- International customers in Benin, Togo, and Niger failed to remit nearly half of their electricity bills for the fourth quarter of 2025, paying only $10.89 million out of a $20.44 million invoice.
- While some utilities made partial payments, Odukpani-CEET in Togo recorded a 0% remittance performance, making no payment toward its $2.18 million bill for the period.
- Local Nigerian bilateral customers showed significantly better discipline, remitting 84.23% of their invoices compared to the 53.28% average from neighboring countries.
A new report from the Nigerian Electricity Regulatory Commission (NERC) has revealed a significant revenue leakage in Nigeria’s power sector, with three neighboring countries defaulting on $9.55 million in electricity debts.
Eko Hot Blog reports that the data, covering the fourth quarter of 2025, shows that Benin, Togo, and Niger are struggling to meet their financial obligations for power supplied by Nigerian Generation Companies (GenCos).
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According to the NERC Quarterly Report, the Market Operator (MO) issued invoices totaling $20.44 million to international bilateral customers.
However, only 53.28% of that amount was recovered. This shortfall means that for every $100 worth of electricity Nigeria exported to these nations, approximately $46.72 went unpaid during the three-month window.
Breakdown of the Debtors
The report highlights a varied performance among the power utilities involved. In the Republic of Benin, Société Béninoise d’Energie Electrique (SBEE) showed a mixed record; one of its accounts through Transcorp (Afam 3) paid over 82% of its bill, while another through Transcorp (Ughelli) paid a meager 12.30%, remitting only $0.46 million against a $3.74 million invoice.
Niger’s Société Nigerienne d’Electricite (NIGELEC) was the largest single debtor by volume, being invoiced $5.96 million. Although it paid $4.09 million, it still left a balance of nearly $2 million.
The most striking failure came from Togo’s Odukpani-CEET, which remitted nothing at all against its $2.18 million invoice.
The NERC disclosure draws a sharp contrast between international and domestic payment behaviors.
While international neighbors defaulted on nearly half their bills, domestic bilateral customers within Nigeria remitted ₦3.5 billion out of ₦4.17 billion invoiced, representing a much healthier 84.23% performance.
However, the domestic sector is not without its “special” cases. The Ajaokuta Steel Company, a major domestic consumer, was invoiced ₦1.26 billion during the same period but made no payment, continuing its trend of non-remittance.
Implications for Nigeria’s Grid
This persistent debt is a growing concern for the Nigerian electricity supply industry, especially as the country continues to grapple with its own internal power shortages and grid instability.
Exporting electricity to neighbors is a strategic diplomatic and economic move, but the $9.55 million shortfall in just one quarter places a heavy financial burden on GenCos that are already struggling with liquidity.
As of April 2, 2026, when the market settlements were reconciled, the $9.55 million remained a significant hole in the sector’s finances.
With regional tensions and economic pressures mounting across West Africa, the ability of these nations to clear their outstanding invoices remains a critical question for Nigeria’s energy future.
