Despite ongoing power supply challenges and a significant number of customers lacking meters, electricity distribution companies in Nigeria have collectively raked in an impressive N1 trillion in revenue.
The breakdown of revenue among key distribution companies is as follows:
Ikeja Electricity Distribution Company: N218.6 billion
Eko Distribution Company: N52.8 billion
Abuja Electricity Distribution Company: N167.4 billion
Ibadan Electricity Distribution Company: N111.3 billion
Enugu Electricity Distribution Company: N82.5 billion
Yola Electricity Distribution Company: N22.3 billion
Benin Electricity Distribution Company: N84.6 billion
Kaduna Electricity Distribution Company: N32.4 billion
Jos Electricity Distribution Company: N38.9 billion
Kano Electricity Distribution Company: N55.2 billion
Port-Harcourt Electricity Distribution Company: N74.7 billion
The total revenue has surged to N1.065 trillion, marking a remarkable 28.2% growth compared to the N831 billion generated during a similar period in 2022.
The National Bureau of Statistics unveiled these figures in its latest electricity report, highlighting both the financial prowess of these companies amidst challenges and the persistent issue of inadequate metering affecting millions of customers nationwide.
This substantial revenue growth underscores the resilience of the electricity sector but also underscores the urgent need for infrastructure improvements, especially in metering, to enhance service delivery and customer satisfaction.
Stay tuned for more updates on Nigeria’s electricity landscape.
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