DisCos Generate N466bn in Q3 as FG Shoulders N464bn Subsidy
The federal government incurred the sum of N464.12bn as subsidy payment in the electricity sector for the third quarter of 2024, a report by the Nigerian Electricity Regulatory Commission (NERC) showed.
The report stated that the...
Nigeria Receives $500m W’Bank Loan to Boost Power Sector
The Federal Government says it has received a $500m credit from the World Bank to boost the financial and technical capacities of electricity distribution companies.
The Transmission Company of Nigeria said in a public notice on Thursday...
Discos Revenue Rise by 61.4% After 230% Electricity Tariff Hike
Revenues earned by electricity Distribution Companies (Discos) in Nigeria have risen by over 61.4 per cent after the Nigerian Electricity Regulatory Commission (NERC) approved a 230 per cent tariff increase for Band ‘A’ customers nationwide...
40% of Nigerians Enjoy 20 hours Electricity Supply Daily – Power Minister
The Minister of Power, Adebayo Adelabu, has said that more than 40% of Nigerians now enjoy over 20 hours of electricity daily.
He said this in a statement on Sunday detailing a review of...
Electricity Consumers Owe DisCos N385.7bn
Electricity consumers across the country failed to pay the sum of 385.73bn electricity bills issued to them in 2023.
According to the 2023 annual report and accounts of the Nigerian Electricity Regulatory Commission (NERC), the DisCos collected N1bn out of the...
DisCos’ Revenue Rises by 40% to N433bn
Revenues earned by electricity Distribution Companies (Discos) in Nigeria in the second quarter of 2024, spanning April to June, rose almost 40 per cent to N433 billion during the period, on the back of the recent tariff increase...
