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

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.