Tag: Discos

DisCos Generates N398.16bn in Six months – NBS Reveals
Economy, Infrastructure, Nigeria

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

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. See Also: Naira Devalues to N700/$1 as Dollar Demand Rises 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, es...
Implementation of New Electricity Tariff to Resume Next Week
Cost of Living, News, Nigeria, Power

Implementation of New Electricity Tariff to Resume Next Week

Special adviser to the president on infrastrure, Ahmed Zakari has said that electricity distribution companies (DiscCos) will resume implementation of the new electricity tariff next week. A news service-based reflective tariff (SRT) structure was implemented on September 1 by the DisCos after approval by President Muhammadu Buhari. The new tariff was halted after the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) kicked against the hike. The organised labour called for a nationwide strike to protest the new electricity tariff and the hike in petrol pump price. However, the strike was suspended at the eleventh hour after the organised labour reached an agreement with the federal government to suspend the implementation of the new tariff pending the findings of...
Tariff Hike Suspension: We Are Yet to be Informed – Discos
News, Nigeria, Power

Tariff Hike Suspension: We Are Yet to be Informed – Discos

Following the agreement between the organised labour and Federal Government on suspension of electricity tariff hike for two weeks, power distribution companies on Monday said they are yet to receive official directive from the Nigerian Electricity Regulatory Commission (NERC) on the suspension. Investigation shows the discos are confused on the implication of the agreement between FG and labour unions as regards the suspension of the spike in electricity tariff. Executives of power distribution companies on Monday said they were expecting the NERC to inform them of a new tariff plan to be utilised within the two weeks as agreed by FG and organised labour pending substantive agreement. Reports say even though the Discos said they would require three to four days to change their bi...