Business

In Six Months Nigerians Spend N393.14bn On Electricity

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2 years ago

September 20, 2022

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Electricity consumers in Nigeria paid Electricity distribution companies (DisCos) in Nigeria N393.14 billion for power consumed in the first six months of 2022.

This is according to Nigeria Electricity data released by the National Bureau of Statistics (NBS) on Tuesday.

According to the data, the revenue generated by the DISCOs from Nigerians stood at 204.74 billion in Q1 2022 and 188.41 billion in Q2 2022.

The revenue the report added, was from 10.63 million customers in Q1 2022, increasing to 10.81 million in Q2 2022.

But out of the total number of customers, only 4.79 million in Q1 2022 and 4.96 million in Q2 2022 are metered.

Most of the electricity customers in Nigeria, 5.84 million in Q1 2022 and 5.85 million in Q2 2022, pay their bills based on estimation.

Meanwhile, the report shows that Electricity supply to customers so far in 2022 has declined, and this cannot be disassociated from the several grid collapses reported in 2022.

The breakdown shows that in Q1 2022, electricity supply stood at 5,956 (Gwh) and 5,227 (Gwh) in Q2 2022, showing a decline of 12.23% on a quarter-on-quarter basis,

While on a year-on-year basis, electricity supply declined compared to 6,172.19 (Gwh) and 5,882.57 (Gwh) reported in Q1 2021 and Q2 2021 respectively.