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Reading: DisCos raked in N247.33bn revenue in Q1 2023 -NBS
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Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports. > Blog > Business > DisCos raked in N247.33bn revenue in Q1 2023 -NBS
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DisCos raked in N247.33bn revenue in Q1 2023 -NBS

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Last updated: September 9, 2023 6:33 pm
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3 years ago
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Data from the National Bureau of Statistics (NBS) has revealed that there was a slight increase in the number of total number of customers in the second quarter of 2023 with the number moving to 11.47 million from 11.27 million in the first quarter of 2023, indicting a 1.84 per cent increase.

In its Nigeria Electricity Report Q2 2023: Energy Billed, Revenue Generated and Customers By DISCOS, the bureau stated that 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. 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,” it said.

The coordinating agency for all statistics in Nigeria added that revenue collected by the DISCOs in Q2 was N263.08 billion from N247.33 billion in Q1 2023.

“On a year-on-year basis, revenue generated in the reference period rose by 39.63% from N188.41 billion recorded 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,” it said.  

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TAGGED:DISCOSelectricity distributionelectricity revenueenergy industryfinancial performanceNBSpower sectorQ1 2023Revenue
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