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DisCos earn N473 billion in 2019, reveal reason for metering gap

A report by the Association of Nigerian Electricity Distributors has shown that the DisCos in Nigeria recorded 8% growth in their revenue collection.

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NERC, license, notice, FG owes DisCos over N500 billion to electricity Subsidy - PwC , Power: DisCos remain the weakest link, NERC Issues 8 DisCos notice for cancellation of License , DisCos respond to NERC’s threat to cancel operating license of eight DisCos, DisCos earned N473 billion in 2019, reveal reason for metering gap

A report by the Association of Nigerian Electricity Distributors has shown that the Distribution Companies (DisCos) in Nigeria recorded 8% growth in their revenue collection in 2019. The eleven DisCos grossed N473 billion in 2019.

The growth in the DisCos revenue compared to that of 2018 is reportedly a new high in the electricity industry, having recorded a growth of N35 billion last year to hit N473 billion. Also, the DisCos set another record in December 2019 after collecting about N42.1 billion, while the collection efficiency for the fourth quarter set a new record of 71.4%.

power distribution NERC

DisCos disappointed by transmitted energy: Despite the revenue growth, much was not recorded in the energy transferred by the Transmission Company of Nigeria (TCN). The DisCos said energy had been flat, low and far from what they had been promised by the Nigerian Electricity Regulatory Commission (NERC) under the Multi-Year Tariff Order financial model.

“In the last minor review of December to January, NERC dropped its previous projection for 2020 from 123,000 megawatt-hour per day down to 96,000 MWh/day (an almost 30 per cent downward review), which is the main reason for increasing the forecasted tariff shortfall for 2020 to N534 billion (N426 billion compared to 2019 June’s minor review).

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“The number of registered end-users in the Nigerian electricity supply industry keeps increasing, currently at a rate of about 75,000 new customers per month (10 per cent in 2019, resulting in more than 9.5 million customers in total),” as quoted in a Punch report.

[READ MORE: Tariff hike: Unmetered customers will be exploited by DisCos, FCCPC alleges)

According to the report, the energy transmitted by TCN only increased by 1% while the allowed end-user tariff remained at an average of N32.5 per kilowatt-hour average since 2016. It was disclosed that the transmitted energy last year increased from 26,385 gigawatt-hours in 2018 to 26,630 gigawatt-hours, and the energy billed rose to 21,702 GWh (an equivalent of N695 billion) from 20,852 GWh (N662 billion).

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“The aggregate technical, commercial and collection loss (moving average) keeps improving and it is now at 44.6 per cent, although it is still far from Ikeja Electric’s new record (22% in December 2019).

“Nevertheless, a few Discos are showing symptoms of fatigue in their ATC&C loss reductions, with a Disco deteriorating by a moving average of 4.7 points in 2019. Hopefully, this situation will revert soon and will not follow the path of Yola Electricity Distribution Company.”

Nairametrics had reported that the Federal Government took over Yola Electricity Distribution Company after insecurity in the North-East region forced the core investor to declare a force majeure. The government has now put the firm up for sale. Yola DisCo has been projected to end the year with 70% in ATC&C losses, having not been in control of its ATC&C losses for the last three years.

Meanwhile, with almost 59.4% of the end-users unmetered, the DiscCs complained that the delays/barriers in the implementation of the Meter Asset Provider Regulation were expanding the metering gap.

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Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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ENDSARS

#EndSARS: Archbishop of Canterbury condemns Lekki shootings

The Archbishop of Canterbury has joined his voice to the condemnation of the shooting of protesters in Lagos.

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#EndSARS: Archbishop of Canterbury condemns Lekki shootings

The Archbishop of Canterbury, Justin Welby says he condemns the shooting of unarmed protesters in Lekki and urges President Muhammadu Buhari to ensure that lives are protected.

The Archbishop, who is the Chief of the Anglican Church globally disclosed this on Wednesday morning, as the  International Community reacted to videos of protesters getting shot at the Lekki tollgate.

Recall Nairametrics reported that several social media accounts revealed peaceful protesters were being shot at by the military at the Lekki toll gate holdout for the #EndSars protest.

The Nigerian Army, however,  denied deploying soldiers to attack #EndSARS protesters who assembled at the Lekki Toll Plaza.

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The Archbishop earlier said in his statement, “I condemn in the strongest terms the reported deliberate shooting of unarmed protesters in Lagos and other parts of Nigeria.

“I have urged President Muhammadu Buhari directly to ensure that lives are protected – and I say that again now.

“I mourn for Nigeria. May God save Nigeria.

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ENDSARS

JUST IN: #EndSARS: NPA headquarters set on fire by hoodlums

The headquarters of the NPA in Lagos has been allegedly set on fire by hoodlums.

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The headquarters of the Nigerian Ports Authority in Marina, Lagos has been reportedly set on fire by hoodlums involved in the #EndSARS protests.

According to some social media reports, the hoodlums who seem to be protesting the shooting of unarmed protesters at the Lekki Tollgate set ablaze the NPA building on Wednesday, October 21, 2020.

Details later…

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ENDSARS

Just-in: #EndSARS: Lagos suspends activities, declares a three-day lockdown

Governor Sanwo-Olu has directed an immediate suspension of all state activities for the next three days.

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Lagos announces resumption time table for public and private schools, FESTAC town, Lagos cancels 2018 land use charge, LAND USE CHARGE, Lekki sealed buildings, Lagos state governor issues new guidelines for lockdown, consider full reopening of its economy

The Lagos State Government has suspended all government activities and declared lockdown for 72 hours due to growing violence in the state.

This was disclosed by Governor Babajide Sanwo-Olu in a live broadcast on Wednesday.

Some hours ago, eyewitnesses claimed armed uniformed men opened fire on #EndSARS protesters at the Lekki tollgate area of the state on Tuesday evening.

Sanwo- Olu said, “Fellow Lagosians, in the sensitive mood and in the mood of the nation at this time, I have directed further that we have an immediate suspension of all state activities for the next three days, except those that are connected to the security activities in the state and the management of the current issues.

“I have also directed that at all public buildings within our reach, that we lower the flag for the next three days as a mark of respect and solidarity for the protests.”

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Nairametrics had earlier reported that Lagos had declared a 24-hour curfew in the state, starting from 9pm on Tuesday.

This is due to the raging #EndSARS protests and demonstrations in the state, which has been hijacked by criminals and hoodlums with attacks on innocent citizens and the destruction of properties.

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