DisCos collected N433.01bn from customers in Q2

The revenue of electricity Distribution Companies (DisCos) surged by 48 per cent in the second quarter of 2024, with analysis of data from the factsheet of the Nigerian Electricity Regulatory Commission (NERC) indicating DisCos collected N433.1 billion from the N546.94 billion it billed customers when compared to the N291.06bn in the first quarter of 2024. […]

The revenue of electricity Distribution Companies (DisCos) surged by 48 per cent in the second quarter of 2024, with analysis of data from the factsheet of the Nigerian Electricity Regulatory Commission (NERC) indicating DisCos collected N433.1 billion from the N546.94 billion it billed customers when compared to the N291.06bn in the first quarter of 2024.

A breakdown showed that the DisCos generated N142.92bn in April from N178.72bn billed, N139. 23bn was made in May from the N191.65bn billed to customers, while in June, the DisCos collected N150.86bn from N176.57bn.

Further breakdown indicated that the Ikeja DisCo had the highest revenue with N86.38bn, with N30.06bn collected; N26.92bn in May and N29.4bn in April. This was followed by Eko DisCo with N75.22bn, collecting N26.37bn in June, N23.92 in May and N24.93bn in April.

Abuja DisCo collected N70.18bn from N24.29bn billed in June, N22.97bn in May and N22.92 in April.

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Others are Ibadan DisCo collecting N44.24bn; N15.02 in June, N14.72 in May and N14.5 in April; Benin DisCo collected N33.95bn in total; N12.27bn in June, N10.65bn in May and N11.03  in April. Port Harcourt DisCo made N32.59bn; N11.46bn in June, N10.35bn in May and N10.78bn in April.

Enugu DisCo N30.38bn; N11.11bn in June, N10.18bn in May, N9.09bn. Kano DisCo N21.9bn; N8.41bn in June, N6.83bn in May, N6.66 in April. Jos DisCo collected N15.72bn; N4.96bn in June, N4.71bn and N6.05bn. Kaduna DisCo collected N14.69bn; N5.01bn in June, N4.67bn and N5.01bn. The least is Yola DisCo with N4.78bn, N1.87bn in June, N1.81bn in May and N1.1bn in April.

Daily Trust reports that the increase in DisCos’ revenue was due to the increase in electricity tariff of Band A customers in April from N66 to N225 kilowatts per hour.

Meanwhile, the Minister of Power, Chief Adebayo Adelabu, disclosed the readiness of the federal government to achieve universal energy access by the year 2060.

To this end, Adelabu said that the government was working with relevant stakeholders across the board to realise the objective.