The Transmission Company of Nigeria (TCN), the market operator, reported Monday that Togo and the Benin Republic owe Nigeria a $1.7 million legacy debt for energy.
This occurred as the market operator, under the direction of Dr. Edward Eje, hosted participants in the cross-border energy market to address problems with energy transactions and give solutions for efficient business operations in the delivery of energy to Togo and the Benin Republic.
According to a statement from Eje, the two nations had sovereign off-take of power up until 2019, at which point they both turned to bilateral energy agreements due to the privatisation of Nigeria’s generators and distributors.
Other topics covered, according to him, including the two nations’ unresolved energy reconciliation for the time frame of October 2020 to February 2021, which both nations anticipated the market operator would resolve as a neutral party.
Eje demanded that the two countries pay their $1,715,786.25 legacy debt to Nigeria, stating that this is the actual amount still owed.
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