Nigeria has recovered the sum of N19.712bn ($64,630,055:00) from its international customers in Benin Republic and Republic of Niger for electricity supplied, according to Babatunde Fashola, minister for power, works and housing.
This leaves an outstanding amount of $51.28million.
Fashola, in his remarks at the 21st monthly power sector operators meeting held in Asaba, Delta state yesterday, said the Nigerian Bulk Electricity Trader, (NBET) will work out the modalities for distribution of the funds.
In August, NBET and the Transmission Company of Nigeria (TCN) jointly wrote to the power firms of the two countries demanding the payment of an outstanding $115.91m (about N35.4bn at the official exchange rate of N305 to a dollar, for electricity supplied to them from Nigeria.
According to the memo, the outstanding amounts owed by Community Electric du Benin (CEB) amounted to $101.46m; and NIGELEC of the Republic of Niger was $14.45m, urging them to make settle their obligations or risk being cut off from electricity supply.
Power supply to these two countries is being executed through the Federal Government wholly owned agencies, the Nigeria Bulk Electricity Trading Plc (NBET) and the Transmission Company of Nigeria (TCN).
The long standing debts have hampered the operation of GenCos and have impeded grid expansion efforts, the minister had said.
Speaking on the industry activities within the last month, Fashola said the Transmission Company of Nigeria (TCN) expanded transmission capacity in Zaria, Kaduna State and Funtua, Katsina State by adding 40 and 60MVA transformers to the Transmission sub-station to increase the TCN capacity to transmit power in those areas.
“The Nigerian Electricity Regulatory Commission (NERC) completed consultation and issued the Regulations needed to guide the operations and implementation of the eligible customer declaration that I made, to increase our capacity to distribute power;
“Rural Electrification Agency (REA) completed the guidelines for the operation of the rural electrification fund that will help vulnerable groups and communities gain access to funding to support their electricity development program, said Fashola.
