Togolese power utility CEET gets XOF25 billion from BOAD to pay its debts

Energy

Friday, 26 June 2020 10:44

Togolese power utility CEET gets XOF25 billion from BOAD to pay its debts

(Togo First) - Twenty-five billion CFA. That is the amount recently approved by BOAD’s board of directors in profit of Togo’s power utility. The monies will be used by the latter to pay part of its debt to power suppliers.

Among others, the funds should enable Togo to ease tensions with Nigeria which it owes, together with Niger and Benin, nearly XOF45 billion. Nigeria has even threatened many times to cut power supply if the debt was not cleared.

In detail, Togo and Benin owe XOF14.67 billion for Q1 2019, XOF10.8 billion for Q2 2019, and XOF3.4 billion for Q3 2019, according to Nigerian media.

It is worth noting that Togo and Benin, since January 2019, have been buying electricity they need separately. As for the CEB, which used to be a joint organization between the two neighbors, it has been placed under provisional administration.

Ayi Renaud Dossavi

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