On Sunday, June 23, the National Bureau of Statistics (NBS) announced in report, that the Nigerian distribution companies (DisCos) for electricity had a 17.91 percent rise in overall income in the first quarter (Q1) of 2024, amounting to N291.62 billion, as opposed to N247.33 billion in Q1 of 2023.
According to the report, energy supply has declined during the review period, falling from 6,432.22 gigawatts per hour (Gwh) in Q4 2023 to 5,769.52 (Gwh) in Q1 2024.
However, the NBS reported, on an annual basis, energy supply decreased by 1.41 percent compared to 5,851.87 (Gwh) reported in Q1 last year, while the revenue generated in the reference period rose by 17.91% from N247.33 billion recorded in 2023.
The DisCos received a total revenue of N291.62 billion from N294.95 billion during the fourth quarter of 2023.
Also, the total number of customers rose to 12.33 million in Q1 up from 12.12 million in Q4 2023 reflecting a 1.78 percent growth.
“The Ikeja Electricity Distribution Company (IEDC) recorded the highest revenue of N57.87 billion in Q1 from N59.75 billion in Q4 last year while the Abuja Electricity Distribution Company (AEDC) seconded the list with N48.60 billion, and followed by Eko Electricity Distribution Company (EKDC) which raked in N48.74 billion,” said the NBS.
The bureau also said estimated billing customers during the quarter under review were 6.43 million, showing an increase of 10.22 percent compared to 5.83 million in Q4 2023.
According to the NBS report, Ibadan Electricity Distribution Company (IBEDC) had the most estimated billing customers (1.41 million), followed by Enugu Electricity Distribution Company (765,662), Yola Electricity Distribution Company (690,604), Benin Electricity Distribution Company (688,081), and Kaduna Electricity Distribution Company (639,395).
