Nigeria’s 11 electricity distribution companies (DisCos) generated N199.90 billion in combined revenue for the first quarter of 2022, the quarterly report by the Nigerian Electricity Regulatory Commission (NERC) said.
The document released by the regulator on Thursday said a total of N199.90 billion was collected by all DisCos in the first quarter of 2022 out of the N295.69 billion billed to customers.
This translates to a collection efficiency of 67.36 per cent, which represents a 1.98 percentage point reduction compared to Q4 2021 when the average collection efficiency was 69.34 per cent.
In monetary terms, the report said although the billing in Q1 2022 reduced by N7.41 billion (-2.44 per cent), revenue collections reduced at a higher rate of 5.22 per cent at
N10.98 billion.
The regulator said it is imperative for DisCos to employ technologies and operational procedures to increase both their billing and collection performances to forestall long-term financial…
