Ripples Nigeria
A new report has revealed that the amount of money paid for electricity hit an eight-year high in 2021.
The report which was Association of Nigerian Electricity Distributors (ANED) the umbrella body for the electricity Distribution Companies (DisCos) shows that a total of N757 billion was collected from Nigerians for electricity consumed in 2021.
This is 46 percent increase from N516 billion paid in 2020 and the highest amount since 2013 when the Power Holding Company of Nigeria (PHCN) was unbundled.
The report which was obtained from the website of the association also showed an increase in the number of metered Nigerians to 10.01 million from 9.95 million in 2020.
However it was not all good news as the DisCos reported that they incurred new N343 billion additional debt from end customers in 2021.
But when compared to power firms revenue ANED were happy nothing that the revenue increase was largely due to subsidy removal and increase in tariff…
