International Customers Failed To Remit N8.5bn

In the third quarter of 2023, according to NERC, all four international customers receiving services from Generation Companies (GenCos) within the Nigerian Electricity Supply Industry (NESI) did not make any payments towards the total invoice of $11.16 million issued to them by the Market Operator (MO) for services rendered.

Based on the exchange rate of ₦775/$1 at the time, this amounts to approximately ₦8.5 billion not remitted by the four international customers.

Similarly, NERC stated that none of the 16 bilateral customers operating within the NESI made any payments towards the cumulative invoice of ₦2.8 million issued to them by the MO for services rendered in the third quarter of 2023.