In an eye-opening reveal, the Nigerian Electricity Regulatory Commission (NERC) has announced that the country’s Electricity Distribution Companies (DisCos) raked in a massive ₦509.84 billion in the fourth quarter of 2024 (Q4 2024). This amount is a significant portion of the ₦658.40 billion billed to customers, marking a collection efficiency of 77.44%, according to NERC’s 2024 Q4 Report, released on Tuesday.
This collection performance shows an improvement from the third quarter of 2024 (Q3 2024), where DisCos managed to collect ₦466.69 billion out of the ₦626.02 billion billed, achieving a collection efficiency of 74.55%. The latest figures indicate a 2.89 percentage point increase in collection efficiency, a positive sign for Nigeria’s energy sector.
Among the top performers, Eko DisCo led the charge with an impressive collection efficiency of 90%, followed by Ikeja DisCo at 82.63%. These two companies maintained their dominant positions from Q3 2024. However, not all DisCos performed well, with Jos DisCo recording the lowest collection efficiency at just 49.68%.
The report also highlights that eight DisCos made strides in improving their collection efficiency between Q3 and Q4 2024, with Yola and Kano DisCos showing the most remarkable improvements. Unfortunately, three DisCos saw declines in performance, with Jos and Abuja DisCos facing the biggest drops.
While these figures reflect overall progress, the performance disparities among DisCos reveal an ongoing challenge in ensuring consistent and efficient electricity distribution across Nigeria. The full details are available in NERC’s latest report.
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