Nigeria’s electricity supply reduces despite revenue increase in electricity distribution

In Q2 2024, Nigeria's electricity consumers increased to 12.99 million, a 5.35% rise from Q1 2024 and a 13.24% growth year-on-year.

Metered customers grew by 0.25% from the previous quarter and 8.18% year-on-year. However, electricity supply dropped to 5,612.52 Gwh, a decline of 2.72% from Q1 2024 and 5.03% compared to Q2 2023.

Despite reduced supply, electricity distribution companies (DISCOs) saw a significant revenue increase, collecting N391.72 billion, a 48.90% rise from Q2 2023.