DisCos’ revenue rises 450% to ₦1.2trn despite poor electricity supply

Revenue collected by Nigeria’s electricity Distribution Companies (DisCos) increased by approximately 450 per cent between 2018 and 2026, despite limited improvements in electricity supply.

According to Vanguard, data from the Nigerian Electricity Regulatory Commission (NERC) showed that revenue rose from ₦218.16 billion in the first half of 2018 to ₦1.2 trillion in the corresponding period of 2026.

However, electricity supply increased by only 4.8 per cent, from 16,861 gigawatt-hours to 17,668GWh.

Available generation capacity also declined by 41 per cent, falling from 7,565.5 megawatts to 4,456MW.

The report revealed that DisCos received electricity valued at ₦1.9 trillion during the first six months of 2026 but collected only ₦1.2 trillion, leaving a ₦700.53 billion revenue shortfall.

Annual collections also increased from ₦302.93 billion in 2016 to ₦2.32 trillion in 2025.

Meanwhile, the Rural Electrification Agency estimates that approximately 85 million Nigerians still lack electricity access.

The figures highlight persistent challenges in Nigeria’s power sector despite rising collections and years of privatisation.