NBS: DisCos’ Revenue Rose By 17% To N291bn In Q1 2024

The National Bureau of Statistics (NBS) reported that Nigeria’s electricity distribution firms (DisCos) earned N291.62 billion in the first quarter (Q1) of 2024.

NBS’s newest report on power for Q1 2024, released on Sunday, June 23, also stated that electricity supply decreased during the time under review.

DisCos’ revenue increased by 17.91 per cent compared to the N247.33 billion recorded in the first quarter of 2023, according to the agency.

According to the bureau, power supply fell from 6,432.22 gigawatts per hour (Gwh) in Q4 2023 to 5,769.52 (Gwh) in Q1 2024, while year on year, energy supply fell by 1.41 per cent compared to 5,851.87 (Gwh) reported in Q1 2023, NBS said.

“Revenue collected by the DisCos during the period was N291.62 billion from N294.95 billion in Q4 2023, “ the report reads.“On a year-on-year basis, revenue generated in the reference period rose by 17.91% from N247.33 billion recorded in Q1 2023.”

The NBS also reported that the overall number of consumers was 12.33 million in Q1, up from 12.12 million in Q4 2023, marking a 1.78 per cent growth.

“On a year-on-year basis, customer numbers in Q1 2024 rose by 9.47% from 11.27 million reported in Q1 2023,” the bureau said.

“Similarly, metered customers stood at 5.91 million in Q1 2024, indicating a growth of 5.38% from 5.61 million recorded in the preceding quarter.

“On a year-on-year basis, this grew by 11.26% from the figure reported in Q1 2023 which was 5.31 million.”

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli