“DISCOs Generate N294.95 Billion in Q4 2023 as Electricity Revenue Surges”

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The Electricity Distribution Companies (DISCOs) in Nigeria have reported a significant increase in revenue generation, recording a total of N294.95 billion in the fourth quarter (Q4) of 2023.

 

According to the latest report by the National Bureau of Statistics (NBS) on electricity for Q4 2023, the revenue generated by DISCOs surged by 26.96 percent compared to the N232.32 billion recorded in Q4 2022.

 

The report revealed that revenue collected by DISCOs during the period witnessed a notable rise from N260.16 billion in Q3 2023 to N294.95 billion in Q4 2023.

 

Moreover, the electricity supply also experienced a notable increase, reaching 6,432 (Gwh) in Q4 2023 from 5,732 (Gwh) in the previous quarter. This represents a 14.64 percent year-on-year increase compared to 5,611 (Gwh) reported in Q4 2022.

 

The total number of customers in Q4 2023 stood at 12.12 million, marking a 3.46 percent increase from 11.71 million in Q3 2023. On a year-on-year basis, customer numbers rose by 9.59 percent from 11.06 million reported in Q4 2022.

 

Additionally, the report highlighted that metered customers in Q4 2023 stood at 5.61 million, indicating a slight decrease in growth rate compared to the previous quarter. However, on a year-on-year basis, metered customers grew by 9.38 percent from the figure reported in Q4 2022.

 

Estimated customers during the quarter under review decreased by 3.34 percent compared to Q3 2023, with a similar decline observed on a year-on-year basis.

 

Among the DISCOs, the Ibadan Electricity Distribution Company recorded the highest number of estimated bill customers, followed by the Enugu Electricity Distribution Company, Yola Electricity Distribution Company, Benin Electricity Distribution Company, and Kaduna Electricity Distribution Company.

 

The significant increase in revenue and electricity supply, coupled with the growth in customer numbers, reflects the ongoing efforts by DISCOs to improve service delivery and meet the growing demand for electricity in Nigeria’s dynamic energy landscape.


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