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ELECTRICITY DISCOS
The revenue collection efficiency of 11 electricity distribution companies (Discos) reached 85.82% in February 2024, according to a report by the Nigeria Electricity Regulatory Commission (NERC).
The Nigerian Electricity Regulatory Commission (NERC) has applied an exchange rate of N1463.3/$ in calculating the new electricity tariff for Band A consumers in the recent electricity tariff review.
In the fourth quarter of 2023, electricity distribution companies generated N294.95 billion in revenues- an increase of 13.37% from the N260.16 billion recorded in Q3 of 2023.
DisCos lost an estimated N2.94 billion in revenues following the 14-hour-long strike action embarked on by Labour Unions.