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DISCOs’ Revenue Hits N263.08 Billion in Q2 2023

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DisCos Staff

CEM REPORT, ENERGY | Revenue collected by Electricity Distribution Companies (DISCOs) hit N263.08 billion in Q2 2023, Nigerian Bureau of Statistics has said.

According to report by NBS, this is an annual increase of 39.63% from N188.41 billion recorded in Q2 2022 and 5.98% from N247.33 billion in Q1 2023.

Ikeja Electricity Distribution Company, IKEDC recorded the highest revenue of N52.295 billion followed by Eko Electricity Distribution Company (EKEDC) with N43.226 billion both covering the Lagos metropolis, the commercial nerve of Nigeria.

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Abuja Electricity Distribution Company (AEDC) followed third with N43.079 billion while Ibadan Electricity Distribution Company (IBEDC) collected N27.411 billion. Enugu Electricity Distribution Company (EEDC) and Benin Electricity Distribution Company (BEDC) collected N27.411 billion and N20.680 respectively.

The sum of N18.857 billion, N10.242 billion and N8.001 billion was collect as revenue by Port Harcourt Electricity Distribution Company (PEDC), Jos Electricity Distribution Company (JEDC) and Kaduna Electricity Distribution Companies (KDEDC) respectively. Yola Electricity Distribution Company (YEDC) came last with N5.069 billion in Q2 2023.

Total customer numbers in Q2 2023 stood at 11.47 million from 11.27 million in Q1 2023, showing an increase of 1.84%. On a year-on-year basis, customer numbers in Q2 2023 rose by 6.17% from 10.81 million reported in Q2 2022. Similarly, metered customers stood at 5.47 million in Q2 2023, indicating a growth of 3.10% from 5.31 million recorded in the preceding quarter. On a year-on-year basis, this grew by 10.40% from the figure reported in Q2 2022 which was 4.96 million.

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In addition, estimated customers during the quarter were 6.00 million, higher by 0.72% from 5.96 million in Q1 2023. On a year-on-year basis, estimated customers increased by 2.58% in Q2 2023 from 5.85 million in Q2 2022.

Electricity supply was 5,909.83 (Gwh) in Q2 2023 from 5,851.87 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 13.06% compared to 5,226.97 (Gwh) reported in Q2 2022.

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