Contrasting Export Figures
The latest data from the Nigerian Electricity Regulatory Commission (NERC) reveals a stark disparity between the value of exported electricity from Nigeria in 2022, estimated at $50.98 million (N23.5 billion), and the amount remitted by international customers, which stood at $32.69 million (N15.1 billion). This discrepancy of $18.29 million (N8.4 billion) has left many questioning the economic sense behind exporting such a precious resource when a significant portion of the population lacks access to electricity.
Remittance Shortfalls and Cross-Border Customers
Analysis of the remittances made by special/cross-border customers during the fourth quarter of 2022 indicates mixed results. While Transcorp-SBEE and Mainstream-NIGELEC showed commendable remittance percentages of 27.04% and 98.9%, respectively, Paras-SBEE and Odukpani-CEET failed to remit the full amounts invoiced. This non-settlement of market obligations has raised concerns, calling for the activation of safeguards to address remittance shortfalls.
Consumer Advocacy and Justifications
Consumers, represented by the Nigeria Electricity Consumer Advocacy Network (NECAN), have vehemently opposed the export of electricity, highlighting the dire state of energy access in the country. Uket Obonga, NECAN’s National Secretary, has emphasized that the export contradicts the needs of Nigerians and appears economically unsound. However, government officials and the Transmission Company of Nigeria (TCN) have defended the exports, asserting that they fulfill obligations and generate foreign exchange for national development.