Power Sector And Related News Story For Tuesday April 18th 2023

Posted by News Room April 18, 2023

Number Of Metered Electricity Customers Hits 5.13m 

Latest data by the National Bureau of Statistics has shown that the rate of metered electricity customers stood at 5.13 million in the fourth quarter of 2022 from 5.02 million in Q3 2022, indicating a 2.00 percent growth rate. 

Nevertheless, on a year-on-year basis, this grew by 7.37 percent from 4.77 million in Q4 2021 

From that figure, the 11 electricity distribution companies (DisCos) generated N232.32 billion revenue in the Q4 2022 period, compared to N202.62 billion in Q3 2022. 

The total number of estimated customers was 5.93 million in Q4 2022, higher by 0.34 percent from the 5.91 million reported in Q3 2022. On a year-on-year basis, this rose by 3.34 percent in Q4 2022 from the figure reported in Q4 2021, the NBS report showed. 


Tackling Manpower Shortage in Power Industry 

Like most sectors in the Nigerian economy, the power sector is to a large extent under-skilled, a gap that easily reflects in the state of the industry in the country. Emmanuel writes on the efforts to close this gap. 

 At several fora, operators in the power sector have raised the alarm over the shortage of  engineers needed to solve energy challenges in Nigeria. 

While several other sectors suffer almost the same fate, it’s easily noticed in the electricity supply value chain because of its critical nature and how it powers every other segments of the economy. 


Electricity Customers Increase to 10.94m in Q3 2022 

The National Bureau of Statistics (NBS) says the number of Electricity Distribution Companies (DisCos) customers in Nigeria increased from 10.81 million in Q2 2022 to 10.94 million in Q3 2022. 

According to the NBS Nigeria Electricity Report for Q3 and Q4 2022 released in Abuja on Monday, the figure showed an increase of 1.20 percent. 

The report focuses on energy billed, revenue generated and customers by DISCOS under the reviewed period. 



Energy Summit: PIA Passage Our Greatest Energy Sector Achievement – Buhari 

President Muhammadu Buhari has said the $2.8billion Ajaokuta-Kaduna-Kano AKK natural gas pipeline project, is currently at 43 per cent completion. 

The president also said the actualisation of the Petroleum Industry Act (PIA) 2021 was his administration’s biggest achievement in the energy sector. 

Buhari spoke in Abuja at the opening ceremony of the 6th edition of the Nigeria International Energy Summit (NIES) theme: Global perspectives for a sustainable future”. 

The AKK project, when completed, is expected to transport up to 3500 million cubic feet of gas daily from various gas gathering projects, help to generate 3.6 gigawatts of power and support gas-based industries along the route. 


Nigeria’s DisCos Generated N434 Billion in Q3, Q4 2022 – Report 

The Electricity Distribution Companies (DisCos) operating in Nigeria’s electricity supply industry generated N434.94 billion in revenue in the third and fourth quarters of 2022, data obtained from the National Bureau of Statistics (NBS) has shown. 

The bureau revealed this in its “Nigeria Electricity Report”, detailing revenue generated by DisCos in the third and fourth quarters of 2022, released on Monday. 

The NBS said in terms of revenue, N232.32 billion was generated by the DisCos in Q4 2022 compared to N202.62 billion in Q3 2022. 


Africa is Energy Poor, Needs Funds, Infrastructure- AfDB 

The African Development Bank Group (AfDB) says Africa is energy poor and requires a significant inflow of infrastructure investment and funds to achieve its energy goal. 

Akinwumi Adesina, president, of AfDB said this at the 2023 Nigeria International Energy Summit (NIES) currently holding in Abuja from April 16-20 with the theme “global perspectives for a sustainable energy future.” 


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