IBEDC records highest estimated-billing customers as DisCos revenue rose to N263.08 billion in Q2 of 2023 –NBS

The Ibadan Electricity Distribution Company (IBEDC) has 1.33 million estimated billing customers, the highest among the 11 Distribution Companies (DisCos) in Nigeria, according to data by the National Bureau of Statistics (NBS).

IdanNews gathered that the statistics bureau in its Nigeria Electricity Report for the second quarter (Q2) of 2023 published recently revealed that revenue collected by the DisCos during the period rose to N263.08 billion from N247.33 billion in Q1 2023.

It also shows that the estimated-billing customers during the quarter were 6 million, higher by 0.72 percent from 5.96 million in Q1 2023.

According to the NBS, on a year-on-year basis, estimated customers increased by 2.58 percent in Q2 2023 from 5.85 million in Q2 2022, as the country grapples with perennially poor power and inadequate meter supply. 

IBEDC which covers Oyo, Ogun, Osun, Kwara and parts of Niger, Ekiti and Kogi states, is also ranked number four with N27.41 billion as Ikeja (IKEDC) first with N52.29 billion, Eko (EKDC) second with N43.29 billion, and Abuja (AEDC) third with N43.07 billion among the 11 revenue generating DisCos companies in Nigeria.

The NBS said that the total customer numbers in Q2 2023 stood at 11.47 million from 11.27 million in Q1 2023, showing an increase of 1.84 percent. On a year-on-year basis, customer numbers in Q2 2023 rose by 6.17% from 10.81 million reported in Q2 2022.

Meanwhile, metered customers stood at 5.47 million in Q2 2023, indicating a growth of 3.10 percent from 5.31 million recorded in the preceding quarter. On a year-on-year basis, this grew by 10.40 percent from the figure reported in Q2 2022 which was 4.96 million.

On a year-on-year basis, revenue generated in the reference period rose by 39.63 percent from N188.41 billion recorded in Q2 2022.

Electricity supply improved slightly, rising to 5,909.83 (Gwh) in Q2 2023 from 5,851.87 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 13.06 percent compared to 5,226.97 (Gwh) reported in Q2 2022.