The National Bureau of Statistics (NBS) said a total amount of revenue generated by electricity distribution companies (DisCos) rose by 20.81 per cent.
The NBS, which disclosed this in its latest ‘Electricity Report for Q1 2023 said the increase was recorded despite a drop of 1.74 per cent in power supply.
A year-on-year analysis of the report showed that Discos collected N247.33 billion as revenue in Q1 2023, up from N204.74 billion realised in Q1 2022.
However, electricity supply was 5,852 gigawatt hours in Q1 2023, down from 5,956 Gwh reported in Q1 2022.
The report also indicated that the DisCos generated N232.32 billion in Q4, 2022, bringing the total revenue raked in by the companies in six months to N479.65 billion.
“Revenue collected by the DisCos during the period was N247.33 billion from N232.32 billion in Q4 2022. On a year-on-year basis, revenue generated in the reference period rose by 20.81 per cent from N204.74 billion recorded in Q1 2022.
“Electricity supply was 5,852 (Gwh) in Q1 2023 from 5,611 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply declined by 1.74 per cent compared to 5,956 (Gwh) reported in Q1 2022,” the report stated
The report further disclosed that clients of the DisCos increased to 11.27 million in Q1 2023, as against 10.63 million during the corresponding period in 2022.
“Total customer numbers in Q1 2023 stood at 11.27 million from 11.06 million in Q4 2022, showing an increase of 1.89 per cent. On a year-on-year basis, customer numbers in Q1 2023 rose by 5.99 per cent from 10.63 million reported in Q1 2022.
“Similarly, metered customers stood at 5.31 million in Q1 2023, indicating a growth of 3.61 per cent from 5.13 million recorded in the preceding quarter. On a year-on-year basis, this grew by 10.86 per cent from the figure reported in Q1 2022 which was 4.79 million.
“In addition, estimated customers during the quarter were 5.96 million in Q1 2023, higher by 0.40 per cent from 5.93 million in Q4 2022. On a year-on-year basis, estimated customers increased by 1.99 per cent in Q1 2023 from 5.84 million in Q1 2022,” it stated.
The report further showed that Ibadan DisCo had the highest number of customers, about 2.23 million, followed by Abuja DisCo, 1.32 million; Enugu, 1.23 million.
Ikeja DisCo, with 1.07 million customer base, had the highest revenue of N49.76 million; Eko DisCo with a client base of about 666,941 had generated N41.73 million followed by Abuja with N38.12 million in Q1 2023.
