The electricity Distribution Companies (DISCOs) have collectively generated revenue of N291.62 billion in the first three months of 2024.
The National Bureau of Statistics (NBS) data for Q1 comprising January, February and March 2024 show that the total revenue collected by the DISCOs was a slight decrease from N294.95 billion in Q4 2023.
The report, released in June by the Nigerian Electricity Regulatory Commission (NERC) and published by the NBS revealed that the year-on-year revenue had an increase of 17.91% from N247.33 billion in Q1 2023.
On electricity supply, all 11 DisCos supplied 5,769.52 GWh (Gigawatt hours), down from 6,432.22 GWh in the previous quarter while year-on-year supply also decreased by 1.41% from 5,851.87 GWh in Q1 2023.
The total number of electricity customers increased by 1.78% from Q4 2023 to Q1 2024, reaching 12.33 million and 9.47% up from 11.27 million in Q1 2023.
Performance Metrics
A key finding of the report is the contrast in energy distribution and revenue collection among different DISCOs. Ikeja Electric Distribution Company (IEDC) in the South and Abuja Electricity Distribution Company (AEDC) in the FCT emerged as top performers, recording the highest revenues in the first quarter of 2024.
In contrast, Yola Electricity Distribution Company (YEDC) and Kaduna Electric Distribution Company (KDEDC) both in Northern Nigeria ranked among the lowest in energy distribution and revenue collection.
However, WikkiTimes gathered that within Q1 2024, Nigeria has experienced at least three national grid collapses.
The most recent collapse occurred on April 15, 2024, causing widespread blackouts across the country added to the persistent challenges faced by Nigeria’s power sector. The first major grid collapse in 2024 occurred on February 4, 2024, causing widespread power outages across the country. Also, on March 28, 2024, another grid collapse took place at approximately 4:28 PM, leading to a nationwide blackout.
Northeast Suffer Most
On April 23, TCN said four of its towers along the Jos–Gombe 330 kilo volt (kV) transmission line were vandalised — affecting electricity supply to Gombe, Damaturu, Maiduguri, Yola, Bauchi, and Jalingo.
On May 28, the Transmission Company of Nigeria (TCN) announced that three additional towers had been vandalised in Borno State along the Biu – Danbua 132kV transmission line, as 16 spans of conductors were stolen, a development that further worsened the blackout in the region.
In Northern Nigerian States, Poor Electricity Affect Businesses, Increases Cost of Living
TCN had also admitted that the blackout which persisted for over a month affected several businesses and also governance activities.
Wikkitimes has reported how the epileptic power supply in the Northern States affected businesses and the cost of living and exacerbated the socioeconomic bruises the region is facing.
In April, the NERC ordered the immediate upward review of electricity tariffs and also increased bills on Band A customers.
Meanwhile, the DisCos had earlier today (July 3, 2024), announced the upward review of electricity tariffs for Band A customers taking effect from 1 July.
