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Niger, Benin Repulic pay Nigeria $64.6bn for power supply

Niger, Benin Repulic pay Nigeria $64.6bn for power supply”

The Nigerian government has successfully recovered about $65 million owed to the country by Republic of Niger and Republic of Benin for electricity supplied to the two countries.

He spoke at the 21st Monthly Power Sector Ministerial /Stakeholders meeting in Asaba, Delta State. So we have a total of $64,630,055 that has been recovered.

He noted that disbursements of the recovered funds to beneficiaries by the NBET would shortly commence, and that eligible beneficiaries would get paid their monies in this regards.

On August 9, 2017, The PUNCH had exclusively reported that the NBET and the Transmission Company of Nigeria jointly wrote to the 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 by Nigeria.

Our correspondent gathered that the letter was written to NIGELEC of the Republic of Niger and Community Electric du Benin of the Republic of Benin.

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.

He said, the Nigeria Electricity Bulk Trading Company (NBET) is expected to work out the modalities before onward distribution of the fund to the Electricity Distribution Companies (DisCos).

Similarly, Fashola, in his report of progress, said the sector has made since he took over as minister, claimed that critics of the government were finding it hard to accept the level of progress the sector has recorded so far.

On estimated billing and metering, he also explained that government and sector operators were anxiously awaiting the guidelines from the regulator, Nigerian Electricity Regulatory Commission (NERC) to open up the meter supply business.

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. Your honesty inspires us to continue.

Addressing heads of DISCOS across the country in the power sector, the minister said generation has hit 7,000mw due to the stable peace in the gas producing area of Niger Delta region.

"This is a fair balance and now that the waters are going down it is also the time for us to prove our mettle by stabilizing upward, the power being generated. 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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