The number of electricity consumers has seen a significant increase, rising by 410,000 from 11.71 million in the third quarter of 2023 to 12.12 million in the fourth quarter of the same year. This represents a 3.46% growth, as reported by the National Bureau of Statistics in its recent Electricity Report.

The report focuses on key metrics such as energy billed, revenue generated, and customer numbers by Distribution Companies (DisCos) during the reviewed period. Year-on-year comparisons show a 9.59% increase in the number of electricity customers in Q4 2023 compared to the same period in 2022.

In terms of metered customers, the figures stood at 5.61 million in Q4 2023, slightly lower than the 5.68 million recorded in Q3 2023, indicating a 1.32% decrease. However, on a year-on-year basis, there was a 9.38% growth from the previous year.

The report also highlights a decrease in estimated electricity customers, with 5.83 million in Q4 2023 compared to 6.03 million in Q3 2023, representing a 3.34% decline. Year-on-year, estimated customers decreased by 1.73% in Q4 2023.

Revenue collection by electricity distribution companies saw a significant increase, reaching N294.95 billion in Q4 2023 compared to N260.16 billion in Q3 2023. This marks a 26.96% rise in revenue collected year-on-year.

Electricity supply also saw a notable increase, with 6,432 (Gwh) supplied in Q4 2023 compared to 5,732 (Gwh) in Q3 2023. Year-on-year, there was a 14.64% increase in electricity supply.

Overall, the electricity sector in Nigeria is showing positive growth trends, with increasing consumer numbers, revenue collection, and electricity supply. The efforts to improve access to electricity and enhance service delivery are evidently making an impact on the sector’s performance.