The Nigerian government is contemplating imposing regulations to recover a significant debt of $14.2 million owed by three neighboring countries for electricity supplied. The Nigerian Electricity Regulatory Commission (NERC) has directed the Electricity Market Operator to activate market regulations to ensure this recovery. In the first quarter of 2024, the government incurred over ₦633.30 billion in electricity subsidies, a 150.5% increase from the previous quarter, attributed to the harmonization of exchange rates and a lack of cost-reflective tariffs. Despite this high expenditure, electricity distribution companies (DisCos) reported a revenue shortfall, collecting only ₦291.62 billion against ₦368.65 billion billed to customers. The total energy supplied was 7,171.93 GWh, with an overall billing efficiency of 80.45%. Ikeja DisCo led revenue collections, while Yola DisCo reported the lowest figures.