BY BAMIDELE FAMOOFO
Distribution companies in the Nigerian electricity sector in three months increased revenue generation by N15.01 billion.
Figures made available by the National Bureau of Statistics, recently, showed that revenue collected by the DISCOs in the first quarter of 2023, increased to N247.33 billion from N232.32 billion in the last quarter of 2022.
On a year-on-year basis, revenue generated in the reference period rose by 20.81 percent from N204.74 billion recorded in Q1 2022.
Electricity supply was 5,852 (Gwh) in Q1 2023 from 5,611 (Gwh) in the previous quarter.
However, on a year-on-year basis, electricity supply declined by 1.74 percent compared to 5,956 (Gwh) reported in Q1 2022.
Total consumers of electricity in Q1 2023, increased by 1.89 percent to 11.27 million, compared to 11.06 million in the fourth quarter of 2022.
On a year-on-year basis, customer numbers in Q1 2023 rose by 5.99 percent from 10.63 million reported in Q1 2022.
Similarly, metered customers stood at 5.31 million in Q1 2023, indicating a growth of 3.61 percent from 5.13 million recorded in the preceding quarter.
On a year-on-year basis, this grew by 10.86 percent from the figure reported in Q1 2022 which was 4.79 million.
In addition, estimated customers during the quarter were 5.96 million in Q1 2023, higher by 0.40 percent from 5.93 million in Q4 2022. On a year-on-year basis, estimated customers increased by 1.99 percent in Q1 2023 from 5.84 million in Q1 2022.
Still in the energy market, the average retail price of Automotive Gas Oil (Diesel) paid by consumers in May 2023 was N844.28 per litre, an increase of 25.81 percent from N671.08 per litre recorded in the corresponding month of the previous year.
On a month-on-month basis, this increased by 0.24 percent from N842.25 per litre reported in April 2023.
On state profile analysis, the highest average price of the product in May 2023 was recorded in Adamawa with N970.00, followed by Bauchi with N940.00, and Taraba with N915.50.
On the other hand, the lowest price was recorded in Bayelsa with N736.88, followed by Delta with N772.50 and Anambra with N775.71.
Furthermore, analysis by zone showed that the North East had the highest price with N908.02, while the South East recorded the lowest price with N809.62.
