MON OCT 14 2024-theGBJournal| The Revenue of Electricity distribution companies (DISCOs) in Nigeria rose by 48.90% to N391.72 billion from N263.08 billion recorded in Q2 2023, according to data provided by the Nigerian Electricity Regulatory Commission (NERC) and reported by the National Bureau of Statistics (NBS).
However, electricity supply was 5,612.52 (Gwh) in Q2 2024 from 5,769.52 (Gwh) in the previous quarter. On a year-on-year basis, electricity supply fell by 5.03% compared to 5,909.83 (Gwh) reported in Q2 2023.
The rise is a reflection of the growing customers base as witnessed during the period.
Estimated customers in Q2 2024 were 7.07 million, higher by 10.04% from 6.43 million in Q1 2024.
On a year-on-year basis, estimated customers increased by 17.86% in Q2 2024 from 6.00 million in Q2 2023. Revenue collected by the DISCOs during the period was N391.72 billion from N291.62 billion in Q1 2024.
Meanwhile, the total customer numbers in Q2 2024 stood at 12.99 million from 12.33 million in Q1 2024, showing an increase of 5.35%. On a year-on-year basis, customer numbers in Q2 2024 rose by 13.24% from 11.47 million reported in Q2 2023.
Similarly, metered customers stood at 5.92 million in Q2 2024, indicating a growth of 0.25% from 5.91 million recorded in the preceding quarter.
On a year-on-year basis, this grew by 8.18% from the figure reported in Q2 2023 which was 5.47 million.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
