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DisCos record N273.42 billion shortfall in 2020

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DisCos

No fewer than 11 Electricity Distribution Companies (DisCos) have recorded a shortfall of N273.42 billion in 2020 and received a total of N542.73 billion out of N816. 15 billion consumers’ bill.

Techeconomy.ng could report that the figure is an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019.

This was disclosed by the National Electricity Regulatory Commission (NERC) in its 2020 financial report.

This medium gathered that the amount DisCos by generated from their consumers in 2020 increased by N55.49 billion from the N487.24 billion recorded in 2019.

See the major highlights of the report below

  • Ikeja Disco led the pack raking the highest amount of electricity bill from customers. It received N105.23 billion in 2020.
  • Yola Disco, however, received the lowest revenue in the year under review. It got N10.74 billion during the period.
  • Eko DisCo made revenue of N84.7 billion, followed by Abuja DisCo with N82.6 billion.
  • Ibadan DisCo also recorded N61.8 billion within the period under review.
  • Enugu DisCo recorded revenue of N47.83 billion while Benin and Jos DisCos received N45.66 billion and N17.44 billion respectively
  • Kaduna, Kano and Port Harcourt DisCos got N21.53 billion, N33.84 billion and N31.4 billion respectively from their electricity consumers.

Recently, Techeconomy.ng reported that the CBN had given N18.58 billion loan fertility to the DisCos to procure 347,853 electricity reading meters and enhance regular power supply in the nation.

This was contained in a statement signed by the governor, Godwin Emefiele on January 27.

Emefiele explained that the facility was given in support of the federal government’s National Mass Metering Programme (NMMP).

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He said: “The Bank has so far, provided N18.58 billion for the procurement of 347,853 electricity reading meters to Discos in support of the National Mass Metering Programme.”

Techeconomy,ng understands that the NMMP is a joint venture between the DISCOs and the FG to improve metering count in Nigeria’s Power sector, which would boost revenues and accountability for the DISCOs.

 

 

 

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