Nigeria Records 2.08% Increase In Electricity Consumers -NBS

Removing Electricity Subsidy Will Raise Inflation — Experts To FG
Removing Electricity Subsidy Will Raise Inflation — Experts To FG

The National Bureau of Statistics (NBS) has released its Nigeria Electricity Report for the third quarter of 2023, revealing an increase in the number of electricity consumers.

According to the report, the figure rose by 240,000, moving from 11.47 million in the second quarter of 2023 to 11.71 million in the third quarter, indicating a growth rate of 2.08%.

The report focused on key metrics, including energy billed, revenue generated, and customer statistics provided by electricity distribution companies (DISCOS) during the reviewed period.

On a year-on-year basis, the number of electricity customers recorded a substantial increase of 7.09% in Q3 2023 compared to the 10.94 million reported in the same quarter of 2022.

Metered customers stood at 5.68 million in Q3 2023, reflecting a 3.77% increase from the 5.47 million recorded in the preceding quarter.

The year-on-year growth in metered customers was reported at 13.07%, up from 5.02 million in Q3 2022.

Estimated electricity customers, another category in the report, totaled 6.03 million in Q3 2023, showing a 0.53% increase from the six million recorded in Q2 2023.

The year-on-year comparison indicated a 2.02% rise in estimated customers, up from 5.91 million in Q3 2022.

In terms of revenue, electricity distribution companies collected N260.16 billion in Q3 2023, a slight decrease from the N263.08 billion recorded in Q2 2023.

However, on a year-on-year basis, there was a substantial increase of 28.40% over the N202.62 billion collected in the third quarter of 2022.

The report also highlighted a reduction in electricity supply to 5,731.60 (Gwh) in Q3 2023 from the 5,909.83 (Gwh) recorded in the second quarter of the year.

Despite this quarterly decline, the year-on-year comparison indicated a positive trend, with a 14.09% increase in electricity supply in Q3 2023 compared to the 5,023.96 (Gwh) reported in Q2 2022.