ELECTRICITY: DisCos collected N260.16bn revenue in Q3’

ELECTRICITY: DisCos collected N260.16bn revenue in Q3’23 — report

– By Ayomide Oginni

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ELECTRICITY: DisCos collected N260.16bn revenue in Q3’23 — report

By Eyo Nsima

The revenue collected by Electricity Distribution Companies, GenCos, dropped quarter-on-quarter, QoQ by 1.10 per cent to N260.16 billion in the third quarter of 2023, from N263.08 billion in the second quarter of 2023.

However, on a year-on-year, YoY basis, the revenue generated by the DisCos rose by 28.40 per to N260.16 billion in the third quarter of 2023, from N202.62 billion recorded in the third quarter of 2022.

The National Bureau of Statistics, NBS, which disclosed this in its report, stated: “Revenue collected by the DISCOs during the period was N260.16 billion from N263.08 billion in Q2 2023. On a year-on-year basis, revenue generated in the reference period rose by 28.40% from N202.62 billion recorded in Q3 2022.

“Electricity supply was 5,731.60 (Gwh) in Q3 2023 from 5,909.83 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 14.09% compared to 5,023.96 (Gwh) reported in Q3 2022.

“Similarly, the total number of electricity customers in Nigeria rose quarter-on-quarter, QoQ to 11.71 million in the third quarter of 2023, from 11.47 million in the second quarter of 2023, showing an increase of 2.08 per cent.

“But on a YoY basis, customer numbers in the third quarter of 2023 rose by 7.09 per cent to 11.71 million in the third quarter of 2023, from 10.94 million in the third quarter of 2022

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