Posted by Amarachi on Thu 10th Aug, 2023 - tori.ng
The Commission said Paras-SBEE owed $3.46 million, Transcorp-SBEE also owed $3.85 million, Mainstream-NIGELEC owed $5.48 million, and Odukpani-CEET will pay $3.32 million.
The Federal government has disclosed that Niger Republic, Benin Republic and Togo are owing the sum of $16.11 million for the electricity supplied to them in the first quarter (Q1) of 2023.
The Nigerian Electricity Regulatory Commission (NERC) made this known in its 2023 Q1 report released on Wednesday in Abuja.
According to the NERC, the report shows that the value of electricity was sold to four firms in three countries, namely Paras-SBEE and Transcorp-SBEE, both from the Benin Republic; Mainstream-NIGELEC from Niger; and Odukpani-CEET from Togo.
The Commission said Paras-SBEE owed $3.46 million, Transcorp-SBEE also owed $3.85 million, Mainstream-NIGELEC owed $5.48 million, and Odukpani-CEET will pay $3.32 million.
It said the non-remittance by international and bilateral customers continues a trend that should prompt it to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by the various market participants.
The report reads: “None of the under listed international customers made any payment against the cumulative $16.11 million invoice issued to them in Q1 2023; Paras-SBEE ($3.46 million), Transcorp-SBEE ($3.85 million), Mainstream-NIGELEC ($5.48 million) and Odukpani-CEET ($3.32 million).
“The market operations (MO) issued invoices to all the eight bilateral customers in the NESI in 2023/Q1 which amounted to N842.38 million. During the quarter, only North-South/Star Pipe made a remittance of ₦15.38 million against an invoice of N24.69 million issued to them.
“This means that for the period, the cumulative remittance performance of bilateral customers was 1.83 per cent.”