DisCos’ revenue hits ₦509.84bn in Q4 2024 – NERC

Credit: NAN

The Nigerian Electricity Regulatory Commission (NERC) on Tuesday announced that Electricity Distribution Companies (DisCos) collected ₦509.84 billion in the fourth quarter of 2024 (Q4 2024) out of the ₦658.40 billion billed to customers.

The NERC’s 2024 Fourth Quarter Report, published on its website in Abuja, showed that “this translates to a collection efficiency of 77.44 per cent.”

“In comparison, DisCos collected ₦466.69 billion in the third quarter of 2024 (Q3 2024) from the ₦626.02 billion billed, resulting in a 74.55 per cent collection efficiency.”

It said that the 77.44 per cent efficiency recorded in Q4 2024 represented an increase of 2.89 percentage points compared to Q3 2024’s 74.55 per cent.

“Eko DisCo recorded the highest collection efficiency at 90 per cent, followed by Ikeja DisCo at 82.63 per cent, maintaining their top positions from Q3 2024.

“In contrast, Jos DisCo recorded the lowest collection efficiency at 49.68 per cent,” the report said.

According to the report, comparison of DisCos’ performance shows that eight DisCos improved their collection efficiency between Q3 and Q4 2024, with Yola and Kano DisCos recording the most significant improvements.

It, however, said the remaining three DisCos saw declines in collection efficiency, with Jos and Abuja DisCos experiencing the most significant drops over the period.