Electricity Consumers Rise 9.5% to 12.33m in Q1 2024, Says NBS

The National Bureau of Statistics report revealed that the number of electricity consumers in Nigeria rose by 210,000 from 12.12 million in the fourth quarter of 2023 to 12.33 million in the first quarter of 2024.

NBS stated in its Electricity Report for the first quarter (Q1) of 2024 released on Tuesday in Abuja that the increase was by 1.78 per cent.

The News Agency of Nigeria reports that the review focuses on energy billed, revenue generated, and customers by DISCOS under the reviewed period.

It stated that on a year-on-year basis, the number of electricity customers increased by 9.47 per cent in Q1 2024 from 11.27 million reported in Q1 2023.

It said in Q1 2024, the number of metered customers stood at 5.91 million compared with the 5.61 million recorded in Q4 2023, this indicated a 5.38 per cent increase.

“On a year-on-year basis, the figure grew by 11.26 per cent from the 5.31 million reported in Q1 2023,’’ it said.

Similarly, estimated electricity customers stood at 6.43 million in Q1 2024, showing an increase of 10.22 per cent over the 5.83 million recorded in Q4 2023.

“On a year-on-year basis, estimated customers increased by 7.88 per cent in Q1 2024 from the 5.96 million recorded in Q1 2023,” it stated.

The NBS also said that electricity distribution companies collected N291.62 billion in revenue in Q1 2024 compared with the N294.95 billion they collected in Q4 2023.

It added that on a year-on-year basis, revenue collected rose by 17.91 per cent over the N247.33 billion collected in Q1 2023.

It stated that electricity supply was 5,769 (Gwh) in the first quarter of 2024 from 6,432 (Gwh) recorded in the fourth quarter of 2023.

However, the report said on a year-on-year basis, electricity supply decreased by 1.41 per cent in Q1 2024 compared with the 5,851 (Gwh) reported in Q1 2023.

NAN