Electricity Consumers In Nigeria Increase By Over 400,000 In Late 2023 – NBS

The National Bureau of Statistics (NBS) has released its Q4 2023 Electricity Report, revealing a notable increase in the number of electricity consumers across Nigeria.

Naija News reports that from the third to the fourth quarter of 2023, the consumer count escalated by 410,000, moving from 11.71 million to 12.12 million, marking a 3.46 percent growth.

“The number of electricity customers increased by 9.59 percent in Q4 2023 from 11.06 million reported in Q4 2022,” the NBS highlighted, showcasing a significant year-on-year growth in the sector.

Despite the overall rise in consumers, the report detailed a slight decrease in metered customers from 5.68 million in the third quarter to 5.61 million in the fourth quarter of 2023, a 1.32 percent decline.

Nonetheless, this category also saw a year-on-year increase, growing by 9.38 percent from 5.13 million in Q4 2022.

Meanwhile, the number of estimated electricity customers decreased, falling by 3.34 percent from 6.03 million in Q3 to 5.83 million in Q4 2023 and seeing a slight year-on-year decline of 1.73 percent from 5.93 million in Q4 2022.

Financially, the electricity distribution companies (DisCos) in Nigeria reported a revenue boost in Q4 2023, collecting N294.95 billion, up from N260.16 billion in the previous quarter.

The NBS stated, “On a year-on-year basis, revenue collected rose by 26.96 percent over the N232.32 billion collected in the fourth quarter of 2022,” indicating a substantial increase in revenue generation within the sector.

The electricity supply also witnessed positive growth, with a reported supply of 6,432 gigawatt-hours (Gwh) in the fourth quarter of 2023, an increase from 5,732 Gwh in the third quarter.

This marks a 14.64 percent year-on-year increase compared with 5,611 Gwh in Q4 2022.