The Ajaokuta Steel Company and other international customers owe the power sector N12.2b, according to the 2018 first quarter report of the Nigerian Electricity Regulatory Corporation (NERC).

NERC disclosed yesterday that in the period under review, invoices issued to foreign customers (CEB/SAKETE and NIGELEC) and special customer (Ajaokuta) stood at N12.2b, but payments were not received from the customers.

The commission said the Federal Government has continued to engage governments of neighbouring countries to ensure payments for electricity they bought. Out of the N171.1b billed customers in the first quarter of 2018, only N106.6b was recovered, representing 62.3 per cent collection efficiency, the report clarified.

Source: The Guardian