The electricity Distribution Companies (DisCos) raked in a total of N575 billion in the first five months of 2024, as a result of tariff increment, according to Sunday PUNCH.
Despite consistent complaints over poor power supply by consumers and high tariffs, the 11 DisCos had billed a total of N740.9 billion over the period under review.
They were able to collect N575 billion, achieving 77.5 per cent revenue collection efficiency in the country.
According to data released by the Nigerian Electricity Regulatory Commission (NERC), which contains Discos’ commercial performance for the five months, N95 billion was generated in January out of N130.92 billion billed for the month.
The sum of N97 billion was collected in February out of projected N113 billion, N100.44 billion was generated in March out of N126.56 billion billed, N142.92 billion was made in April out of N178.72 billion, and N139.23 billion was generated in May out of N191.65 billion billed for the month.
A comparison of the N95 billion January revenue and N139.23 billion generated in May gives a difference of N43.97 billion, which is 46 per cent of the former.
Sunday PUNCH gathered that the rise in revenue occurred at a time when the country experienced a huge drop in power supply due to gas shortages.
On 3 April, NERC increased the electricity tariff to N225 per kilowatt-hour for customers in the Band A category.
After intense public uproar, NERC later announced an 8.1 per cent reduction in the electricity tariff rate for the Band A customers.
The hike in electricity tariffs has put many Nigerians under heavy energy bills.
The Nigerian Medical Association (NMA) on Friday declared that the high cost of electricity is threatening lifesaving healthcare services.
Speaking to Sunday PUNCH, the President of the NMA, Prof Bala Audu, said some hospitals in the country have been disconnected from power supply because they couldn’t afford to pay the increased electricity tariffs.
