Ikeja Disco tops others despite fewer customers
By Jeph Ajobaju, Chief Copy Editor
Ikeja Electricity Distribution Company (DisCo) made N86,184,49 billion revenue in the third and fourth quarters of 2022 (Q3, Q4 2022), the most money among all Discos, according to the Electricity Report released by the National Bureau of Statistics (NBS).
The report said Ikeja DisCo generated N40,558.7 billion revenue in Q3 2022 and N45,625.79 in Q4.
But Ikeja had 1,014,471 customers in Q3 2022 and 1,044,520 in Q4 2022, lagging
behind DisCos in Ibadan, Abuja, and Enugu in the two quarters.
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Figures of DisCos across the country
All DisCos nationwide had higher revenues in Q4 2022 – but Kano, Port Harcourt, Yola, Kaduna, and Jos DisCos had minimal rises, according to the NBS, per Nairametrics.
The number of customers increased from 10,937,488 in Q3 2022 to 11,058,265 in Q4. Ibadan DisCo had the highest number, which jumped from 2,176,067 in Q3 to 2,220,266 in Q4.
Abuja DisCo recorded the second highest number of customers, increasing from 1,250,563 in Q3 2022 to 1,290,977 in Q4.
DisCos in Abuja, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, and Yola, had a few new connections in the two quarters.
Port Harcourt DisCo did not show new connections, as the number of customers at 725,363 in Q3 remained the same in Q4.
Benin DisCo had 1,259,771 customers in Q3 and 1,186,922 in Q4.
The total revenue of DisCos in Q3 2022 was N202.62 billion, up on N188.41 billion in Q2 2022, a rise of 7.54 per cent. Revenue rose 5.56 per cent year-on-year (YoY) from N191.95 billion in Q3 2021.
Their total revenue reached N232.32 billion in Q4 2022 against N202.62 billion in Q3. It grew 16.02 per cent YoY from N200.23 billion in Q4 2021.