Nigeria Recovers $65m Electricity Debt from Niger, Benin

Nigeria recovers $64.63m electricity debt from Benin, Niger

Nigeria recovers $64.63m electricity debt from Benin, Niger

The Federal Government has received $64.63 million, about (N19.7 billion) from Niger and Benin Republics as payment for electricity supplied to them, the Minister of Power Works and Housing, Raji Babatunde Fashola, said yesterday. (NBET) has recovered $64.6 million out of about $115.91 million owed operators in the country's power market by both countries.

During the meeting, the federal government had requested that both countries pay their outstanding bills to allow electricity companies keep up with their supply obligation to them.

Mr. Fashola said the money recovered was from Benin and Niger Republic. "While we await the regulations by NERC, a lot of preparatory work can be done".

Similarly, NBET in August disclosed in this regards that during the worldwide customers owed Nigeria about $115.91 million, with the CEB of Benin Republic reportedly owing $101.46 million while NIGELEC of Niger Republic owed $14.45 million.

Nigeria supplies power to both countries under an global treaty through the NBET and Transmission Company of Nigeria (TCN).

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Hinting that the ministry signed the EPC contract for the Mambilla Hydro power project, Fashola said the New Asaba Main 2x15MVA injection substation among other recently or soon to be commissioned projects is a pointer to the fact that huge progress is being made in the journey towards incremental, steady and uninterrupted power.

In a related development for the power sector, Fashola announced that the Rural Electrification Agency (REA) was ready to issue guidelines for the operation of the rural electrification fund which would help vulnerable groups and communities to gain access to funding to support their electricity development programmes. We remind ourselves that we are not immune from what we do, if we make it work as we intend to do, it will also serve us.

The Nation reports that the minster thanked well-meaning Nigerians who acknowledged that their experience with power supply had improved, adding that their honesty-inspired government and the operators to continue the improvement.

"Minute by minute, hour by hour, day by day, week by week and month by month we have not only gained momentum, we are seeing progress that inspires us to continue, because the power problem can be successfully managed by Nigerians".

"This is a fair balance and now that the waters are going down, it is also time for us to prove our mettle by stabilising upward the power being generated", he said. "I know that the capacity we have will be enough to pull us through to the next rainy season", he added.

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