DisCos rake in N294.945bn revenue in Q4 2023
Omeiza Bilal
Total revenue collected by the Electricity Distribution Companies (DISCOs) across the country in the last quarter of 2023 increased to N294.945 billion.
The amount represents an increase of N34.785 billion or 13.37 per cent against N260.16 billion reported in the third quarter of 2023.
The Nigeria electricity data report released by Nigeria Bureau of Statistics (NBS) for the last quarter of 2023 showed that on a year-on-year basis, revenue generated in the reference period rose by 26.96 per cent from N232.32 billion recorded in the fourth quarter of 2022.
The report revealed that the electricity supply was 6,432. (Gwh) in the fourth quarter 2023 from 5,732 (Gwh) in the previous quarter.
However, on a year-on-year basis, electricity supply increased by 14.64 per cent compared to 5,611 (Gwh) reported in the corresponding period of 2022.
An analysis of the report showed that total customer numbers in the fourth quarter stood at 12.12 million from 11.71 million in the preceding quarter showing an increase of 3.46 per cent.
On a year-on-year basis, customer numbers in the fourth quarter of 2023 surged by 9.59 per cent from 11.06 million reported in the same period of 2022.
Similarly, metered customers stood at 5.61 million within the reviewed period, indicating a decrease in the growth rate of 1.32 per cent from 5.68 million recorded in the preceding quarter.
On a year-on-year basis, this grew by 9.38 per cent from the figure reported in the last quarter of 2022 which was 5.13 million.
In addition, estimated customers during the quarter were 5.83 million, showing a decrease of 3.34 per cent from 6.03 million in the third quarter of 2023. In the same vein on a year-on-year basis, estimated customers also decreased by 1.73 per cent in Q4 2023 from 5.93 million in Q4 2022
The NBS report, however, showed that in Abuja a total revenue of N46.234.945 billion was generated within the period, estimated billing customers went to 5.830 million, metered customers stood at 5.604 million while total customers rose to 12.118 billion.
For Eko distribution company in Lagos, total revenue collected went to N50.187 billion, estimated billing customers was 255,818, metered customers were 434,214.
On the other hand, Ikeja discos recorded N59.753 billion revenue with estimated billing customers standing at 217,581, metered customers were at 902,534 while total customers stood at 1.120 billion at the end of the quarter.
The NBS data further revealed that Enugu distribution company recorded revenue of N23.328 billion with a total customer of 1,321,862 while
Ibadan Discos raked in N31.818 billion revenue, recording 2,423454 customers.
Also, Kaduna and Kano distribution companies generated revenue amounting to N9.009 billion and N14.318 billion respectively with total customers of 838,371 and 681.960 respectively.
Port Harcourt on the other hand reported N20.181 billion revenue with total customers of 727470 while in Yola N6.714 billion was generated as revenue recording total customers of 814653 million.
