NBS Reports Increase in Electricity Consumers in Q1 2024

NBS Reports Increase in Electricity Consumers in Q1 2024

The National Bureau of Statistics (NBS) has reported a notable increase in the number of electricity consumers in the first quarter of 2024. According to the recently released Electricity Report for Q1 2024, there was a 1.78 percent rise in consumers, with the number growing by 210,000 from 12.12 million in the fourth quarter of 2023 to 12.33 million in the first quarter of 2024. The report analyzed energy billing, revenue collection, and customer statistics for the period.

Year-on-year, the number of electricity customers saw a 9.47 percent increase, rising from 11.27 million in Q1 2023 to 12.33 million in Q1 2024.

The report also highlighted that the number of metered customers reached 5.91 million in Q1 2024, up from 5.61 million in Q4 2023, marking a 5.38 percent increase. Compared to the same period last year, this represented an 11.26 percent rise from 5.31 million in Q1 2023.

Additionally, the number of estimated electricity customers stood at 6.43 million in Q1 2024, showing a 10.22 percent increase from the 5.83 million recorded in Q4 2023. On a year-on-year basis, estimated customers rose by 7.88 percent from 5.96 million in Q1 2023.

In terms of revenue, electricity distribution companies collected N291.62 billion in Q1 2024, slightly down from the N294.95 billion collected in Q4 2023. However, year-on-year, revenue collection increased by 17.91 percent compared to the N247.33 billion collected in Q1 2023.

The report also noted a decline in electricity supply, which was 5,769 GWh in Q1 2024, down from 6,432 GWh in Q4 2023. Year-on-year, electricity supply saw a 1.41 percent decrease.

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