Two of Nigeria’s closest neighbours, Benin and Niger owe the country up to N1.4bn, the Presidency revealed on Tuesday.
In a statement, signed by spokesman Garba Shehu, addressing a report questioning why the nation was exporting electricity to neighbouring countries on credit – while blackouts persist nationwide – the Presidency noted that, as at 2019, the debt owed by four countries totalled $69m.
“As of the last review in 2019, the amount of indebtedness to all three customers stood at $69 million, subsequent upon which several payments were made to NBET,” the statement said. “Much of this has been repaid by the debtor nations.
“As of today, Niger owes only USD 16 million and Benin, USD 4 million, adding up to the Naira equivalent of about N1.2bn.”
The Presidency statement on Tuesday explained that the country exports power to neighbouring countries in respect of multilateral agreement that prevents the damming of water sources into the nation’s main hydropower stations.
“Power exported to Niger, Benin and Togo based on Multilateral Energy Sales Agreement with the Government of Nigeria is on the basis that they would not dam the waters that feed our major power plants in Kainji, Shiroro and Jebba,” the Presidency said.
“The essence of said bilateral agreements, by which we give them power and they do not build dams on the River Niger means that Nigeria and her brotherly neighbours had avoided the unfolding situation of the Nile River between the sovereign states of Ethiopia, Sudan and Egypt.”