The total revenue generated by the 11 distribution companies (DisCos) stood t N247.33 billion in the first quarter of 2023.
According to the National Bureau of Statistics Electricity Report, the total number of customers for the period was 11.27 million from 11.06 million in Q4 2022, showing an increase of 1.89 percent. while on a year-on-year basis, customer numbers in Q1 2023 rose by 5.99 percent 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 percent from 5.13 million recorded in the preceding quarter.
Read also: Here are highest-paid female CEOs of listed Nigerian firms
According to te report, estimated customers during the quarter were 5.96 million in Q1 2023, higher by 0.40 percent from 5.93 million in Q4 2022.
Electricity supply was 5,852 (Gwh) in Q1 2023 from 5,611 (Gwh) in the previous quarter.
This is as the Nigerian Electricity Regulatory Commission (NERC) quarterly report showed that the DisCos recorded N170.62 billion loss in the last six months (June-Dec) of 2022.
According to NERC, the total revenue collected by all DisCos in 2022/Q4 was ₦243.65 billion out of ₦332.28 billion billed to customers, while for Q3, N210.67 billion was collected out of N291.66 billion that was billed.
For the Commission many customers continue to default in payment of their billed amounts in part due to a lack of willingness to pay (sometimes driven by unsatisfactory DisCo services).
“The Commission is concerned about the low billing efficiency reported by the DisCos and its impact on the financial sustainability of the NESI.
It however stated that the Commission is committed to working with DisCos to ensure that distribution losses are significantly reduced as part of the efforts
towards steering the industry to financial sustainability.
“This effort will hinge on reinforcement of DisCo infrastructure to reduce technical losses, improved consumer enumeration, customer service, improving metering systems, and implementation of steps that will drive timely bill payments and the rollout of initiatives to curb energy theft,” it stated.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
