Revenue collection by electricity Distribution Companies increased to N291.62 billion in the first quarter of 2024 from N294.95 billion in Q4 2023, the National Bureau of Statistics (NBS) has said.

In its Nigeria Electricity Report Q1 2024: Energy Billed, Revenue Generated And Customers By DISCOS report, the Bureau stated that “On a year-on-year basis, revenue generated in the reference period rose by 17.91% from N247.33 billion recorded in Q1 2023.”

The statistics bureau further said that metered customers stood at 5.91 million in Q1 2024, indicating a growth of 5.38 per cent from 5.61 million recorded in the preceding quarter.

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

The NBS noted that despite the directive by the Nigeria Electricity Regulatory Commission (NERC) to DisCos to meter their customers, the number of those on estimated billing increased by 10.22 per cent to 6.43 million in Q1, from 5.83 million in Q4 2023.

“On a year-on-year basis, estimated customers increased by 7.88% in Q1 2024 from 5.96 million in Q1 2023,” it added.

The report further stated that total customer numbers in Q1 2024 stood at 12.33 million from 12.12 million in Q4 2023, showing an increase of 1.78 per cent.

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

“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, electricity supply decreased by 1.41% compared to 5,851.87 (Gwh) reported in Q1 2023,” the NBS stated.