The Nigerian electricity Distribution Companies (Discos) generated revenue of N291.62 billion in the first quarter of 2024, a new report by the Nigerian Electricity Regulatory Commission (NERC) has revealed.
Throughout this period, the report said Nigeria lost 673 megawatts of power generation capacity due to gas shortages.
According to the NERC, the revenue collected by Discos was part of the ₦368.65 billion billed to customers during the first three months of the year.
“The total revenue collected by all Discos in 2024/Q1 was ₦291.62bn out of ₦368.65bn billed to customers.
“This translates to a collection efficiency of 79.11 per cent, representing an increase of 5.32 percentage points compared to 2023/Q4 (73.79 per cent),” the NERC report said.
According to the commission, Nigeria’s average available generation capacity for the quarter was 4,249.10 megawatts (MW), down 673.16 MW or 13.68 per cent from the 4,922.26 MW recorded in the fourth quarter of 2023 across all 27 facilities.
Also, during the period under review, 17 out of the 27 grid-connected plants were reported to have had less available generation capacity compared to Q4 of the previous year.
