DisCos Generates N398.16bn in Six months – NBS Reveals

Osaretin Balogban

According to the National Bureau of Statistics (NBS), electricity Distribution Companies (DisCos) have generated N398.16 billion in both the first and second quarters of the year.

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Comparing results from the previous year, NBS noted that revenue collection declined by 7.97% quarterly and 11.42% yearly.

A document by NBS reads “Electricity Report Q1-Q2 2022.” “Revenue generation by the DISCOs stood at 204.74 billion in Q1 2022 and 188.41 billion in Q2 2022. This shows a fall on a quarter-on-quarter basis by 7.97 per cent.”

“On a year-on-year basis, revenue collected rose by 11.42 per cent and 1.71 per cent from 183.74 billion Q1 2021 and 185.24 billion in Q2 2022.”

It revealed that in the first quarter of 2022, estimated customers declined by 9.45% and then a decline of 10.45% in the second quarter of the year.

“total customer number in Q1 2022 stood at 10.63 million and 10.81 million in Q2 2022, showing a rise of 1.67 per cent on a quarter-on-quarter basis.”

On a year-on-year basis, customer number in Q1 2022 declined by 1.36 per cent from Q1 2021 (10.78 million), and also fell in Q2 2022 by 2.27 per cent from Q2 2021 (11.06million),” said NBS.

NBS stated that an electricity supply of 5,956 (Gwh) was recorded in the first quarter of 2022 and then 5,277 (Gwh) in the year’s second quarter.

Still, on supply, a decline of 12.23% on a quarter-on-quarter basis was recorded based on last year’s quarters which was 6,172.19 (Gwh) and 5,882.57 (Gwh) in Q1 and Q2.

Source: The Nation

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