DisCos' Revenue Declines by 1.12% to N291 Billion in Q1 2024

The electricity distribution companies (DisCos) in Nigeria generated revenue of N291.62bn in the first quarter of 2024 down slightly when compared to Q4, 2023 levels, amid blackouts in parts of the country.

“The total revenue collected by all DisCos in 2024/Q1 was ₦291.62bn out of ₦368.65bn billed to customers. This translates to a collection efficiency of 79.11 per cent which represents an increase of +5.32 percentage points when compared to 2023/Q4 (73.79 per cent),” said a report by the Nigerian Electricity Regulatory Commission.

This compares to the total revenue collected by all DisCos in 2023/Q4 of N294.95 billion out of N399.69 billion billed to customers. This translated to a collection efficiency of 73.79%.

This was even as the nation lost 673 megawatts of power generation capacity due to gas shortages during the period.

The report revealed that the average available generation capacity across all the 27 plants in the country during the quarter was 4,249.10MW representing a loss of 673.16MW, or a 13.68 per cent decrease compared to the 4,922.26MW recorded in the fourth quarter of 2023.

It said 17 out of the 27 grid-connected plants recorded decreased available generation capacities in Q1 2024 compared to Q42023.

In the period under review, the average energy offtake by the DisCos at their trading points was 3,283.87 megawatt-hours, a decrease of 429.29MWh/h compared to the 3,713.16MWh/h recorded in Q4 2023.