The Nigerian Electricity Regulatory Commission (NERC) has revealed that some foreign companies buying power from Nigeria still owe electricity generation companies (GenCos) about $8.5 million in unpaid bills.
According to NERC’s latest quarterly report, the international bilateral customers were billed $17.54 million for power supplied in the second quarter (Q2) of 2025, but only $9.015 million was paid — leaving a shortfall of roughly half the amount.
“In Q2 2025, six international bilateral customers that purchase power from grid-connected GenCos paid a total of $9.015 million out of the $17.54 million invoice issued to them — a remittance rate of 51.33%,” the report stated.
NERC also noted that domestic bilateral customers — companies that buy power directly within Nigeria — paid ₦1.4 billion out of a total ₦2.79 billion invoiced, which represents about 50% of what they owed.
The Commission explained that these figures were based on market settlements reconciled as of September 30, 2025. It also mentioned that one local customer made partial payments for previous debts, with Trans-Amadi (OAU/FMPI) paying ₦10.53 million toward old outstanding invoices.
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However, Ajaokuta Steel Company Limited and its host community failed to make any payment for their ₦1.27 billion invoice from the Nigerian Bulk Electricity Trading (NBET) Plc, as well as another ₦120 million owed to the Market Operator (MO) during the quarter.
NERC described Ajaokuta’s continued failure to pay as part of a longstanding trend of non-payment, adding that the Commission has already informed the Federal Government about the need for urgent intervention on the matter.
