Nigerian Power Consumers Break Records, Pay N267.86 Billion in Q2 2023 Electricity Bills

Power consumers in Nigeria paid a total of N267.86 billion in the second quarter of 2023.

This disclosure was made in the Second Quarter 2023 report released by the federal government on Monday.

The report highlights significant progress in collection efficiency by power distribution companies, a welcome development in the nation’s energy sector.

The NERC report reveals that the total revenue collected by all Distribution Companies (Discos) in 2023/Q2 amounted to N267.86 billion, out of N354.61 billion billed to customers, reflecting a collection efficiency of 75.54 percent.

This increase of 6.79 percentage points compared to 2023/Q1 (68.75 percent) is attributed to intensified metering efforts by Discos and the implementation of various collection campaigns, particularly benefiting post-paid customers.

Discos have shown an improvement in their market remittance performance. In 2023/Q2, they collectively remitted N185.36 billion out of N194.69 billion due with an outstanding balance of N9.32 billion, demonstrating a remittance performance of 95.21 percent compared to the 67.43 percent recorded in 2023/Q1.

However, the report also underscores the struggle of international consumers in honoring their electricity payments, with three out of four international customers failing to make payments against invoices issued by the Market Operator (MO).

These insights reveal a promising surge in domestic payment culture and highlight the need for improved international billing processes and collection strategies in Nigeria’s electricity market.