The Nigerian Electricity Regulatory Commission (NERC) has appealed to the Federal Government to address the persistent issue of non-payment and rising debts within the power sector, particularly from international customers.
NERC, in its latest report for the fourth quarter of 2023, disclosed that 11 electricity Distribution Companies (DisCos) and four international customers failed to remit a total of ₦97.5 billion to the power sector in Q4 2023.
The 11 DisCos withheld ₦81 billion, while international customers—Paras SBEE, Transcorp SBEE, Mainstream NIGELEC, and Odu-Pani-CEET—did not remit $12 million (approximately ₦16.5 billion) as invoiced by the Market Operator (MO).
The report breaks down the debt situation, showing that the DisCos had a cumulative upstream invoice of approximately ₦270 billion for Q4 2023, which included ₦223 billion for generation costs from the Nigerian Bulk Electricity Trading (NBET)…
Source: Guardian Newspaper
