In the Q4/2023 Electricity report released by the National Bureau of Statistics (NBS) on April 1, 2024, Distribution Companies (DISCOs)’s revenue amounted to N294.95 billion. This represented an increase from N260.16 billion in Q3 2023.
This indicates a significant rise of 26.96% in revenue year-on-year, compared to N232.32 billion recorded in Q4 2022.
DisCos revenue details
The highest revenue during the period under review came from Ikeja, Eko, Abuja, Ibadan and Enugu DisCos.
Ikeja – N59.8 billion
Eko – N50.19 billion
Abuja – N46.23 billion
Ibadan – N31.82 billion
Enugu – N23.33 billion
In the fourth quarter of 2023, electricity supply reached 6,432 Gwh, marking an increase from 5,732 Gwh in the previous quarter. This represents a noteworthy surge of 14.64% year-on-year, compared to 5,611 Gwh reported in Q4 2022.
The total number of customers in Q4 2023 amounted to 12.12 million, exhibiting a growth of 3.46% from 11.71 million in Q3 2023. Moreover, on a year-on-year basis, customer numbers saw a substantial increase of 9.59% from 11.06 million reported in Q4 2022.
Metered and unmetered customer figures
The number of metered customers in Q4 2023 stood at 5.61 million, indicating a slight decrease in the growth rate of 1.32% compared to 5.68 million recorded in the preceding quarter. Nonetheless, on a year-on-year basis, this figure demonstrated a growth of 9.38% from the 5.13 million reported in Q4 2022.
Additionally, the estimated number of customers during the quarter was 5.83 million, reflecting a decrease of 3.34% from 6.03 million in Q3 2023. Similarly, on a year-on-year basis, estimated customers decreased by 1.73% in Q4 2023 from 5.93 million in Q4 2022.
The report stated that the top five distribution companies (DisCos) with the most metered customers for the period under review were Ibadan, Ikeja, Abuja, Benin and Enugu.
Ibadan – 1,054,740
Ikeja – 902,534
Abuja – 864,970
Benin – 665,821
Enugu – 612,758
The top five DisCos with the most unmetered customers for the period under review, according to the NBS report, were Ibadan, Enugu, Yola, Benin and Kaduna.
Ibadan – 1,368,714
Enugu – 709,104
Yola – 688,164
Benin – 676,324
Kaduna – 635,593.