Nigeria’s electricity regulator has revealed that three neighbouring countries—Togo, Niger, and Benin—owe the country $17.8 million (over N25 billion at current exchange rates) for power supplied under bilateral electricity agreements.

The Nigerian Electricity Regulatory Commission (NERC) disclosed this in its Third Quarter 2025 report on the Nigerian Electricity Supply Industry (NESI). According to the report, international customers were billed a total of $18.69 million for electricity supplied during the third quarter, but only $7.125 million was paid, leaving a shortfall of $11.56 million.

NERC also noted that the same international offtakers had outstanding legacy debts of $14.7 million from previous periods. Of this, $7.84 million was settled, leaving $6.23 million unpaid. Combined with the Q3 shortfall, the total debt stood at $17.8 million, equivalent to about N25.36 billion at an exchange rate of N1,425 per dollar.

The regulator identified the defaulting utilities as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of Benin, and Société Nigérienne d’Électricité of Niger. The three collectively paid only 38.09% of their Q3 invoices, leaving more than half of the billed amount unsettled.

The commission clarified that the exported electricity was generated by Nigerian grid-connected power companies and supplied through cross-border bilateral arrangements.

By contrast, domestic bilateral customers demonstrated stronger payment compliance, settling N3.19 billion of the N3.64 billion invoiced for Q3, representing a remittance rate of 87.61%. Some customers, both international and domestic, also made additional payments to clear previous outstanding invoices. Specifically, the Market Operator received $7.84 million from international and N1.3 billion from domestic customers toward legacy debts.

Beyond bilateral arrangements, NERC reported that Nigeria’s 11 electricity distribution companies remitted N381.29 billion to the Nigerian Bulk Electricity Trading Plc and the Market Operator in Q3, out of a cumulative invoice of N400.48 billion, achieving an overall remittance performance of 95.21%.

The commission stated that the figures were based on reconciled market settlement data submitted as of December 18, 2025, forming part of its statutory assessment of the commercial health and performance of the electricity sector.