DisCos collected N630.93bn in Q4 2025 revenue – Report

Omeiza Bilal

he total revenue collected by all electricity Distribution Companies (DisCos) in the fourth quarter of 2025 was ₦630.93 billion out of ₦795.06 billion billed to customers, the Nigerian Electricity Regulatory Commission (NERC), has said.

According to itsNERC Fourth Quarter 2025 Report, the amount translates to a collection efficiency of 79.36%, representing a decrease of 1.35pp compared to 2025/Q3 (80.70%).

The weighted Aggregate Technical, Commercial and Collection (ATC&C) loss across all DisCos in Q4 2025 was 34.90%, comprising technical and commercial loss (17.97%) and collection loss (20.64%).

“The ATC&C loss of 34.90% is 14.36pp higher than the 2025 MYTO target (20.54%) and translates to a cumulative revenue loss of ₦139.193 billion across all DisCos.

“The ATC&C loss increased by 1.63pp (worse performance) compared to 2025/Q3 (33.27%). All the DisCos except Eko failed to meet their ATC&C targets during the quarter, with Kaduna DisCo recording the worst underperformance relative to the target (Actual – 69.45% vs target – 21.32%),” the report stated.

In the period under review, the three (3) international bilateral customers’ purchasing power from the grid-connected GenCos made a cumulative payment of $10.895 million against the $20.44 million invoice issued by the MO for services rendered in Q4 2025.

The regulator noted that “domestic bilateral customers made a cumulative payment of ₦3,514.06 million against the ₦4,172.11 million invoice issued by the MO for services rendered in 2025/Q4 (remittance rate: 84.23%).”

As per grid performance in Q4 2025, NERC stated that the “average lower daily (49.38Hz) and average upper daily (50.65Hz) system frequencies were outside the normal operating limits (49.75Hz – 50.25Hz) but remained within the lower and higher bound stress limits (48.75Hz – 51.25Hz).

“Similarly, the average lower daily system voltage (297.96kV) and the average upper daily system voltage (347.03kV) were outside the range (313.50kV – 346.50kV) specified in the grid code.”