By Oke Peter
Benin and Togo have accumulated over $11 million in unpaid electricity bills to Nigeria for power supplied in the first quarter of 2025, according to the Nigerian Electricity Regulatory Commission (NERC).
The NERC report revealed that bilateral customers from both countries — specifically SBEE (Société Béninoise d’Énergie Électrique) and CEET (Compagnie Energie Electrique du Togo) — failed to pay most of their outstanding invoices.
Togo’s CEET, which receives electricity under two separate agreements with Odukpani and Paras Energy, did not make any payments during the quarter. Meanwhile, Benin’s SBEE — with contracts involving Transcorp and Paras — made only partial payments.
Among the largest defaulters were:
•PARAS-CEET (Togo): Paid $0.63 million of a $1.92 million invoice
•TRANSCORP-SBEE (Afam 3): Paid $0.3 million out of $1.73 million
•TRANSCORP-SBEE (Ughelli): Remitted $1.82 million of a $4.97 million bill
•ODUKPANI-CEET and PARAS-SBEE: Made no payments
In total, only $5.8 million of the $17.24 million invoiced to six international bilateral customers was paid, reflecting a remittance rate of just 33.7%, according to the report. Only Niger Republic’s utility, NIGELEC — supplied by Mainstream Energy — settled its $3.03 million invoice in full.
Benin and Togo’s combined outstanding debt now exceeds $11 million, highlighting a growing concern over payment compliance from Nigeria’s foreign electricity customers. NERC has warned that continued non-payment poses a serious threat to the stability of Nigeria’s power market and may lead to suspension of electricity exports.
Domestically, while payment performance was comparatively better, several Nigerian bilateral customers also defaulted or made partial payments. Some were only servicing previous debts.
One bright spot was MSTM/Inner Galaxy, which paid its N1.64 billion invoice in full. However, other companies such as NDPHC/SUNFLAG, TAOPEX/KAM INT, TAOPEX/Kam Steel, and Sapele/Phoenix failed to make any payments, despite large outstanding amounts.
Partial payments were also reported:
NDPHC/WEEWOOD: Paid N71.74 million out of N104.03 million
NORTH SOUTH/STAR PIPE: Paid N21.51 million from a N32.39 million invoice
Trans Amadi (OAU & FMPI): Jointly paid N23.57 million of N35.98 million
Alaoju GENCO/APLE: Paid N100 million of N455.36 million, a 21.96% remittance rate
NERC also expressed concern over Ajaokuta Steel Company, which failed to pay its N1.38 billion (NBET) and N134.05 million (MO) invoices — continuing a long history of non-payment.
Analysts say the trend of poor remittances, both foreign and domestic, raises serious questions about the long-term viability of Nigeria’s bilateral and special power supply agreements.
