DisCos collect N291.62bn revenue Q1,2024
By Patience Ikpeme
Electricity Distribution Companies (DISCOs) in Nigeria collected N291.62 billion revenue in the first quarter of 2024, lower than N294.95 billion collected in Q4 2023, National Bureau of Statistics’ (NBS) electricity data for the first quarter,2024 showed.
Analyzed on a year-on-year basis, NBS data showed revenue generated in the reference period rose by 17.91% from N247.33 billion recorded in Q1 2023.
In terms of electricity supply, it was 5,769.52 (Gwh) in Q1 2024 from 6,432.22 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply decreased by 1.41% compared to 5,851.87 (Gwh) reported in Q1 2023.
The total number of Discos’ customers on a year-on-year basis, in Q1 2024 rose by 9.47% from 11.27 million reported in Q1 2023. Similarly, metered customers stood at 5.91 million in Q1 2024, indicating a growth of 5.38% from 5.61 million recorded in the preceding quarter.
On a year-on-year basis, this grew by 11.26% from the figure reported in Q1 2023 which was 5.31 million.
In addition, estimated customers during the quarter were 6.43 million, higher by 10.22% from 5.83 million in Q4 2023. On a year-on-year basis, estimated customers increased by 7.88% in Q1 2024 from 5.96 million in Q1 2023.
