• Tuesday, April 16, 2024
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Eleven DisCos revenue jumps by N15.7 billion in Q2, 2023

The eleven electricity distribution companies (DisCos) earned a total of N263.08 billion in the second quarter of 2023, this is an increase of N15.7 billion compared N247.33 billion earned in the first quarter.

According to the National Bureau of Statistics report, on a year-on-year basis, revenue generated in the reference period rose by 39.63 percent from N188.41 billion recorded in Q2 2022.

Electricity supply in the period under review was 5,909.83 (Gwh), from 5,851.87 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 13.06 percent compared to 5,226.97 (Gwh) reported in Q2 2022.

The report indicated that the total number of registered customers were 11.47 million, which is a 1.84 percent increase from 11.27 million in Q1 2023. On a year-on-year basis, the number of customers rose by 6.17 percent from 10.81 million reported in Q2 2022.

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“Similarly, metered customers stood at 5.47 million in Q2 2023, indicating a growth of 3.10 percent from 5.31 million recorded in the preceding quarter. On a year-on-year basis, this grew by 10.40 percent from the figure reported in Q2 2022 which was 4.96 million.

“In addition, estimated customers during the quarter were 6.00 million, higher by 0.72 percent from 5.96 million in Q1 2023. On a year-on-year basis, estimated customers increased by 2.58 percent in Q2 2023 from 5.85 million in Q2 2022,” the Bureau stated.

A breakdown of the report showed that Ibadan DisCo had the highest number of metered customers (980,296) in the period, followed by Ikeja (847,700) and Abuja (807,548). While Yola had the least number of metered customers (113,497).

Also, Ibadan DisCo topped states with highest customers under estimated billing (1,339,289), this is followed by Enugu (694,292) and Benin (643,916).