Nigeria’s electricity distribution companies generated approximately N3.95 trillion in revenue from 2019 to Q1 2024, according to data from the National Bureau of Statistics (NBS), sourced from the Nigerian Electricity Regulatory Commission.
A detailed breakdown reveals consistent revenue growth over the years, with N482.6 billion in 2019, N526.8 billion in 2020, N761.2 billion in 2021, N828.1 billion in 2022, N1.07 trillion in 2023, and N291.6 billion in the first quarter of 2024.
Analysts from the Nigerian Electricity Supply Industry (NESI) attribute this upward trend to several factors, including ongoing tariff adjustments aimed at achieving cost-reflective pricing, which has enabled Discos to align their revenue with the cost of electricity provision.
Additionally, the National Mass Metering Programme (NMMP) has significantly increased the number of metered customers, reducing the reliance on estimated billing and improving the accuracy of revenue collection. The NMMP has also helped reduce Aggregate Technical, Commercial, and Collection (ATC&C) losses that have long plagued the sector.
Despite this revenue growth, Discos continue to face major challenges, such as high unpaid bills, electricity theft, infrastructure deficits, and energy losses.
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