The latest electricity report by the country’s National Bureau of Statistics (NBS) showed that the total number of electricity customers in Nigeria increased to 12.99 million in Q2 of 2024 compared to the total number of 12.33 million recorded in Q1 2024.
“Total customer numbers in Q2 2024 stood at 12.99 million from 12.33 million in Q1 2024, showing an increase of 5.35%. On a year-on-year basis, customer numbers in Q2 2024 rose by 13.24% from 11.47 million reported in Q2 2023,” the report states.
“Similarly, metered customers stood at 5.92 million in Q2 2024, indicating a growth of 0.25% from 5.91 million recorded in the preceding quarter. On a year-on-year basis, this grew by 8.18% from the figure reported in Q2 2023 which was 5.47 million,” it adds.
As seen in the report, there were also other significant growths recorded in the sector, however a decline in the amount of electricity supplied was highlighted.
5,612.52 Gigawatt hours (Gwh) were delivered during the period under review, compared to 5,769.52 (Gwh) in the preceding quarter.
This reduction was also reflected in the supply amount on a year-to-year basis. The report states;“Electricity supply was 5,612.52 (Gwh) in Q2 2024 from 5,769.52 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply decreased by 5.03% compared to 5,909.83 (Gwh) reported in Q2 2023.”
This is despite the fact that electricity distribution companies in the country, otherwise known as DISCOS, recorded some growth in the amount of revenue it generated.
The report revealed that DISCOs’ revenue for the period was N391.72 billion, up from N291.62 billion in the first quarter of 2024.
“Revenue collected by the DISCOs during the period was N391.72 billion from N291.62 billion in Q1 2024. On a year-on-year basis, revenue generated in the reference period rose by 48.90% from N263.08 billion recorded in Q2 2023,” the report reads.
Furthermore, as relayed by the NBS, the quarter’s expected customer base increased by 10.04% to 7.07 million from 6.43 million in the first quarter of 2024. Estimated consumers climbed 17.86% from 6.00 million in Q2 2023 to Q2 2024 on an annual basis.
