Electricity Discos Report 13.37% Revenue Surge in Q4 2023

According to the most recent National Bureau of Statistics (NBS) data, Nigerian power distribution companies saw a significant increase in income in the fourth quarter of 2023.

According to the study, electricity distribution firms (Discos) collected N294.95 billion in sales, up 13.37% from N260.16 billion in Q3 2023.

When compared to the same period last year, revenue growth is even more obvious, with a spectacular 26.96% increase from N232.32 billion in the fourth quarter of 2022.

The income increase was attributed to a total of 12.11 million users, with about 5.60 million metered and 5.83 million unmetered and billed by estimation.

In terms of client base, there was a significant increase year on year, with customer counts in Q4 2023 growing by 9.59% from 11.06 million reported in Q4 2022.

However, the number of metered users fell 1.32% from the previous quarter, reaching 5.61 million.

However, on an annual basis, there was a 9.38% rise from the 5.13 million metered users recorded in Q4 2022.

In contrast, the number of estimated customers decreased by 3.34% from the third quarter of 2023, reaching 5.83 million.

On a year-over-year basis, the expected customer count fell 1.73% in Q4 2023, from 5.93 million in Q4 2022.

The electricity supply also increased significantly in the fourth quarter of 2023, hitting 6,432 gigawatt-hours (GWh), up from 5,732 GWh in the previous quarter.

Annually, this was a 14.64% rise from 5,611 GWh in the fourth quarter of 2022.

Ikeja Discos led in energy supply with 1,070 GWh, followed by Eko Disco at 934 GWh and Abuja Disco at 884 GWh.

Conversely, Jos, Yola, and Kaduna Discos reported the lowest supply figures at 338 GWh, 253 GWh, and 242 GWh, respectively.

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