The National Bureau of Statistics (NBS) reports a 20.81% increase in revenue generated by electricity distribution companies (Discos) in the first quarter of 2023, despite a 1.74% decline in supply. According to the NBS Electricity Report, Discos collected N247.33bn in Q1 2023, surpassing the N204.74bn recorded in Q1 2022. However, electricity supply decreased from 5,956 GWh in Q1 2022 to 5,852 GWh in Q1 2023. The report also highlights that Discos collected N232.32bn in Q4 2022, resulting in a total revenue of N479.65bn over a six-month period.
According to the report, revenue collected by the Discos in Q1 2023 amounted to N247.33bn, compared to N232.32bn in Q4 2022. This represents a year-on-year increase of 20.81% from the N204.74bn recorded in Q1 2022.
Regarding electricity supply, it reached 5,852 GWh in Q1 2023, up from 5,611 GWh in the previous quarter. However, there was a 1.74% decline in electricity supply compared to Q1 2022, which reported 5,956 GWh.
The report also highlighted a growth in the total number of customers, with a recorded total of 11.27 million in Q1 2023.
The report further revealed that the total number of customers increased to 11.27 million in Q1 2023, marking a 1.89% growth from 11.06 million in Q4 2022. On a year-on-year basis, customer numbers in Q1 2023 experienced a 5.99% rise compared to 10.63 million reported in Q1 2022.
In terms of metered customers, Q1 2023 recorded a total of 5.31 million, reflecting a 3.61% increase from the 5.13 million recorded in the previous quarter. Year-on-year, this represented a growth of 10.86% compared to 4.79 million in Q1 2022.
The report also indicated that there were an estimated 5.96 million customers in Q1 2023, a slight increase of 0.40% from 5.93 million in Q4 2022. On a year-on-year basis, estimated customers grew by 1.99% in Q1 2023 compared to 5.84 million in Q1 2022.
Regarding the distribution companies, the Ibadan Electricity Distribution Company had the highest number of customers, totaling approximately 2.23 million. It was followed by Abuja Electricity Distribution Company with 1.32 million customers and Enugu Electricity Distribution Company with 1.23 million customers.
In terms of revenue, the Ikeja Electricity Distribution Company, with a customer base of 1.07 million, generated the highest revenue of N49.76 million. The Eko Electricity Distribution Company, with approximately 666,941 customers, recorded a revenue of N41.73 million. Following them is the Abuja Electricity Distribution Company, which generated a revenue of N38.12 million in Q1 2023.
