Nigeria’s DisCos generated N434 billion in Q3, Q4 2022 – Report
The Electricity Distribution Companies (DisCos) operating in Nigeria’s electricity supply industry generated N434.94 billion in revenue in the third and fourth quarters of 2022, data obtained from the National Bureau of Statistics (NBS) has shown.
The bureau revealed this in its “Nigeria Electricity Report”, detailing revenue generated by DisCos in the third and fourth quarters of 2022, released on Monday.
The NBS said in terms of revenue, N232.32 billion was generated by the DisCos in Q4 2022 compared to N202.62 billion in Q3 2022.
The figures show that the distribution companies generated a sum of N434.94 billion in total for both quarters.
The NBS said the revenue collected in the fourth quarter of 2022 rose by 16.02 per cent from N200.23 billion in Q4 2021. It added that the electricity supply in Q4 2022 stood at 5,611 (Gwh) from 5,024 (Gwh) in Q3 2022, showing a rise of 11.68 per cent.
“On a year-on-year basis, electricity supply declined by 3.48 per cent compared to Q4 2021,” it said.
In addition, the NBS said the total customer numbers in Q4 2022 stood at 11.06 million from 10.94 million in Q3 2022, showing an increase of 1.10 per cent.
“On a year-on-year basis, customer numbers in Q4 2022 rose by 5.17 per cent from Q4 2021 (10.51 million).
“Metered customers during the period stood at 5.13 million from 5.02 million in Q3 2022, indicating a 2.00 per cent growth rate.
“Nevertheless, on a year-on-year basis, this grew by 7.37 per cent from 4.77 million in Q4 2021,” the report said.
Estimated Customers
According to the report, the number of estimated customers was 5.93 million in Q4 2022, higher by 0.34 per cent from the 5.91 million reported in Q3 2022. On a year-on-year basis, the statistics office said this rose by 3.34 per cent in Q4 2022 from the figure reported in Q4 2021.
The NBS also noted that the total customer numbers in Q3 2022 stood at 10.94 million from 10.81 million in Q2 2022, showing a rise of 1.20 per cent. On a year-on-year basis, it added that customer numbers in Q3 2022 declined by 1.19 per cent from Q3 2021 (11.07 million).
READ ALSO: Nigeria’s foreign trade grew 10.43% in 2021 third quarter — NBS
In Q3 2022, the NBS explained that metered customers stood at 5.02 million from 4.96 million in Q2 2022, indicating a 1.33 per cent increase. However, the report said on a year-on-year basis, this grew by 5.71 per cent from the figure reported in Q3 2021 which was 4.75 million.
Similarly, the report said estimated customers stood at 5.91 million in Q3 2022, higher by 1.09 per cent from 5.85 million in Q2 2022. On a year-on-year basis, estimated customers declined by 6.38 per cent in Q3 2022 from 6.32 million in Q3 2021.
“Revenue collected by the DISCOs during the period stood at N202.62 billion in Q3 2022 from N188.41 billion in Q2 2022, showing a rise of 7.54 per cent.
“On a year-on-year basis, revenue generated rose by 5.56 per cent from N191.95 billion in Q3 2021.
“Electricity supply in Q3 2022 stood at 5,024 (Gwh) from 5,227 (Gwh) in the previous quarter. On a year-on-year basis, electricity supply declined by 8.53 per cent compared to 5,493 (Gwh) reported in Q3 2021,” the report said.
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The Electricity Distribution Companies (DisCos) operating in Nigeria’s electricity supply industry generated N434.94 billion in revenue in the third and fourth quarters of 2022, data obtained from the National Bureau of Statistics (NBS) has shown.
The bureau revealed this in its “Nigeria Electricity Report”, detailing revenue generated by DisCos in the third and fourth quarters of 2022, released on Monday.
The NBS said in terms of revenue, N232.32 billion was generated by the DisCos in Q4 2022 compared to N202.62 billion in Q3 2022.
The figures show that the distribution companies generated a sum of N434.94 billion in total for both quarters.
The NBS said the revenue collected in the fourth quarter of 2022 rose by 16.02 per cent from N200.23 billion in Q4 2021. It added that the electricity supply in Q4 2022 stood at 5,611 (Gwh) from 5,024 (Gwh) in Q3 2022, showing a rise of 11.68 per cent.
“On a year-on-year basis, electricity supply declined by 3.48 per cent compared to Q4 2021,” it said.
In addition, the NBS said the total customer numbers in Q4 2022 stood at 11.06 million from 10.94 million in Q3 2022, showing an increase of 1.10 per cent.
“On a year-on-year basis, customer numbers in Q4 2022 rose by 5.17 per cent from Q4 2021 (10.51 million).
“Metered customers during the period stood at 5.13 million from 5.02 million in Q3 2022, indicating a 2.00 per cent growth rate.
“Nevertheless, on a year-on-year basis, this grew by 7.37 per cent from 4.77 million in Q4 2021,” the report said.
Estimated Customers
According to the report, the number of estimated customers was 5.93 million in Q4 2022, higher by 0.34 per cent from the 5.91 million reported in Q3 2022. On a year-on-year basis, the statistics office said this rose by 3.34 per cent in Q4 2022 from the figure reported in Q4 2021.
The NBS also noted that the total customer numbers in Q3 2022 stood at 10.94 million from 10.81 million in Q2 2022, showing a rise of 1.20 per cent. On a year-on-year basis, it added that customer numbers in Q3 2022 declined by 1.19 per cent from Q3 2021 (11.07 million).
READ ALSO: Nigeria’s foreign trade grew 10.43% in 2021 third quarter — NBS
In Q3 2022, the NBS explained that metered customers stood at 5.02 million from 4.96 million in Q2 2022, indicating a 1.33 per cent increase. However, the report said on a year-on-year basis, this grew by 5.71 per cent from the figure reported in Q3 2021 which was 4.75 million.
Similarly, the report said estimated customers stood at 5.91 million in Q3 2022, higher by 1.09 per cent from 5.85 million in Q2 2022. On a year-on-year basis, estimated customers declined by 6.38 per cent in Q3 2022 from 6.32 million in Q3 2021.
“Revenue collected by the DISCOs during the period stood at N202.62 billion in Q3 2022 from N188.41 billion in Q2 2022, showing a rise of 7.54 per cent.
“On a year-on-year basis, revenue generated rose by 5.56 per cent from N191.95 billion in Q3 2021.
“Electricity supply in Q3 2022 stood at 5,024 (Gwh) from 5,227 (Gwh) in the previous quarter. On a year-on-year basis, electricity supply declined by 8.53 per cent compared to 5,493 (Gwh) reported in Q3 2021,” the report said.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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