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Q1 2024
Nigeria’s international electricity customers did not make any payment to the Market Operator (MO) out of the $14.19 million electricity bill in the first quarter of 2024.
The total volume of electricity supply by Discos to customers in the first quarter of 2024 declined by 10.3% from 6,432.22 (Gwh) in Q4, 2023 to 5,769.52 (Gwh) in the first three months of this year.
A review of the recently released Company Income Tax (CIT) report for the first quarter of 2024 reveals that income tax payment by companies in manufacturing, agriculture and 12 others declined by a minimum of 16%.
In the first quarter of 2024, Nigeria’s total exports increased by 51% from N12.69 trillion in the preceding quarter (Q4, 2023) to N19.16 trillion. On a year-on-year basis, total exports grew by 195% from N6.48 trillion recorded in Q1, 2023.
Seplat Energy Plc has released its unaudited financial statements for Q1 2024. The company posted a net loss of $1.93 million, representing a 103.3% year-on-year decline from the $57.5 million net income posted in Q1 2023.
Unilever Nigeria Plc has recorded a foreign exchange revaluation gain of N1.17 billion in the first quarter of 2024. This is according to the company’s unaudited financial result for Q1, 2024 published on the NGX.