Nigeria’s DISCOs report N263 billion revenue in Q2, 2023

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Nigeria's DISCOs report N263 billion revenue in Q2, 2023
Nigeria's DISCOs report N263 billion revenue in Q2, 2023

The Nigeria electricity sector’s second-quarter report indicates that electricity distribution companies (DISCOs) recorded a revenue collection of N263.08 billion, marking a 6.34% increase from the N247 billion generated in the previous quarter.

Compared to the same quarter in 2022, DISCO revenue saw a significant growth of 39.6% from N188.4 billion.

Regarding customer numbers, the sector reported a total of 11.47 million customers in Q2 2023, representing a modest increase of 1.84% from the 11.27 million recorded in the first quarter of 2023.

Customers and electricity supply in Q2 2023

On a year-on-year basis, customer numbers experienced substantial growth, rising by 6.17% from 10.81 million in Q2 2022.

Metered customers, a crucial segment of the electricity consumer base, reached 5.47 million in Q2 2023, marking a significant increase of 3.10% compared to the 5.31 million in the previous quarter.

Year-on-year, metered customers exhibited impressive growth, with a 10.40% increase from Q2 2022’s figure of 4.96 million.

During the quarter, estimated customers numbered 6.00 million, showing a slight increase of 0.72% compared to the 5.96 million in Q1 2023.

On a year-on-year basis, estimated customers increased by 2.58% in Q2 2023 from the 5.85 million reported in Q2 2022.

In terms of electricity supply, Q2 2023 saw a total supply of 5,909.83 gigawatt-hours (Gwh), a slight increase from the 5,851.87 Gwh in the previous quarter.

However, when comparing year-on-year figures, there was a substantial 13.06% increase in electricity supply in Q2 2023 compared to the 5,226.97 Gwh reported in Q2 2022, indicating efforts to enhance power generation and distribution.