DisCos Record N44.27bn Revenue Shortfall As Ikeja, Eko Exceed Targets

The Electricity Distribution Companies (DisCos) collected a total of N210.92bn in revenue out of the N255.19bn billed to customers in October 2025, a report from the Nigerian Electricity Regulatory Commission (NERC) has disclosed.

According to the latest commercial performance factsheet released by NERC, the figures indicate a revenue shortfall of N44.27bn.

NERC’s data shows that while total billings rose by 5.65 per cent month-on-month to N255.19bn, actual revenue collected increased at a faster pace of 7.48 per cent to N210.92bn.

This resulted in an average collection efficiency of 82.66 per cent, an improvement of 1.40 percentage points compared to September 2025.

The commission, however, noted that the gains were insufficient to close the widening gap between billed revenue and cash inflows.

According to the report, out of the 11 DisCos, Ikeja Electric was the only operator that exceeded its billing target, collecting N42.11bn against billings of N41.26bn.

This, the report stated, translated to a collection efficiency of 102.07 per cent.

The performance was attributed to the recovery of outstanding debts from previous months.

Also, Eko DisCos recorded a strong performance, collecting N37.67bn out of N40.29bn billed, with a collection efficiency of 93.50 per cent, while Abuja DisCo posted collections of N34.39bn from billings of N38.93bn, achieving 88.35 per cent efficiency.

However, several DisCos recorded significant revenue leakages.

The report stated that Jos DisCo collected only N5.26bn out of N13.50bn billed, representing a collection efficiency of 38.98 per cent and a shortfall of N8.24bn.

According to the report, Jos DisCos recorded the largest relative gap among all operators.

During the month, Kaduna DisCo collected N5.43bn from N12.63bn billed, leaving a revenue gap of N7.20bn and a collection efficiency of 43.03 per cent.

Also, Kano DisCo recorded collections of N10.22bn against billings of N17.42bn, resulting in a shortfall of N7.20bn and an efficiency rate of 58.67 per cent.

Other DisCos that posted sizeable shortfalls include Ibadan DisCo, which collected N22.56bn out of N26.70bn, and Enugu DisCo, which recorded collections of N16.91bn from N20.95bn billed.

NERC’s factsheet further reveals that the sector’s revenue challenges were compounded by weak recovery performance.

According to NERC, the allowed average tariff for October stood at N116.25 per kilowatt-hour, while the actual average collection was N95.89 per kilowatt-hour, translating to a recovery efficiency of 82.49 per cent.