According to the Nigeria Electricity Report Q2 2023, released by the National Bureau of Statistics (NBS) on a Friday, the total number of electricity customers in Nigeria has increased from 11.27 million in Q1 2023 to 11.47 million in the same year’s second quarter, marking a growth of 1.84%.
Additionally, the revenue collected by the Distribution Companies (DISCOs) during this period has risen to N263.08 billion, up from N247.33 billion in the first quarter of 2023.
With regards to customers, the report provides the following key insights:
- In Q2 2023, the total number of customers reached 11.47 million, signifying a 1.84% increase from the previous quarter, Q1 2023. On a year-on-year basis, there was a significant 6.17% growth compared to Q2 2022 when the customer count stood at 10.81 million.
- Metered customers in Q2 2023 amounted to 5.47 million, indicating a 3.10% growth compared to the previous quarter’s figure of 5.31 million. Year-on-year, this represented a substantial increase of 10.40% compared to the Q2 2022 figure of 4.96 million.
- The report also mentioned that estimated customers during the quarter numbered 6.00 million, which was slightly higher by 0.72% compared to the figure of 5.96 million in Q1 2023.
In terms of revenue:
- The DISCOs collected a total of N263.08 billion in revenue during the period, which marked a significant increase compared to the N247.33 billion in Q1 2023.
- On a year-on-year basis, estimated customers increased by 2.58% in Q2 2023 from 5.85 million in Q2 2022.
- Year-on-year, the revenue generated during the reference period saw a substantial surge of 39.63% compared to N188.41 billion recorded in Q2 2022.
Additionally, the report pointed out that the electricity supply for Q2 2023 amounted to 5,909.83 Gigawatt-hours (GWh), slightly higher than the 5,851.87 GWh recorded in the previous quarter. In a year-on-year comparison, electricity supply witnessed a significant increase of 13.06% compared to the 5,226.97 GWh reported in Q2 2022.
Furthermore, it’s noteworthy that the Nigerian Electricity Regulatory Commission (NERC) recently approved an upward adjustment in the prices of prepaid electricity meters. This adjustment resulted in revised prices for both single-phase and three-phase prepaid meters, as detailed in a circular dated September 5, 2023, issued by NERC.
