Electricity Distribution Companies (DisCos) in 2022 first and second quarters generated a cumulative N393.2billion, a report by the Nigeria Bureau of Statistics (NBS) has shown.
A breakdown showed that revenue generation by the DisCos stood at N204.74 billion in Q1 and N188.41 billion in Q2 2022 representing N16.3billion decline.
According to the report, the figure implied a fall on a quarter-on-quarter basis by
7.97percent while on a year-on-year basis, revenue collected rose by 11.42 and 1.71 per cent respectively from N183.74 billion in 2021 Q1 and N185.24 billion in Q2 same year.
Similarly, the total electricity customer in Q1 2022 was put at 10.63 million and 10.81 million in Q2 2022, showing a rise of 1.67percent on a quarter-on-quarter basis.
Meanwhile, on a year-on-year basis, customer numbers in Q1 2022 declined by 1.36 per cent from Q1 2021 (10.78 million), and also reportedly fell in Q2 2022 by 2.27percent from Q2 2021 (11.06million).
Also, the report disclosed that 4.79 million customers were metered in Q1 2022 even as the figure rose to 4.96 million in Q2 2022.
This according to the report, indicated a 3.53percent increase on a quarter-on-quarter basis.
“However, on a year-on-year basis, there were growth rates of 10.71% and 9.54% in Q1 and Q2 2022 respectively when compared to 4.33 million recorded in Q1 2021 and 4.53 million in Q2 2021,” it added.
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