The Nigerian Electricity Regulatory Commission (NERC) has reported that the total revenue generated by all Electricity Distribution Companies (DisCos) during the second quarter of 2024 reached an impressive N431.16 billion, according the report published on the commission’s official website as part of its comprehensive report for the second quarter, which was released this week in Abuja.
According to the report, the N431.16 billion in revenue was collected from a total of N543.64 billion that had been billed to customers. This indicates a collection efficiency of 79.31 percent. In comparison, during the first quarter, the total revenue collected by all DisCos amounted to N291.62 billion from a billed total of N368.65 billion, resulting in a slightly lower collection efficiency of 79.11 percent.
The report further highlighted that among the various DisCos, Ikeja and Eko DisCos achieved the highest collection efficiencies, recording impressive rates of 94.67 percent and 88.03 percent, respectively. Conversely, Yola DisCo reported the lowest collection efficiency at 55.67 percent.
The NERC report also pointed out that when comparing the performance of DisCos between the first and second quarters, six of the DisCos exhibited improvements in their collection efficiencies.
In addition to revenue collection data, the report mentioned that the commission issued a total of 18 licenses, permits, and certifications during the quarter. This included five new off-grid generation licenses, which together have a total nameplate capacity of 12.36 Megawatts (MW). Additionally, two on-grid generation licenses were granted, with a combined gross capacity of 66 MW. The commission also issued one new electricity trading license, one system operator license, and one captive generation permit with a capacity of 5 MW. Furthermore, six certifications were awarded to Meter Service Providers, alongside two permits for Meter Asset Providers (MAP).
