According to the latest report released by the National Bureau of Statistics (NBS), the total number of electricity consumers in Nigeria increased to 12.99 million in the second quarter of 2024 compared to the first quarter of the same year.
“Total customer numbers in Q2 2024 stood at 12.99 million from 12.33 million in Q1 2024, showing an increase of 5.35%. On a year-on-year basis, customer numbers in Q2 2024 rose by 13.24% from 11.47 million reported in Q2 2023,” the report states.
“Similarly, metered customers stood at 5.92 million in Q2 2024, indicating a growth of 0.25% from 5.91 million recorded in the preceding quarter. On a year-on-year basis, this grew by 8.18% from the figure reported in Q2 2023, which was 5.47 million,” it adds.
The report also stated records showing significant growth in the sector; however, a drop in electricity supply was mentioned.
“Electricity supply was 5,612.52 (Gwh) in Q2 2024 from 5,769.52 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply decreased by 5.03% compared to 5,909.83 (Gwh) reported in Q2 2023,” it stated.
The drop in electricity supply comes even though electricity distribution companies(DISCOs) in Nigeria recorded increased revenue.
The report revealed that DISCOs’ revenue for the period was N391.72 billion, up from N291.62 billion in the first quarter of 2024.
“Revenue collected by the DISCOs during the period was N391.72 billion from N291.62 billion in Q1 2024. On a year-on-year basis, revenue generated in the reference period rose by 48.90% from N263.08 billion recorded in Q2 2023,” the report reads.
In addition, the NBS revealed that the expected customer base in the second quarter increased by 10.04% to 7.07 million from 6.43 million in the first quarter of 2024. It also showed that consumers are estimated to have increased by 17.86% from 6.00 million in Q2 2023 to Q2 2024 on an annual basis.