC) announced that market participants achieved a strong remittance performance of 95.21 percent against combined invoices totaling ₦400.48 billion.
The figures demonstrate robust payment recovery from generation companies (GenCos), distribution companies (DisCos), and trading licensees.
Such performance ensures steady cash flow to sustain grid operations and infrastructure investments.
This positive trend contrasts sharply with international bilateral customers’ lagging payments, highlighting domestic market efficiency amid regional energy trade challenges.
NERC Q3 2025 Electricity Market Report Basis
This compilation fulfills NERC’s statutory mandate to assess the Nigerian Electricity Supply Industry’s commercial performance quarterly.
Detailed reconciliations from generation companies, distribution firms, and trading licensees underpin the data.
NERC verifies invoices against actual remittances, ensuring accuracy in performance metrics like the reported 95.21% domestic compliance rate.
This rigorous process supports market transparency and regulatory oversight, guiding policy decisions for grid stability and revenue recovery.
