The 11 electricity distribution companies in Nigeria generated combined revenue of N434.94 billion in the third and fourth quarters of 2022, Iwitnesslive can report.
Data from the Nigeria Bureau of Statistics seen by our correspondent showed that the Discos generated N202.262 billion in the third quarter (July to September) while they recorded a slight jump to N232.32 billion in the fourth quarter (October to December).
Further analysis of the document showed that on a year-on-year basis, revenue collected rose by 16.02% from N200.23 billion in Q4 2021.
Iwitnesslive can report that the Ikeja Electricity Distribution Company generated the highest revenue between July and December of 2022. The company made a whopping N86.185 billion within the period under review. It recorded a revenue of N40.558 billion in the third quarter while its earnings in the fourth quarter stood at N45.625 billion.
In second place is the Eko Electricity Distribution Company with N65.954 billion in revenue.
EEDC was followed by Abuja Electricity Distribution Company which made N65.78 billion with its N31.516 billion in the third quarter and N35.264 billion in the fourth quarter.
Our correspondent reports that Ibadan Electricity Distribution Company is the fourth having generated N51.576 billion in the third and fourth quarters of the year while it was followed in fifth position by Benin Electricity Distribution Company with combined revenue of N35.781 billion.
Enugu Electricity Distribution Company sits in sixth position with N35.388 billion in revenue generated and was followed by Port Harcourt Electricity Distribution Company which recorded N30.779 billion.
Kano Electricity Distribution Company, Kaduna Electricity Distribution Company, Jos Electricity Distribution Company and Yola Electricity Distribution Company recorded N27.741 billion, N13.732 billion, N16.159 billion and N7.637 billion respectively within the period under review.
The data also showed the number of estimated customers was 5.93 million in Q4 2022, higher by 0.34% from the 5.91 million reported in Q3 2022. On a year-on-year basis, this rose by 3.34% in Q4 2022
from the figure reported in Q4 2021.
The reports also read: “The total customer numbers in Q3 2022 stood at 10.94 million from 10.81 million in Q2 2022, showing a rise of 1.20%. On a year-on-year basis, customer numbers in Q3 2022 declined by 1.19% from Q3 2021 (11.07 million).
“In Q3 2022, metered customers stood at 5.02 million from 4.96 million in Q2 2022, indicating a 1.33% increase. However, on a year-on-year basis, this grew by 5.71% from the figure reported in Q3 2021 which was 4.75 million.
“Similarly, estimated customers stood at 5.91 million in Q3 2022, higher by 1.09% from 5.85
million in Q2 2022. On a year-on-year basis, estimated customers declined by 6.38% in Q3
2022 from 6.32 million in Q3 2021”
The figure at a glance
Abuja N65.78b
Benin N35.781b
Eko N65.954b
Enugu N35.388b
Ibadan N51.576b
Ikeja N86.185b
Jos N16.159b
Kaduna N13.732b
Kano N27.741b
Port Harcourt N30.779b
Yola N7.637b
