Nigeria ‘s Electricity Supply Has Declined In The Past One Year
The electricity supply in Nigeria experienced a decline of 1.74% over the past year, but there was a quarterly improvement as Distribution Companies (DisCos) generated a revenue of N247.33 billion in the first quarter of 2023.
According to recent data from the National Bureau of Statistics (NBS), Nigeria’s electricity supply decreased by 1.74% over the course of twelve months, from the first quarter of 2022 to the first quarter of 2023, reaching a total of 5,852 Gigawatt-hours (GWh) compared to 5,956 GWh previously.
However, when looking at the quarterly performance, there was a rise in electricity supply from 5,611 GWh in the last quarter of 2022 to 5,852 GWh in the first three months of 2023.
In terms of revenue generation, the DisCos managed to generate N247.33 billion in the first quarter of 2023, which marks a N15 billion increase from the N232 billion generated between October and December 2022. This also represents a substantial 20.81% growth compared to the corresponding quarter in 2022.
Among the Distribution Companies, Ikeja Disco emerged as the top earner, generating approximately N49 billion in revenue for the quarter. Eko and Abuja Discos followed closely with N41.7 billion and N38.1 billion respectively.
The number of customers served by the DisCos also experienced a slight increase of 0.40%, rising from 5.93 million in the fourth quarter of 2022 to 5.96 million in the period from January to March. Comparing this with the same quarter in the previous year, there was a growth from 5.84 million to the current figure.
Among the DisCos, Ibadan Disco boasted the largest customer base, serving around 2.2 million customers. Abuja and Benin Discos followed with 1.32 million and 1.2 million customers respectively. Ibadan Disco also had the highest number of metered customers, closely followed by Ikeja and Abuja Discos.
To address the persistent challenges in the electricity sector that have hindered Nigeria’s industrialization efforts, President Tinubu took a significant step by signing the Nigeria Electricity Bill into law. This legislation grants state governments and private individuals the authority to generate and distribute electricity within areas covered by the national grid, aiming to increase access to reliable power and boost the country’s overall electricity capacity.
Inadequate supply and distribution have long plagued Nigeria’s electricity sector, as the country’s installed capacity far exceeds its actual transmission capability. The implementation of the Nigeria Electricity Bill brings renewed hope for a more efficient and robust electricity system that can support the nation’s industrial growth and economic development.
