Electricity Report Q4 2023

Executive Summary

Total customer numbers in Q4 2023 stood at 12.12 million from 11.71 million in Q3 2023, showing an increase of 3.46%. On a year-on-year basis, customer numbers in Q4 2023 rose by 9.59% from 11.06 million reported in Q4 2022. Similarly, metered customers stood at 5.61 million in Q4 2023, indicating a decrease in the growth rate of 1.32% from 5.68 million recorded in the preceding quarter. On a year-on-year basis, this grew by 9.38% from the figure reported in Q4 2022 which was 5.13 million.
In addition, estimated customers during the quarter were 5.83 million, showing a decrease of 3.34% from 6.03 million in Q3 2023. Similarly, on a year-on-year basis, estimated customers also decreased by 1.73% in Q4 2023 from 5.93 million in Q4 2022. Revenue collected by the DISCOs during the period was N294.95 billion from N260.16 billion in Q3 2023.
On a year-on-year basis, revenue generated in the reference period rose by 26.96% from N232.32 billion recorded in Q4 2022. Electricity supply was 6,432. (Gwh) in Q4 2023 from 5,732 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 14.64% compared to 5,611 (Gwh) reported in Q4 2022.

Data source: National Bureau of Statistics