Nigerian Electricity Regulatory Commission Releases 3rd Quarter Report, Shows Poor Remittance

Nigerian Electricity Regulatory Commission in its third quarter report on the sector’s performance stated that while the DisCos were billed N208.54 billion for energy and administrative services by the Nigerian Electricity Bulk Trading Plc and Market Operator, MO, they collectively remitted a total of N141.69 billion (N100.16 billion for NBET and N41.53 billion for MO), translating to a remittance performance of 67.94 percent during the third quarter.

The report added that the remittance was however 17.84 percent higher than the 50 percent remittance rate recorded in the second quarter of 2021.

The report indicated that Eko DisCo recorded 103.29 percent (N20.40 billion) remittance performance while Abuja, Ibadan, Kano, Ikeja, Kaduna and Yola DisCos had remittance performances of 83.24 percent (N23.05 billion), 58.14 percent (N17.50 billion), 49.37 percent (N8.17 billion), 13.35 percent (N2.46 billion) and 21.19% (N0.96 billion) respectively in 2021/Q3.