• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home News

DisCos’ Revenue Reaches N150 Billion in June, NERC Reports

by Destiny Eseaga
September 10, 2024
in News
0
Adelabu
Adebayo Adelabu, Nigeria's Minister of Power.

Adebayo Adelabu, Nigeria's Minister of Power.

UBA
Advertisements

The electricity distribution companies across the country collected ₦N150.86 billion in revenues in June 2024, representing a collection efficiency rate of 85.44%.

This is according to the fact sheet on electricity distribution companies’ performance in the month published by the Nigeria Electricity Regulatory Commission (NERC), Discos across the country billed customers up to ₦N176.57 billion.

The report also stated that Ikeja  DisCo received the highest revenue for the month at ₦30.06 billion, representing a billing efficiency rate of 102.44%.

It was followed by Eko Disco which recorded a billing efficiency ratio of 97.07% collecting up to N26.37 billion.

While Benin DisCo recorded the third-highest billing efficiency of 89.49%, Abuja Disco collected the third-highest revenue at N24.29 billion.

On the other hand, Yola DisCo recorded the lowest revenue collection efficiency rate as well as the lowest revenue among electricity distribution companies for the month at 60.81%.

This was followed by Jos and Kaduna DisCos at 62.03% and 66.46% respectively. Yola, Jos, and Kaduna DisCos collected N3.08, N4.96, and N5.01 billion respectively.

In terms of energy received and billed, the 11 electricity distribution companies received 2,190.12 GWh of electricity and billed up to 1,850.73 GWh, representing an energy billing efficiency rate of 85.44%.

In this regard, Enugu DisCo recorded the highest billing efficiency rate at 95.63% billing 153 GWh out of 160 GWh of energy billed.

This was followed by Yola and Ibadan DisCos respectively with billing efficiency rates of 92% and 90% respectively.

Furthermore, Kaduna, Jos, and Kano DisCos recorded the lowest energy billing efficiency rate in the month at 63.7%, 71.49%, and 79.03% respectively.

The DisCos revenue collection of N150 billion represents a significant increase from the period before the electricity tariff increase for Band A users.

 In April, the Nigeria Electricity Regulatory Commission (NERC) announced an over 200% hike in electricity tariffs for Band A users who constitute about 17% of electricity consumers in the country.

According to the NERC, the tariff increases only affected customers who enjoy at least 20 hours of electricity daily.

In February, all Discos collected N97.01 billion out of the total billed amount of N113.05 billion. Ikeja Disco achieved the highest revenue collection efficiency for the month at 114.64%, collecting N19.48 billion from the N17.08 billion billed to customers.

Following Ikeja were Eko and Abuja Discos, with revenue collection efficiencies of 99.24% and 87.26%, respectively.

In the first quarter of 2024, the total revenue collected by Discos was N291.62 billion, a slight decrease from the N294.95 billion collected in Q4 2023.

Loading

Advertisements
MTN ADS

Author

  • Destiny Eseaga

    My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

    View all posts
0Shares
Tags: #NERC #Electricity #Compliance #SuplementaryOrder #CustomerService #AEDCIkeja  DisCo
Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

Next Post
kade Keyo

KADE KEYO and the Audacious Moves among Business Professionals

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Naira-Settled OTC FX Futures

CBN says Borrowing now Expensive as Banking Industry Growth Slows

2 years ago
EGBIN Power

Group Commends Egbin Power on Support to Community Development

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.