Electricity distribution companies, DisCos, in Nigeria made a total of N294.95 billion in the fourth quarter of 2023.
In its latest report on electricity for Q4 2023, released on Monday, the National Bureau of Statistics, NBS, says the revenue generated by the DisCos rose by 26.9 percent compared to the N232.32 billion recorded in Q4 2022.
Electricity supply was 6,432 Gigawatt Hours in Q4 2023, up from 5,732 Gigawatt Hours in the previous quarter.
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The NBS also says the total number of customers in Q4 2023 stood at 12.12 million, up from 11.71 million in Q3 2023. This represents an increase of 3.46 percent in the fourth quarter of last year.
In Q3 last year, the federal government spent N204.5 billion on electricity subsidy, and plans to expend an additional N1.6 trillion in 2024 to enable citizens to access power at a low cost.
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