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According to the Nigeria Electricity Report for Q4 2023, revenue collected by the DISCOs during the period was N294.95 billion, an increase from N260.16 billion in Q3 2023. The increment in revenue is associated with two factors – an increase in customers and electricity supply. The number of customers grew by 3.4% to 12.12 million in Q4 2023 from 11.71 million in Q3 2023. Likewise, the electricity supply grew by 12.2% to 6,432. (Gwh) in Q4 2023 from 5,732 (Gwh) in the previous quarter. However, the rate of increase in revenue generation is likely to be hampered by low metering rates. As of Q4 2023, 46% of the 12.12 million customers are metered. Recently, the Nigerian Electricity Regulatory Commission (NERC) approved a new tariff affecting only Band A.
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