Bilateral Companies Owe Nigeria $8.5m for Power Supply – NERC

The Nigerian Electricity Regulatory Commission (NERC) has reported that some international bilateral companies owe Nigeria’s electricity generation companies (GenCos) about $8.5 million in unpaid power supply.

In its latest quarterly report, the Commission said the companies made a payment of $9.015 million from an invoice of $17.54 million issued to them in the second quarter (Q2) of 2025, indicating a default of about $8.5 million.

“In 2025/Q2, the six (6) international bilateral customers purchasing power from the grid-connected GenCos made a cumulative payment of $9.015 million against the $17.54 million invoice issued to them by the MO for services rendered in 2025/Q2 (remittance rate – 51.33%).

“Similarly, the domestic bilateral customers made a cumulative payment of N1.401 billion against the N2.79 billion invoice issued to them by the MO for services rendered in 2025/Q26 (remittance rate – 50.10%),” NERC said

According to the report, the remittances are based on reconciled market settlement submitted to the commission as at September 30.

“It is noteworthy that one domestic bilateral customer made payments during 2025/Q2 for outstanding MO invoices from previous quarters. The MO received N10.53m from Trans-Amadi (OAU/FMPI) towards outstanding invoices from previous quarters,” the commission said.

NERC added that the Ajaokuta steel company limited and the host community did not make any payment for the N1.27 billion invoice from Nigerian Bulk Electricity Trading (NBET) Plc.

The commission said the plant did not also pay N120 million MO invoices received in the reviewed quarter.

The NERC added that the debt continues a longstanding trend of non-payment by “this customer and the commission have communicated the need for intervention on this issue to the relevant FGN authorities”.