Nigeria’s financial struggle persists as Niger, Togo, others fail to defray $14.19m Q1 electricity debt
Nigeria is facing increasing financial strain as international customers failed to pay $14.19 million for electricity supplied in the first quarter of 2024.
The Nigeria Electricity Regulatory Commission’s (NERC) report reveals that all four international clients, including Benin Republic, Niger, and Togo, did not settle their bills, adding to Nigeria’s growing economic challenges.
The issue of unpaid debts extends to domestic customers, who owe a total of N1.86 billion for the same period.
Despite some progress in clearing past debts, the ongoing failure to meet current obligations continues to pressure Nigeria’s electricity sector. In response, the Nigerian government has issued directives to limit electricity supply to international customers and prioritize local distribution.
However, the unresolved debts, both international and domestic, pose a significant threat to the stability of Nigeria’s electricity sector and overall financial health.