Benin, Togo, Niger owe Nigeria N17.45bn electricity debt from Q1 2026

Electricity customers in Togo, Benin Republic and Niger Republic owed Nigeria about N17.45bn for power supplied in the first quarter of 2026. They remitted only 27.57 per cent of the $17.48m billed to them during the period, according to the latest Nigerian Electricity Regulatory Commission (NERC) report.

The three international bilateral customers collectively paid $4.82m out of the $17.48m invoiced by the Market Operator. This left an outstanding debt of $12.66m, equivalent to about N17.45bn at an exchange rate of N1,378 to the dollar.

Poor remittance performance across the board

The debt is a recurring problem every quarter, adding to the liquidity crisis in Nigeria's power sector. International customers performed far worse than domestic bilateral customers, who remitted 95 per cent of their invoices in the same period.

NERC stated: “The three international bilateral customers being supplied by GenCos in the NESI made a payment of $4.82m against the cumulative invoice of $17.48m issued by the Market Operator for services rendered in 2026/Q1, translating to a remittance performance of 27.57 per cent.”

Paras-SBEE, which supplies electricity to Benin Republic, made no payment against its $1.94m invoice. Paras-CEET, supplying Togo, also paid nothing on its $1.67m invoice. Odukpani-CEET, another supplier to Togo, recorded a zero per cent remittance on its $2.29m invoice.

Transcorp-SBEE (Ughelli), a supplier to Benin Republic, paid only $0.90m out of its $4.20m invoice, a 21.43 per cent performance. Transcorp-SBEE (Afam 3) paid $1.13m against a $2.90m invoice, a 38.97 per cent performance.

Mainstream-NIGELEC, which exports to Niger Republic, was the best performer. It remitted $2.79m out of its $4.45m invoice, a 62.70 per cent payment rate.

Some payments made on old debts

Despite poor current payments, some international customers made payments toward older debts. NERC disclosed that in Q1 2026, three international and nine domestic bilateral customers paid $6.64m and N2.59bn respectively towards outstanding Market Operator invoices from previous quarters.

Specifically, the Market Operator received $4.05m from Société Béninoise d'Energie Electrique, covering payments for Ughelli ($3.28m) and Paras ($0.77m). Another $1.87m came from Mainstream-Société Nigérienne d'Électricité (NIGELEC), and $0.72m from Paras-Compagnie Energie Electrique du Togo (CEET).

Domestic customers perform better, Ajaokuta still defaults

Domestic bilateral customers paid N5.82bn out of the N6.12bn invoiced, a 95 per cent remittance rate. NERC said: “The domestic bilateral customers made a cumulative payment of N5.82bn against the invoice of N6.12bn issued to them by the MO for services rendered in 2026/Q1, translating to a 95.00 per cent remittance performance.”

Ajaokuta Steel Company Limited and its host community continued their long-standing failure to pay. The commission said the special customer made no payment against the N676.88m invoice from the Nigerian Bulk Electricity Trading Plc and the N189.38m invoice from the Market Operator during the quarter.

The persistent failure of international customers to pay for electricity adds pressure on the naira and worsens the liquidity crisis in Nigeria's power sector. With domestic consumers and businesses already struggling under high tariffs and poor supply, the continued accumulation of debt by neighbouring countries raises questions about the sustainability of these bilateral power agreements.