Data from the Nigerian National Bureau of Statistics (NBS) indicated that the country’s total number of electricity customers has 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.
Metered customers grew by 5.38% from the previous quarter, totaling 5.91 million in Q1 2024. Year-on-year, the growth was 11.26%. Estimated customers increased by 10.22% from Q4 2023 to Q1 2024, and 7.88% year-on-year.
Analysis by Energy Afrique on the report also revealed that the Distribution Companies’ (DISCOs) revenue was N291.62 billion in Q1 2024, a slight decrease from N294.95 billion in Q4 2023. However, this marks a significant year-on-year increase of 17.91% from N247.33 billion in Q1 2023.
While on electricity, the total supply in Q1 2024 was 5,769.52 GWh, down from 6,432.22 GWh in the previous quarter, representing a quarter-on-quarter decline. Year-on-year, supply decreased by 1.41% from 5,851.87 GWh in Q1 2023.
The data by the NBS further suggest that the performance among the DISCOs varied. For instance, Ikeja Electric (IEDC) collected the highest revenue at N57.88 billion, while Yola Electricity Distribution Company (YEDC) collected the least at N5.46 billion. In terms of energy billed, Ikeja Electric also billed the highest at 908 GWh, while Yola billed the least at 183 GWh.
