National Bureau of Statistics Unveils 3% Decline in Nigeria’s Electricity Supply for Q3 2023
The National Bureau of Statistics (NBS) has released its latest report, revealing a 3% drop in Nigeria’s electricity supply during the third quarter of 2023.
According to the data, electricity supply decreased from 5,909.83 GWh in the second quarter to 5,731.60 GWh in the third quarter. Despite this quarterly decrease, the report indicates a noteworthy 14.09% increase in electricity supply on a year-on-year basis when compared to the third quarter of 2022.
Key Findings from the NBS Report:
Quarterly Decline: The report highlights a 3% decline in electricity supply, marking a decrease from 5,909.83 GWh in the second quarter to 5,731.60 GWh in the third quarter of 2023. This downturn is attributed to various factors influencing the energy landscape during this period.
Year-on-Year Increase: While the quarter witnessed a decline, the year-on-year comparison indicates a substantial 14.09% increase in electricity supply in the third quarter of 2023 when compared to the corresponding period in 2022. This positive trend suggests an overall growth in the nation’s electricity generation capacity.
Growing Consumer Base: The NBS report also notes a notable increase in the number of electricity consumers, reaching 11.71 million in the third quarter of 2023. This represents a significant rise of 240,000 consumers compared to the preceding quarter, indicating a growing demand for electricity across the nation.
Metered Customers and Estimated Customers Growth: The report highlights growth in both metered customers and estimated customers, underlining ongoing efforts to enhance metering infrastructure and accuracy in tracking electricity usage. The specifics of this growth were not provided in the initial release.
Revenue Generation: Electricity distribution companies reported a total revenue of N260.16 billion in the third quarter of 2023. This figure encompasses revenue generated from the growing consumer base and highlights the economic dimension of the electricity sector.
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The National Bureau of Statistics aims to provide comprehensive insights into the dynamics of Nigeria’s electricity sector, shedding light on both challenges and positive trends. As the country navigates the complexities of energy supply, the data presented in this report serves as a valuable resource for policymakers, industry stakeholders, and the general public in understanding the state of the nation’s electricity landscape.
