Nigeria’s electricity market has recorded an outstanding $11.16 million from three international bilateral customers in 2025, as electricity supplied to Benin, Togo and Niger generated $73.91 million in invoices against payments of only $62.75 million.

The latest Nigerian Electricity Regulatory Commission (NERC) Annual Report and Accounts showed that the three international customers; Societe Beninoise d’Energie Electrique (SBEE), Compagnie Energie Electrique du Togo (CEET) and Societe Nigerienne d’electricite (NIGELEC) achieved an overall remittance performance of 84.90 per cent during the year.

The $11.16 million outstanding represents the difference between the $73.91 million invoiced by the Market Operator (MO) and the $62.75 million actually remitted by the international customers.

“The international bilateral customers received a total invoice of $73.91 million for ancillary services provided by the MO and made a total payment of $62.75 million, corresponding to a remittance performance of 84.90 per cent,” NERC stated.

The report showed that the largest unpaid amount came from Odukpani/CEET, which received an invoice of $9.70 million but made no payment, representing zero per cent remittance performance.

Paras-SBEE received a $10.15 million invoice and paid $9.37 million, leaving $780,000 outstanding, while Transcorp/SBEE-Afam 3 recorded an $8.88 million invoice against $8.20 million in remittances, leaving $680,000 unpaid.

The other three international transactions recorded full remittance. Paras-CEET was invoiced $8.22 million and paid the full amount; Transcorp/SBEE-Ughelli also received an $18.54 million invoice and remitted the entire sum, while Mainstream/NIGELEC paid the full $18.42 million invoiced.

According to the Commission, the six transactions involving the three foreign electricity customers produced $73.91 million in invoices and $62.75 million in remittances.

The international customers are part of Nigeria’s cross-border electricity market, with the NERC report stating that the Nigerian Electricity Supply Industry continued to provide electricity to the three customers in 2025.

The report also revealed a contrast between international and domestic bilateral customers. Domestic bilateral customers were issued invoices totalling N13.20 billion and paid N12.75 billion, translating to a much stronger remittance performance of 96.60 per cent.

For the international transactions, however, the 84.90 per cent performance means that about 15.1 per cent of the total amount invoiced remained unpaid during the reporting period.

The development adds to the financial pressures facing the electricity market, where the Commission reported that the wider market recorded a N89.58 billion shortfall from DisCos in 2025 after they remitted N1.63 trillion against a gross N1.72 trillion invoice from the Nigerian Bulk Electricity Trading Company (NBET) and Market Operator.

Overall, the domestic bilateral customers and DisCos recorded a combined remittance shortfall of about N90.03 billion in 2025, underscoring the continuing liquidity pressures within the electricity market.