Newscenter Media News By: Babajide Okeowo
Revenue generated by electricity Distribution companies dipped by N3bn in the first quarter of 2024, fresh data by the National Bureau of Statistics (NBS) has shown.
According to the Nigeria Electricity Report in the first quarter of this year published by the bureau recently, revenue collected by the DISCOs in Q1, 2024 was N291.62 billion, down from N294.95 billion in Q4 2023.
On a year-on-year basis, revenue generated in the reference period rose by 17.91%, up from N247.33 billion recorded in Q1 2023.
Ikeja, Eko and Abuja Discos topped in terms of revenue collection in the quarter receiving N57.87 billion, N48.74 billion and N48.60 billion respectively.
On the other hand, Kaduna, Kano and Yola Discos raked in the lowest revenue at N9.60 billion, N13.6 billion and N5.4 billion respectively.
Meanwhile, the total volume of electricity supply by Discos to customers in the first quarter of 2024 declined by 10.3% from 6,432.22 (Gwh) in Q4, 2023 to 5,769.52 (Gwh) in the first three months of this year.
However, on a year-on-year basis, electricity supply decreased by 1.41% compared to the 5,851.87 GWh reported in Q1 2023.
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Ikeja Disco distributed the highest electricity in the quarter under review at 908 (GWh) trailed by Eko and Abuja Disco at 849 (GWh) and 846 (GWh).
Furthermore, total customer numbers in Q1 2024 stood at 12.33 million, up from 12.12 million in Q4 2023, representing an increase of 1.78%.
On a year-on-year basis, customer numbers in Q1 2024 rose by 9.47%, compared to the 11.27 million reported in Q1 2023.
Similarly, the number of metered customers stood at 5.91 million in Q1 2024, indicating a growth of 5.38% from the 5.61 million recorded in the preceding quarter.
On a year-on-year basis, this figure grew by 11.26% from the 5.31 million reported in Q1 2023.
When compared by Discos, Ibadan Disco had the highest number of metered customers at 1.06 million followed by Ikeja Disco and Abuja Disco with 919 thousand and 892 thousand respectively.
The Disco with the least number of metered customers were Kano, Kaduna and Yola Discos with 211 thousand, 206 thousand and 126 thousand respectively.
Additionally, estimated billed customers during the quarter totalled 6.43 million, an increase of 10.22% from the 5.83 million in Q4 2023.
On a year-on-year basis, estimated customers increased by 7.88% in Q1 2024, up from 5.96 million in Q1 2023.
Ibadan also recorded the highest number of estimated billed customers at 1.41 million followed by Enugu Disco at 765 thousand and Yola Disco at 690 thousand.
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