The House of Representatives has mandated electricity distribution companies (DisCos), to undertake a N500 billion recapitalisation to enhance their financial stability and ensure they can efficiently meet their obligations to the public. The resolution followed the adoption of a motion, titled “Need to Address the Activities of Distribution Companies in Nigeria”, sponsored by the member representing the Ifo/Ewekoro Federal Constituency …

Electricity consumers in the Federal Capital Territory (FCT) have kicked against the increase in prices of prepaid meters. It was reported that Electricity Distribution Companies (DisCos), announced the increase in the price of prepaid meters on their various official X handles, with effect from 5 November. Recall that the upward review followed an earlier increase in August, which further raised …

Power distribution companies in Nigeria have announced an increase in the price for various electricity meter models, marking the second price hike in four months. Power consumers kicked against the development, describing it as “wicked”, considering the economic hardship nationwide currently. According to the Discos, the cost of a single-phase meter has risen from approximately N117,000 to as much as …

The National Bureau of Statistics (NBS) said electricity Distribution Companies (DisCos) collected N391.72 billion revenue in the second quarter of 2024 (Q2 2024). Its document titled: “Electricity Report Q2 2024”, which made the disclosure also said the revenue increased by 48.90% on a year-on-year basis from N263 billion the corresponding quarter of 2023. NBS said: “Revenue collected by the DISCOs …

Efforts by the Federal Government to ramp up power generation seem to be suffering a setback following the refusal of the electricity distribution companies (DisCos) to off-take the power allocated to them. The Minister of Power, Adebayo Adelabu, decried the rejection of power by electricity distribution companies, describing it as regrettable. He disclosed this in a statement on Sunday. According …

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 …

The Federal Government vowed on Monday to sell off the five electricity Distribution Companies (DisCos) in the next three months to reputable technical power operators. The DisCos are under the management of banks and Asset Management Company (AMCON). Abuja Electricity Distribution Company (AEDC) is currently under the management of the United Bank of Africa (UBA), Fidelity Bank manages Benin Electricity …

The Federal Government paid about N205 billion as electricity subsidy in the third quarter of last year, according to data obtained from the Nigerian Electricity Regulatory Commission (NERC), latest report. The commission’s third quarterly market report revealed that the government incurred a subsidy obligation of about N205 billion in 2023/Q3 (average of N68 billion per month), which is an increase …

Some electricity distribution companies have continued to blame technical faults and other challenges for their inability to supply 20-hour power to customers on Band A feeders. The DisCos on their various social media platforms had appealed to the customers in Band A, seeking their understanding for their failure to meet up with the required minimum service level. The Benin Electricity …

The Nigerian Electricity Regulatory Commission (NERC) has given the 11 electricity distribution companies till 11th April to refund customers wrongly billed at the new rate. The commission’s Deputy General Manager of market Competition and Rates, Mr. Abba Terab, disclosed this in a document made available to journalists on Saturday in Lagos. NERC directed the DisCoS to refund the money the …