A report from the Nigerian Electricity Regulatory Commission has revealed that Benin, Togo, and Niger failed to settle $9.55 million in electricity debts to Nigeria during the fourth quarter of 2025, achieving a remittance performance of only 53.28 percent.
Despite Nigeria’s persistent domestic power supply challenges, three neighboring West African nations—Benin, Togo, and Niger—accumulated an outstanding debt of $9.55 million (approximately N13.07 billion) for electricity supplied in the fourth quarter of 2025. According to the latest report from the Nigerian Electricity Regulatory Commission (NERC), the market operator issued total invoices of $20.44 million to international bilateral customers, yet only $10.89 million was remitted. “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,” the commission stated, indicating that nearly half of the billed services remain unpaid.
The breakdown of the NERC report, reconciled as of April 2, 2026, highlights a stark disparity in payment compliance among various international entities. While Transcorp-SBEE (Afam 3) in Benin showed relatively strong compliance with an 82.31 percent remittance rate, other companies lagged significantly behind. Most notably, Odukpani-CEET in Togo recorded a zero percent remittance on its $2.18 million invoice, and Transcorp-SBEE (Ughelli) in Benin paid only 12.30 percent of its $3.74 million bill. In Niger, the primary customer Mainstream-NIGELEC settled $4.09 million of the $5.96 million it was billed, reflecting a performance rate of 68.63 percent.
This deficit in international remittances comes at a sensitive time for the Nigerian Electricity Supply Industry (NESI), which continues to grapple with liquidity issues and infrastructure gaps. For every $100 in power exported to these nations during the period, Nigeria only recovered $53.28, leaving the remaining $46.72 as a mounting deficit. Industry observers note that while these export agreements are intended to provide regional stability and revenue, the consistent failure of international customers to fully settle their invoices places further strain on Nigeria’s domestic GenCos and the broader market operator’s financial health.
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