Electricity Distribution Companies See 17% Revenue Increase in Q1 2024

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**The eleven electricity distribution companies (DisCos) in Nigeria reported a 17% increase in revenue, rising from N247.33 billion in Q1 2023 to N291.62 billion in Q1 2024, according to a report by the National Bureau of Statistics (NBS).**

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However, this total revenue represents a slight decrease compared to the N294.95 billion recorded in Q4 2023.

The NBS report highlights that Ikeja Electricity Distribution Company (IEDC) generated the highest revenue during this period at N57.87 billion. Following IEDC, Abuja Electricity Distribution Company (AEDC) and Eko Electricity Distribution Company (EKDC) recorded revenues of N48.60 billion and N48.74 billion, respectively.

Other notable revenues were generated by:
– Ibadan DisCo: N30.3 billion
– Benin DisCo: N22 billion
– Enugu DisCo: N21 billion
– Port Harcourt DisCo: N20 billion
– Jos and Kano DisCos: N13 billion each
– Kaduna DisCo: N9.6 billion
– Yola DisCo: N5.4 billion (the least revenue)

In related statistics, the total number of electricity customers in Q1 2024 stood at 12,333,999, with 5,907,644 metered customers, indicating over 6 million non-metered customers.

“Total customer numbers in Q1 2024 stood at 12.33 million, up from 12.12 million in Q4 2023, reflecting a 1.78% increase. Year-on-year, customer numbers in Q1 2024 rose by 9.47% from 11.27 million in Q1 2023.

“Similarly, the number of metered customers reached 5.91 million in Q1 2024, a 5.38% increase from 5.61 million in Q4 2023. On a year-on-year basis, this figure grew by 11.26% from 5.31 million in Q1 2023.

“In addition, estimated customers during the quarter were 6.43 million, up by 10.22% from 5.83 million in Q4 2023. Year-on-year, estimated customers increased by 7.88% from 5.96 million in Q1 2023.”

The report also indicated that total electricity supplied and billed dropped to 5,769 GWh from 6,432.22 GWh in Q4 2023.

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