April 20, (THEWILL) – The Ibadan Electricity Distribution Company (IBEDC) has 1.3 million estimated billing customers – the highest in Nigeria, as the country grapples with perennially poor supply, according to data by the National Bureau of Statistics (NBS).
Ibadan also belongs to the league of top revenue generating DISCOs – following Ikeja (IEDC), Eko (EKDC) and Abuja (AEDC), which raked in N45.6 billion, N35.5 billion and N35.2 billion respectively in the fourth quarter (Q4) of 2022.
Ibadan (which covers Oyo, Ogun, Osun, Kwara and parts of Niger, Ekiti and Kogi states), pooled N28.4 billion during the period.
These facts were contained in the ‘Nigeria Electricity Report – Q4 2022’ published by the NBS, which featured supply performance, “Energy Billed, Revenue Generated and Customers by DISCOS”.
The eleven DISCOs collected a total revenue of N232.3 billion in Q4 2022 against N202.6 billion in the preceding quarter (Q3), representing a 14.7 percent increase.
Yola, Kaduna and Jos DISCOs had the lowest revenue pools: N4.2 billion, N7.6 billion and N8.6 billion respectively.
The DISCOs’ estimated billing customer numbers rose to 5.93 million from 5.91 million in Q3 22. Ibadan had a total of 1.3 million, representing 22 percent of the entire estimated billing customers.
The DISCOs had a total of N5.1 million metered customers in Q4 2022 as against 5.0 million in the preceding quarter, while 11.0 million customers were in the registers of the DISCOs during the reporting period, compared to 10.9 million in Q3 2022.
“Electricity supply in Q3 2022 stood at 5,024 (Gwh) from 5,227 (Gwh) in the previous quarter. On a year-on-year basis, electricity supply declined by 8.53% compared to 5,493 (Gwh) reported in Q3 2021,” the NBS report stated.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
