According to data from the Nigerian Electricity Regulatory Commission (NERC), three international customers in the Nigerian power sector made payments totaling $8.67 million out of $18.84 million invoiced in the second quarter of 2026. This translates to a remittance rate of 46.02%. The invoices were issued by the Market Operator for services rendered to customers who purchase power from grid-connected generation companies.
The countries involved in these transactions are Benin, Nigeria, and Togo, with their respective electricity suppliers being Société Béninoise d’Energie Electrique (SBEE), Compagnie Energie Electrique du Togo (CEET), and Société Nigérienne d’Electricité (NIGELEC). NIGELEC, supplied through Mainstream, paid its entire $5.79 million invoice, making it the only international account to do so in the quarter.
SBEE’s account with Paras was invoiced $2.46 million and paid $1.73 million, representing a 70.33% payment rate. Similarly, CEET’s account with Paras was invoiced $1.68 million and paid $1.15 million, which is 68.45%. However, there were accounts that made no payment for the quarter, including SBEE’s accounts with Transcorp for Ughelli ($2.67 million) and Afam 3 ($4.38 million), and CEET’s account with Odukpani ($1.86 million).
These non-paying accounts collectively accounted for $8.91 million of the unpaid amount. The monthly breakdown showed a decline in payments in June, with customers paying $3.32 million of $6.63 million invoiced in April, $3.37 million of $6.84 million in May, and $1.98 million of $5.37 million in June.
In addition to the Q2 payments, the report noted that the three customers also paid $10.33 million towards outstanding Market Operator invoices from the first quarter. SBEE paid $7.01 million, comprising $3.30 million for Ughelli, $1.94 million for Paras, and $1.77 million for Afam 3. CEET and NIGELEC paid $1.67 million and $1.65 million, respectively.
On the domestic front, bilateral customers paid N6,912.92 million of the N7,551.70 million invoiced, achieving a remittance rate of 91.54%. However, Ajaokuta Steel Company Limited and its host community failed to make any payments on invoices totaling N1,182.71 million from the Nigerian Bulk Electricity Trading Plc and N171.04 million from the Market Operator.
NERC has identified this non-payment as a longstanding trend and has informed the relevant federal government authorities that intervention is necessary to address the issue. The commission's report highlights the need for improved payment compliance among international customers to ensure the stability of the power sector.
Key points
- International customers in Nigeria's power sector paid $8.67 million of their $18.84 million invoice in Q2 2026.
- NIGELEC was the only international account to pay its entire $5.79 million invoice in the quarter.
- Non-payment from some accounts, totaling $8.91 million, was a significant factor in the overall remittance rate of 46.02%.
