The latest data released by the National Bureau of Statistics (NBS) reveals that the number of metered electricity customers in Nigeria has reached a new high of 5.13 million in Q4 2022, indicating a 2.00 percent growth rate from the previous quarter. The year-on-year increase was even more significant, with a growth rate of 7.37 percent from Q4 2021.
The NBS report also highlights that the 11 electricity distribution companies (DisCos) generated N232.32 billion revenue in the Q4 2022 period, a significant increase from N202.62 billion in Q3 2022. However, the total number of estimated customers was 5.93 million in Q4 2022, which is higher by only 0.34 percent from the 5.91 million reported in Q3 2022.
The report shows that the total customer numbers in Q3 2022 stood at 10.94 million, which rose by 1.20 percent from the previous quarter. However, on a year-on-year basis, customer numbers in Q3 2022 declined by 1.19 percent from Q3 2021.
Moreover, the NBS report reveals that revenue collected by the DISCOs during Q3 2022 stood at N202.62 billion, showing a rise of 7.54 percent from the previous quarter. On a year-on-year basis, revenue generated rose by 5.56 percent from N191.95 billion in Q3 2021.
In terms of electricity supply, Q3 2022 recorded 5,024 (Gwh), which declined by 8.53 percent compared to 5,493 (Gwh) reported in Q3 2021.
However, in Q4 2022, the total customer numbers surged to 11.06 million, indicating an increase of 1.10 percent from the previous quarter. On a year-on-year basis, customer numbers in Q4 2022 rose by 5.17 percent from Q4 2021 (10.51 million). The revenue collected also rose by 16.02 percent from N200.23 billion in Q4 2021.
The report indicates that the electricity supply in Q4 2022 stood at 5,611 (Gwh), which is a rise of 11.68 percent from 5,024 (Gwh) in Q3 2022. However, on a year-on-year basis, electricity supply declined by 3.48 percent compared to Q4 2021.
In conclusion, the latest NBS report highlights the surge in the number of metered electricity customers, along with a significant increase in revenue generated by the DisCos. However, there is still room for improvement in terms of electricity supply and estimated customer numbers.