Electricity Customer Numbers Reach 12 Million in Q4 2023 – NBS Reports

According to the National Bureau of Statistics (NBS), Nigeria recorded a total of 12.12 million electricity customers in the fourth quarter of 2023, marking a 3.46 percent increase from the 11.71 million customers in the third quarter of the same year.

Comparing year-on-year figures, customer numbers in Q4 2023 surged by 9.59 percent from the 11.06 million reported in the fourth quarter of 2022.

Specifically, prepaid metered customers accounted for 5.61 million in Q4 2023, reflecting a slight decrease in growth rate by 1.32 percent from the 5.68 million recorded in the preceding quarter. However, this segment saw a significant year-on-year growth of 9.38 percent from the 5.13 million reported in Q4 2022.

In contrast, estimated billing customers totaled 5.83 million during the quarter, indicating a decline of 3.34 percent from 6.03 million in Q3 2023. Similarly, on a year-on-year basis, estimated customers also decreased by 1.73 percent in Q4 2023 from 5.93 million in Q4 2022.

The revenue collected by electricity distribution companies (Discos) during the period amounted to N294.95 billion, marking an increase from the N260.16 billion collected in Q3 2023. This represents a substantial year-on-year growth of 26.96% from N232.32 billion recorded in Q4 2022.

Furthermore, electricity supply surged to 6,432Gwh in Q4 2023 from 5,732 Gwh in the previous quarter, indicating a 14.64 percent increase year-on-year compared to the 5,611Gwh recorded in Q4 2022.