DisCos turn in N542.73 billion from customers

ELECTRICITY Distribution Companies (DisCos) across Nigeria received a total of N542.73 billion out of N816.15 billion they billed their consumers, and recorded a shortfall of N273.42 billion in 2020.

This was made known by the National Electricity Regulatory Commission (NERC) in its 2020 financial report.

Accoring to the report, there was an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019.

The report also indicated that the amount the DisCos generated from their consumers in 2020 increased by N55.49 billion from the N487.24 billion recorded in 2019.

Ikeja Disco led the pack raking the highest amount of electricity bill from customers. It received N105.23 billion in 2020.

Yola Disco, however, received the lowest revenue in the year under review. It got N10.74 billion during the period.

According to the report Eko DisCo turned in a revenue of N84.7 billion, followed by Abuja DisCo with N82.6 billion.

Ibadan DisCo also recorded N61.8 billion within the period covered. Enugu DisCo recorded revenue of N47.83 billion while Benin and Jos DisCos received N45.66 billion and N17.44 billion respectively

The last three; Kaduna, Kano and Port Harcourt DisCos, got N21.53 billion, N33.84 billion and N31.4 billion from their electricity consumers, respectively.

Recall that NaijaTimes earlier reported that N123.3 billion was by the CBN to DisCos to procure meters, improve power supply.

The Nigerian Electricity Regulatory Commission (NERC) had revealed that one million meter units were earmarked for the initial phase of the implementation of the National Mass Metering Programme (NMMP) with Ikeja Disco (IKEDC) topping the list with the approved meter allocation of 106,701 units (10.7%).

Others were IBEDC with 103,997 units (10.4%), AEDC with 101,186 units (10.1%). PHEDC got the least of 77,070 units (7.7%).