Revenue generated by electricity Distribution companies fell by N3 billion in the first quarter of 2024, according to the latest data from the National Bureau of Statistics (NBS).
According to the Nigeria Electricity Report for the first quarter of the year published by the bureau recently, the revenue collected by 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 17.91%, up from N247.33 billion recorded in Q1 2023.
Ikeja, Eko and Abuja Discos topped the list in terms of revenue collection in the quarter with N57.87 billion, N48.74 billion and N48.60 billion respectively.
On the other hand, Kaduna, Kano and Yola Discos earned the lowest revenues at N9.60 billion, N13.6 billion and N5.4 billion respectively.
Meanwhile, the total volume of Disco electricity supply to customers in the first quarter of 2024 decreased by 10.3% from 6,432.22 (Gwh) in the fourth quarter of 2023 to 5,769.52 (Gwh) in the first three months of this year.
However, year-on-year, electricity supply decreased by 1.41% compared to 5,851.87 GWh reported in Q1 2023.
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Ikeja Disco distributed the highest amount of electricity in the reporting quarter at 908 (GWh) followed by Eko and Abuja Disco at 849 (GWh) and 846 (GWh).
In addition, the number of customers in Q1 2024 reached 12.33 million, up from 12.12 million in Q4 2023, or an increase of 1.78%.
On a year-on-year basis, the number of subscribers in Q1 2024 increased by 9.47%, compared to 11.27 million reported in Q1 2023.
Similarly, the number of metered customers reached 5.91 million in Q1 2024, showing a growth of 5.38% from 5.61 million recorded in the previous quarter.
On an annual basis, this figure grew by 11.26% from 5.31 million reported in Q1 2023.
When compared with Discos, Ibadan Disco has the highest number of metered customers, namely 1.06 million, followed by Ikeja Disco and Abuja Disco with 919 thousand and 892 thousand respectively.
Discos with the fewest number of metered customers are Kano, Kaduna and Yola Discos with 211 thousand, 206 thousand and 126 thousand respectively.
Additionally, estimated customers billed during the quarter totaled 6.43 million, an increase of 10.22% from 5.83 million in Q4 2023.
On a year-on-year basis, forecast subscribers increased by 7.88% in Q1 2024, up from 5.96 million in Q1 2023.
Ibadan also recorded the highest estimated number of customers billed at 1.41 million, followed by Enugu Disco at 765 thousand and Yola Disco at 690 thousand.
By: Babajide Okeowo
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