Nigeria’s 11 Electricity distribution companies generated N210.17 billion in combined revenue in the fourth quarter of 2021, the quarterly report by the Nigerian Electricity Regulatory Commission (NERC) shows.
The report, released Thursday, showed that the power firms realised the amount out of N303.11 billion they projected for that quarter.
The amount is N16.67 billion higher than the turnover for the preceding quarter when a revenue N193.5 of billion.
“The total billing by DisCos to customers in 2021/Q4 increased 11.03 per cent from N273.00 billion recorded in 2021/Q3 while the revenue collected by DisCos in 2020/Q4 rose by 8.60 per cent recorded in 2021/Q3 – this indicates a further reduction in collection efficiency in 2021/Q4 relative to 2021/Q3,” the document said.
Ikeja Disco accounted for the biggest revenue at N42.5 billion, a N3 billion jump over the Q2 revenue of N39.5 billion.
Average collection efficiency across all discos decreased from 70.89 per cent in the third quarter of 2021 to 69.34 per cent.
Ibadan, Jos, and Kano DisCos recorded the most significant decline in collection efficiency, driving down total collection efficiency.
On the other hand, Enugu, Ikeja, Yola and Kaduna DisCos recorded increases in collection efficiency.
“A decrease in the collection efficiency can be explained by the fact that the increase in the collection is lower than the increase in billing,” the report said.
