Sunday, Apr 18th 2021 12:07 AM

Market Digest Nigeria


Nigerians owe DisCos N273.42bn

Nigerians owe N273.42bn electricity debt in 2020


Consumers in the country increased debt owed to Electricity Distribution Companies (DisCos) by 18.38 percent in 2020, data from Nigerian Electricity Regulatory Commission financial report has shown.

The report obtained by Ripples Nigeria revealed that out of N816.15 billion electricity bill issued to consumers by the 11 Electricity Distribution Companies (DisCos) in 2020, only N542.73 billion was paid.

This represents a revenue shortfall of N273.42 billion in 2020 from N230.96 billion recorded in 2019.

However, despite the shortfall, the revenue collected by DisCos in 2020 is 11.38 percent increase from N487.2 billion paid in 2019.

Breakdown of the debt shows that Ikeja Disco gave out an electricity bill of N133 billion but collected only N105.23bn in 2020.

Also, Yola Disco which collected the lowest revenue of N10.74 billion issued out to its customers only N18.72 billion electricity bill was paid.

Abuja Discos N92.97billion electricity bill to its customers only brought back only N82.6bn.

Furthermore, Benin and Eko collected N45.66bn and 84.66bn respectively but issued out N85.97 billion and 107.67 billion electricity bill to customers.

The distribution companies in Enugu, Ibadan and Jos collected N47.83bn, N61.8bn and N17.44bn respectively from their customers however, DisCos issued N74.64 billion, N101.60 billion and N30.60 billion electricity bill.

Electricity consumers serviced by Kaduna, Kano and Port Harcourt Discos were given 57.14 billion, 52.57 billion 61.79 billion but only N21.53 billion, N33.84 billion and N31.39 billion was paid.

Electricity Distribution Companies have continued to cry out that the industry may collapse except something is done about the debt owed them.

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