• Supply increases by 13 per cent
The number of metered electricity customers in Nigeria stood at 5.47 million in Q2 2023, indicating a growth of 10.4 per cent from the figure reported in Q2 2022 which was 4.96 million.
On a quarter-on-quarter basis, the growth was only 3.1 per cent from 5.31 million recorded in the preceding quarter.
Recently, the Nigerian Electricity Regulatory Commission (NERC) approved a hike in the price of pre-paid meters, which became effective on September 6, 2023.
The new prices have been criticised by stakeholders on the ground that they could discourage consumers from procuring meters.
According to the new prices as released by the NERC, a single-phase meter will now cost N81,975.16 kobo, instead of the previous price of N58,661.69 kobo.
Similarly, the price of a three-phase meter was increased to N143,836.1 kobo from N109,684.36 kobo.
The National Bureau of Statistics (NBS), in its Nigeria Electricity Report Q2 2023, said the estimated customers during the quarter increased by six million, a 0.72 per cent increase from 5.96 million in Q1 2023, while on a year-on-year basis, estimated customers increased by 2.58 per cent in Q2 2023, from 5.85 million in Q2 2022.
The report also showed that revenue collected by the distribution companies (DisCos) during the period was N263.08 billion, from N247.33 billion in Q1 2023.
On a year-on-year basis, NBS reports that the revenue generated in the reference period rose by 39.63 per cent, from N188.41 billion recorded in Q2 2022.
On the supply side, it reported that electricity supply was 5,909.83 (Gwh) in Q2 2023, from 5,851.87 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 13.06 per cent compared to 5,226.97 (Gwh) reported in Q2 2022.
The NBS further reports that the total customer numbers in Q2 2023 stood at 11.47 million from 11.27 million in Q1 2023, showing an increase of 1.84 per cent.
On a year-on-year basis, customers covered in Q2 2023 rose by 6.17 per cent from 10.81 million reported in Q2 2022.
