Nigeria’s electricity distribution companies closed the fourth quarter of 2025 with an average billing efficiency of 82.03 percent, but the sector still recorded a major revenue gap of N174.12 billion, fresh data from the Nigerian Electricity Regulatory Commission has shown.
The figures underscore the ongoing struggle to convert supplied electricity into fully billable income.
According to the report, DisCos received energy worth N969.19 billion during the period but billed customers only N795.06 billion.
That performance was slightly weaker than the previous quarter, when billing efficiency stood at 82.69 percent, showing a marginal decline in sector performance.
The News Chronicle understands that while operators have made gradual progress in some areas, unresolved issues such as weak metering coverage, inaccurate energy accounting, service band distortions, and commercial losses continue to weigh heavily on the industry’s finances and limit investment capacity.
Performance across the 11 distribution companies remained mixed. Eko DisCo delivered the strongest result with 94.98 percent billing efficiency, while Yola DisCo recorded the weakest outcome at 62.84 percent.
Port Harcourt DisCo was the only operator to maintain an acceptable variance between billing efficiency and allocated energy.
Regulators noted that wide differences among operators point to deeper structural challenges within the power market. Analysts say that unless revenue leakages are reduced and infrastructure upgrades accelerate, the sector may continue to face liquidity pressure.
The latest report comes amid growing financial obligations for DisCos, including regulatory orders to refund customers who bought prepaid meters under the Meter Asset Provider scheme. Industry stakeholders believe stronger collections and better operational efficiency will be critical to improving electricity supply and long-term stability.

