Nigerian DISCOs Generate N294.95 Billion in Q4 2023, NBS Report Reveals

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The latest report from the National Bureau of Statistics (NBS) has revealed that Electricity Distribution Companies (DISCOs) in Nigeria generated a total revenue of N294.95 billion in the fourth quarter (Q4) of 2023. This marks a significant increase of 26.96% compared to the N232.32 billion recorded in Q4 2022.

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According to the report, revenue collected by the DISCOs during the period surged from N260.16 billion in Q3 2023 to N294.95 billion. Electricity supply also saw an uptick, reaching 6,432 Gwh in Q4 2023 from 5,732 Gwh in the previous quarter, representing a 14.64% increase year-on-year compared to Q4 2022.

The total number of customers served by DISCOs in Q4 2023 stood at 12.12 million, up from 11.71 million in Q3 2023, indicating a 3.46% increase. Year-on-year, customer numbers rose by 9.59% from 11.06 million in Q4 2022.

Metered customers in Q4 2023 were reported at 5.61 million, showing a slight decrease in growth rate of 1.32% from the previous quarter. However, on a year-on-year basis, metered customers increased by 9.38% from the figure reported in Q4 2022.

The report also highlighted a decrease in estimated customers during the quarter, totaling 5.83 million, down by 3.34% compared to Q3 2023. Similarly, estimated customers decreased by 1.73% year-on-year in Q4 2023 from 5.93 million in Q4 2022.

Among the DISCOs, the Ibadan Electricity Distribution Company recorded the highest number of estimated bill customers at 1.36 million, followed by the Enugu Electricity Distribution Company (709,104), Yola Electricity Distribution Company (688,164), Benin Electricity Distribution Company (676,324), and Kaduna Electricity Distribution Company (636,593).

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