In the fourth quarter of 2023, electricity distribution companies generated N294.95 billion in revenues- an increase of 13.37% from the N260.16 billion recorded in Q3 of 2023.
Compared to the same period in the previous year, revenue increased by 26.96%, rising from N232.32 billion in the fourth quarter of 2022.
This is according to the fourth quarter electricity report published by the National Bureau of Statistics (NBS).
The revenue generated was from a total of 12.11 million customers of which 5.60 million were metered and around 5.83 million were unmetered (via estimated billing).
Year-over-year, customer counts in the fourth quarter of 2023 increased by 9.59% from 11.06 million reported in the fourth quarter of 2022.
Metered customers numbered 5.61 million in the fourth quarter of 2023, showing a decline of 1.32% from the 5.68 million reported in the previous quarter.
Comparatively, on an annual basis, there was a 9.38% increase from the 5.13 million metered customers recorded in the fourth quarter of 2022.
Furthermore, the number of estimated customers in the quarter was 5.83 million, marking a 3.34% drop from 6.03 million in the third quarter of 2023. On a year-on-year comparison, the estimated customer count declined by 1.73% in the fourth quarter of 2023, down from 5.93 million in the fourth quarter of 2022.
In the fourth quarter of 2023, electricity supply reached 6,432 gigawatt-hours (GWh), up from 5,732 GWh in the preceding quarter. On an annual basis, there was a 14.64% increase in electricity supply from 5,611 GWh in the fourth quarter of 2022.
Ikeja Disco received the highest electricity supply at 1,070 GWh followed by Eko Disco at 934 GWh and Abuja Disco completing the top three at 884 GWh.
