Niger currently owes Nigeria N4.22bn ($5.48m: $/N769.27 exchange rate) for power supply; the Nigerian Electricity Regulatory Commission’s just released first quarter report has stated.
According to the report, Niger’s state power firm, Nigerien Electricity Society, was yet to remit the $5.48m invoice issued for power supply by the Nigerian market operator.
“None of the underlisted international customers made any payment against the cumulative $16.11m invoice issued to them in 2023/Q1; Paras-SBEE ($3.46m), Transcorp-SBEE ($3.85 million), Mainstream-NIGELEC ($5.48m) and Odukpani-CEET ($3.32 million).
“Out of N842.38m invoice issued by MO to all the eight (8) bilateral customers in the NESI, only North-South/Star Pipe made a remittance of N15.38m against its invoice of N24.69m,” it stated.
The NERC mandated the Market Operator to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by the various market…