NBET, TCN demand N35.4bn electricity payments from Benin, Niger

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The Nigerian Bulk Electricity Trading Plc and the Transmission Company of Nigeria have jointly written to power firms of the Republics of Benin and Niger, 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 both countries from Nigeria, The Punch reports.

It was learnt that the letter was written to NIGELEC of the Republic of Niger and Community Electric du Benin of the Republic of Benin. The outstanding amounts owed by CEB is $101.46m; while NIGELEC owes $14.45m.

NBET and the TCN are planning to attend a meeting at CEB’s headquarters in Lome, Togo, to finalise and execute the power sale agreement currently being negotiated and to prevail on CEB to immediately effect the outstanding payment at the meeting.