Nigeria’s electricity distribution companies (Discos) made N291.62 billion in the first quarter of 2024, despite a severe power crisis in the country. This was due to a gas shortage that reduced power generation capacity by 673 megawatts (MW).
The Nigerian Electricity Regulatory Commission (NERC) reported that Discos collected 79.11% of the total amount billed to customers, which was N368.65 billion.
However, the power crisis led to a 13.68% decrease in available generation capacity, with 17 out of 27 power plants recording decreased capacity. The average energy supplied to customers was 3,283.87 megawatt-hours, a decrease of 429.29 megawatt-hours compared to the previous quarter.
Despite the challenges, the Discos’ billing efficiency increased to 80.45%, up from 78.45% in the previous quarter. The total energy received by the Discos was 7,171.93 gigawatt-hours, with 5,769.52 gigawatt-hours billed to customers.
