Electricity Distribution Companies Generate N1 Trillion Amidst Metering Challenges
Despite facing significant challenges in power supply and metering, electricity distribution companies (DisCos) in Nigeria have reported a staggering revenue of N1 trillion. This revelation comes as millions of customers across the country continue to lack access to meters, exacerbating the issues surrounding billing accuracy and transparency.
According to the latest figures released by the National Bureau of Statistics (NBS), Ikeja Electricity Distribution Company topped the list with revenue amounting to N218.6 billion, followed by the Abuja Electricity Distribution Company with N167.4 billion. Other notable earners include the Ibadan Electricity Distribution Company (N111.3 billion), Enugu Electricity Distribution Company (N82.5 billion), and Port-Harcourt Electricity Distribution Company (N74.7 billion).
The total revenue earned by DisCos has surged to N1.065 trillion, marking a significant increase of N234.4 billion or 28.2 percent compared to the previous year. Despite this substantial growth in revenue, the persistent challenges in power supply and metering remain pressing concerns for consumers nationwide.
The lack of adequate metering infrastructure has long been a contentious issue in Nigeria’s electricity sector, leading to disputes over billing accuracy and frequent complaints of overbilling by consumers. With an estimated 5.8 million customers still lacking meters, there is a pressing need for urgent interventions to address this critical shortfall and enhance transparency in billing practices.
The disparity between revenue generated and the persistent metering challenges underscores the urgent need for comprehensive reforms and investment in the electricity sector. By prioritizing the deployment of meters to all consumers and implementing measures to improve operational efficiency and service delivery, stakeholders can work towards fostering a more equitable and sustainable electricity distribution system.
As Nigeria seeks to drive economic growth and development, ensuring reliable and affordable access to electricity for all remains a paramount objective. It is imperative for policymakers, regulators, and industry stakeholders to collaborate closely to address the underlying issues plaguing the power sector and pave the way for a brighter energy future for the nation.
The latest revenue figures serve as a stark reminder of the need for concerted efforts to tackle the longstanding challenges facing Nigeria’s electricity distribution sector. With strategic interventions and sustained commitment, the nation can unlock the full potential of its power infrastructure, driving progress and prosperity for all citizens.
Source: National Bureau of Statistics (NBS) Electric Power Sector Report
