DisCos’ Revenue Generation Declines To N291.62Bn In Q1, 2024 -NBS

By Sunday Etuka, Abuja

The total revenue generated by the electricity Distribution Companies (DisCos) operating in the country declined to N291.62 billion in Q1, 2024 from the N294.95 billion recorded in the fourth quarter of 2023.

This was contained in the Electricity Report for Q1, 2024 recently released by the National Bureau of Statistics (NBS).

NBS, however, disclosed that on a year-on-year basis, the revenue generated in the reference period rose by 17.91% from N247.33 billion recorded in Q1, 2023.

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The Bureau said, the electricity supply was 5,769.52 (Gwh) in Q1 2024 from 6,432.22 (Gwh) in the previous quarter.

However, on a year-on-year basis, it said, the electricity supply decreased by 1.41% compared to 5,851.87 (Gwh) reported in Q1 2023.

According to the NBS report, total customer numbers in Q1 2024 stood at 12.33 million from 12.12 million in Q4 2023, showing an increase of 1.78%.

The Bureau said, on a year-on-year basis, customer numbers in Q1 2024 rose by 9.47% from 11.27 million reported in Q1 2023.

Similarly, it said, metered customers stood at 5.91 million in Q1 2024, indicating a growth of 5.38% from 5.61 million recorded in the preceding quarter.

NBS said, on a year-on-year basis, this grew by 11.26% from the figure reported in Q1 2023, which was 5.31 million.

In addition, it said, estimated customers during the quarter were 6.43 million, higher by 10.22% from 5.83 million in Q4 2023.

While on a year-on-year basis, estimated customers increased by 7.88% in Q1 2024 from 5.96 million in Q1 2023.

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