According to the National Bureau of Statistics’ latest Electricity Report for the first quarter of 2023, despite a 1.74 percent decline in supply, the total amount of income made by electricity distribution businesses increased by 20.81 percent.
According to the report, a year-over-year comparison revealed that Discos generated N247.33 billion in revenue in Q1 2023, compared to N204.74 billion in Q1 2022. However, compared to the 5,956 Gigawatt hours recorded in Q1 2022, the power supply was 5,852 Gwh in Q1 2023.
Additionally, according to the study, Discos made N232.32 billion in Q4 2022, increasing the total amount of money the companies made in six months to N479.65 billion. However, compared to the previous year, the supply of power decreased by 1.74 percent.
Additionally, it was revealed that the overall number of consumers increased, reaching 11.27 million in the first quarter of 2023. According to the report’s further information, “Total customer numbers in Q1 2023 increased by 1.89 percent to 11.27 million from 11.06 million in Q4 2022.
Customer numbers increased by 5.99 percent year over year from the 10.63 million reported in Q1 2022. Metered customers increased by 3.61 percent from the 5.13 million reported in the previous quarter to reach 5.31 million in Q1 2023.
From 5.84 million in Q1 2022, the expected number of consumers climbed by 1.99 percent in Q1 2023. According to the research, Ibadan Electricity Distribution Company had the highest number of customers, about 2.23 million.