DisCos generate N434bn in Q3, Q4 2022 — Report

By Ibiyemi Mathew

Latest data released National Bureau of Statistics (NBS) on Monday has revealed that Electricity Distribution Companies (DisCos) generated N434.94 billion in revenue in the third and fourth quarters of 2022.

In it’s “Nigeria Electricity Report”, detailing revenue generated by DisCos in the third and fourth quarters of 2022, 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.

“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,” the report revealed.

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.

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).

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.