DisCos’ revenue falls 33% short in 2024, as regulator blame inadequate metering, poor service.

The electricity distribution companies in Nigeria recorded a 33 percent short fall in their total revenue in the year 2024, as only N1.699 trillion was collected as revenue out of N2.196 trillion billed to customers in the period.

BusinessDay analysis of the quarterly reports as published by the Nigerian Electricity Regulatory Commission (NERC) showed that the total revenue collected by all DisCos in the first quarter of 2024 was N291.62 billion out of N368.65 billion billed to customers.

In the second quarter, the total revenue collected by all DisCos was N466.69 billion out of N626.02 billion billed to
customers, while in the third and fourth quarter the total revenues were N466.69 billion and N509.84 billion out of N626.02 billion and N658.40 billion billed to customers.

Poor revenue collection for electricity distributed has been identified as a major challenge bedeviling Nigeria’s power sector.

Source: Businessday