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Nigeria’s power distribution companies (DisCos) generated N208.78 billion in revenue in November 2025, according to the Nigerian Electricity Regulatory Commission (NERC).
The figure, published in NERC’s “DisCos commercial performance fact sheet” for November 2025, represents a 1.01 percent decline from the N210.92 billion recorded in October 2025, highlighting ongoing challenges in revenue recovery despite higher customer billing.
NERC said the revenue was realized after DisCos issued customer bills totaling N269.43 billion during the month. Billing performance improved significantly, rising 5.58 percent from the N255.19 billion billed in October, indicating increased energy sales and expanded billing coverage across networks.
However, collection efficiency weakened, slipping to 77.49 percent in November from 82.66 percent in October. This suggests that while more customers were billed, a smaller share of those bills was successfully collected, reflecting persistent issues such as payment delays, customer defaults, and metering gaps.
The regulator also reported a notable rise in the total value of energy received by DisCos, which climbed to N342.29 billion in November — a 12.65 percent increase from N303.85 billion in the previous month. This growth points to higher energy offtake from the grid, even as revenue realization struggled to keep pace.
NERC further disclosed that the average recoverable tariff across DisCos stood at N124.30 per kilowatt-hour, while the actual average collection was approximately N90.09 per kilowatt-hour, underscoring a widening gap between cost-reflective tariffs and real cash inflows.
On utility performance, Eko DisCo emerged as the top performer, posting a revenue collection efficiency of 91.67 percent. It was followed by Ikeja DisCo at 89.72 percent and Abuja DisCo at 74.78 percent.
At the lower end of the spectrum, Kaduna DisCo recorded the weakest performance, with a collection efficiency of just 33.24 percent. Jos DisCo and Ibadan DisCo also underperformed, reporting recovery rates of 51.84 percent and 59.75 percent, respectively.
The data highlights the growing imbalance between energy supplied, bills issued, and revenue collected, a challenge that continues to shape Nigeria’s power sector sustainability.
