CEM REPORT, POWER | Power Distribution Companies (Discos) in Nigeria recorded a collective revenue generation of N393.15 billion in the first half of the year (H1’22).
This is as power supply fell from 5,956 (Gwh) to 5,227 (Gwh) between the first quarter and second quarter of 2022. Representing a decline of 12.23 per cent on a quarter-on-quarter basis when compared to 6,172.19 (Gwh) and 5,882.57 (Gwh) reported in Q1 2021 and Q2 2021 respectively.
This is according to data from the National Bureau of Statistics (NBS) in its latest report titled, “Electricity Report Q1-Q2 2022.”
Despite the fall in supply, DisCos pull in a whooping N204.74 billion in Q1, 2022 and N188.41 billion in Q2 2022.
Although the data revealed that on a quarter-on-quarter basis the recorded revenue is a 7.97 percent decline, however, it is an 11.42 percent and 1.71 percent increase from N183.74 billion in Q1, 2021 and N185.24 billion in Q2, 2021.
The NBS data further revealed that the total number of electricity customers rose in Q1’22 to 10.63 million and 10.81 million in Q2’22, indicating a 1.67 percent growth quarter-on-quarter.
However, on a year-on-year basis, customers in Q1 2022 declined by 1.36 per cent from Q1 2021 (10.78 million), and also fell in Q2, 2022 by 2.27 per cent from Q2 2021 (11.06million).
Additional, metered customers stood at 4.79 million in Q1 2022 and 4.96 million in Q2 2022, indicating a 3.53 per cent increase on a quarter-on-quarter basis.
Similarly, on a year-on-year basis, there were growth rates of 10.71 per cent and 9.54 per cent in Q1 and Q2, 2022, respectively, when compared to 4.33 million recorded in Q1 2021 and 4.53 million in Q2 2021.
Furthermore, estimated customers stood at 5.84 million in Q1’22 and 5.85 million in Q2’22, indicative of an increase of 0.14 percent on a quarter-on-quarter basis.
While on a year-on-year basis, estimated customers declined by 9.45 percent in Q1, 2022, and 10.45 percent in Q2, 2022 when compared to 6.45 million in Q1, 2021 and 6.53 million in Q2, 2021.
Despite the reduced supply of power, revenue generation by Discos stood at N204.74 billion in Q1, 2022 and N188.41 billion in Q2 2022, although it showed a fall on a quarter-on-quarter basis of 7.97 per cent.
The report added that on a year-on-year basis, revenue collected rose by 11.42 per cent and 1.71 per cent, respectively, from N183.74 billion in Q1, 2021 and N185.24 billion in Q2, 2021.
The NBS data further showed that the total number of electricity customers rose in Q1, 2022 standing at 10.63 million and 10.81 million in Q2, 2022, showing a rise of 1.67 per cent on a quarter-on-quarter basis.
But on a year-on-year basis, customers in Q1 2022 declined by 1.36 per cent from Q1 2021 (10.78 million), and also fell in Q2, 2022 by 2.27 per cent from Q2 2021 (11.06million), the report said.
In addition, metered customers stood at 4.79 million in Q1 2022 and 4.96 million in Q2 2022, indicating a 3.53 per cent increase on a quarter-on-quarter basis.
In the same vein, on a year-on-year basis, there were growth rates of 10.71 per cent and 9.54 per cent in Q1 and Q2, 2022, respectively, when compared to 4.33 million recorded in Q1 2021 and 4.53 million in Q2 2021.
The marginal increase in the number of Nigerians who owned meters might be attributable to the current national mass-metering programme embarked upon by the federal government over a year ago.
Similarly, estimated customers stood at 5.84 million in Q1, 2022 and 5.85 million in Q2, 2022, showing an increase of 0.14 per cent on a quarter-on-quarter basis.
On a year-on-year basis, estimated customers declined by 9.45 per cent in Q1, 2022, and 10.45 per cent in Q2, 2022 when compared to 6.45 million in Q1, 2021 and 6.53 million in Q2, 2021.
Many Nigerians depend on private generating sets to provide their own electricity, which may account for the decline in the rate of growth of customers since the national grid is largely unreliable.
