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Discos Remit N291bn To CBN In Eight Months
Data obtained from the Nigerian Bulk Electricity Trading has shown that the eleven electricity distribution companies in Nigeria remitted a total of N291 billion to the Central Bank of Nigeria within the space of eight months. The data said that the Discos remitted N291 billion out of the N526 billion invoice for electricity that was…
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DisCos’ Capacity Rises By 19% In Nine Years
A breakdown of the statistics sourced from the joint body of generating companies has disclosed that the capacity of the 11 electricity distribution companies to absorb more power generated grew by almost 19 percent since the sector was privatized nearly nine years ago. The DisCos have consistently blamed their inability to absorb the whole of…
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DISCOs Metered 3.51m Customers In One year
Report released by the National Bureau of Statistics has shown that the Nigeria Electricity Distribution Companies metered about 3.51 million customers in 2020. The report presents statistics on electricity from 2015 to 2020 and focuses on customer numbers, metered customers, estimated billing customers, and most importantly, electricity supply and revenue collected during the period under…
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DisCos revenue surges by 47% to hit N757bn
The Association of Nigerian Electricity Distributors’ 2021 report has said that the revenue collection by the 11 distribution companies increased by 47 per cent to N757bn in 2021. In the association’s report on the Commercial Key Performance Indicator for its members, it said NESI’s revenue collection in 2021 set a new record of N757bn, which…
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Power Tariff Shortfall Hits N247bn
The Federal Government has stated in its latest fact sheet on the Power Sector Recovery Programme that the shortfall in electricity tariff paid by consumers across the country to power distribution companies has dropped from N1.891tn to N247bn. PSRP was a programme initiated by the Federal Government with the support of the World Bank to…
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In Three Months, Discos Lose N97bn To Energy Theft, Others
In the first quarter of this year, the electricity distribution companies lost a total of N97 billion to energy theft, capping of estimated billing and other factors. The Association of Nigerian Electricity Distributors, the umbrella body for 10 of the 11 Discos in the country, said the amount lost by the power firms rose by…
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DISCOs Indebtedness Hits N510.53bn In 2020
The indebtedness of the 11 Distribution Companies to Nigerian Bulk Electricity Trading Plc has increased to N510.53billion in 2020. This indicates an increase of 11.2 per cent compared to N453.14billion, recorded in the corresponding period of 2019. This debt profile accrued means that the11 Power DisCos in the country could not remit a total of…
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Mass Metering: CBN Releases N33.4b To DisCos
The Central Bank of Nigeria has so far released N33.2 billion to electricity Distribution Companies in the country, Nigerian Electricity Regulatory Commission. This is a fraction out of the N59.2 billion earmarked for the National Mass Metering Project by the Federal Government. NERC Chairman, Engr Sanusi Garba, spoke during an interactive session between the Senate…
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DisCos Record N273.42 Billion Shortfall In 2020
The 11 Electricity Distribution Companies across Nigeria have recorded a shortfall of N273.42 billion in 2020. The companies cumulatively received a total of N542.73 billion out of N816. 15 billion they billed their consumers. This, however, is an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019. Also, the amount…