Reports on the commercial performance of distribution companies obtained from the Nigerian Electricity Regulatory Commission has shown that the power firms raked in N95.26bn as revenue collections from their various customers in January 2024.
The reports further showed that the Power distribution companies made a total of N292.71bn revenue in the first quarter of this year despite complaints of inadequate electricity supply by consumers.
The NERC documents indicated that the 11 Discos had billed power users under their respective franchise areas a total of N130.92bn in January this year.
Recall that In February, the power firms billed their customers N113.05bn but collected a total revenue of N97.01bn.
The revenue collection by Discos increased in March to N100.44bn, out of a total billing of N126.56bn in the third month of the year.
But as electricity distributors smile to their banks, power producers, on the other hand, have continued to complain about the lack of adequate payment for the electricity they produce and supply to the national grid.
Similarly, consumers have also raised alarm over the poor supply of electricity across many locations in Nigeria by Discos.