Electricity: Benin, Niger, and Togo owe Nigeria $17.8 million.

According to the report published by the regulatory authority for the third quarter of 2025, Togo, Niger, and Benin show a cumulative debt estimated at $17.8 million to Nigeria, equivalent to about 25 billion naira. These amounts relate to electricity delivered by Nigerian producers and routed through the national grid.

During the period considered, invoices issued to these three international buyers amounted to $18.69 million. However, the payments actually recorded amounted to only $7.125 million, leaving an outstanding balance of more than $11.5 million at the end of the quarter.

In addition to this, debts from earlier periods were outstanding. Prior arrears totaled $14.7 million, of which $7.84 million has been paid, leaving an outstanding balance of $6.23 million. The entities involved are the Togolese National Electricity Company, the Benin Electricity Company, and the Nigerien National Electricity Company.

Ultimately, the recovery rate of receivables tied to international bilateral contracts reached only 38.09% in the third quarter of 2025, illustrating persistent difficulties in settling invoices by foreign customers. The electricity in question is produced by Nigerian generation companies (GenCos) connected to the national grid and sold under intergovernmental commercial agreements.

Conversely, the payment performance of bilateral customers operating on Nigerian territory appears markedly more satisfactory. On a total amount billed of 3.64 billion naira during the quarter, 3.19 billion naira were collected, i.e., a recovery rate above 87%. “National bilateral customers paid a cumulative amount of 3.19 billion naira out of the 3.64 billion naira billed for services rendered in the third quarter of 2025, which corresponds to a recovery rate of 87.61%,” says the Nigerian Electricity Regulatory Commission.