Friday, March 29, 2024

Electricity distribution companies record N761.17bn revenue in 2021

BY BAMIDELE FAMOOFO

Revenue generated from billed electricity in Nigeria increased by 44.5 percent as at end of December 2021 to N761.17 billion compared with N526.77 billion in 2020.

In the same manner, total electricity billed by the various Distribution Companies in Africa’s most populous nation, increased by 5.89 percent in 2021 from 22,042.28 (Gwh) in 2020 to 23,360.59 (Gwh) in 2021.

Figures obtained from the National Bureau of Statistics also showed that the total number of customers recorded in 2021 was 10.51 million, higher than 10.37 million in 2020.

The report from NBS, released on Wednesday, showed that the number of metered customers rose by 36.18 percent from 3.51 million in 2020 to 4.77 million in 2021, while estimated billing customers decreased by 16.32 percent from 6.86 million in 2020 to 5.74 million in 2021.

Meanwhile, Lagos State accounted for 36.12 percent of total revenue collected by the Discos. Abuja came after Lagos with N117.44 billion, accounting for 15.4 percent of total revenue while Ibadan accounted for 11.8 percent of total revenue with N89.59 billion.

Kano and Edo States accrued N46.7 billion and N52 billion respectively to rank among the top five states in electricity revenue.

Collection by Discos puts Ikeja Electricity Distribution Company ahead of the others with N155 billion, servicing 967,195 customers as at end of 2021.

Eko Electricity Distribution Company residents in Lagos State followed on the revenue chart with N120 billion while Abuja Electricity Distribution Company was third with N117.44 billion.

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