Nigeria's electricity revenue has nearly quadrupled since 2015, growing from ₦279 billion to ₦1.07 trillion in 2023

Nigeria’s electricity distribution companies (DISCOs) generated ₦1.07 trillion revenue in 2023 — double 2020's amount and 3.8x that of 2015. From 2015 to 2023, revenue has grown from ₦279b to ₦1.07t, while customer base has increased by over 5m, from 7m to 12.1m.

Source:

National Bureau of Statistics

<div style="text-align: center;"><a href="https://intelpoint.co/insights/nigerias-electricity-revenue-has-nearly-quadrupled-since-2015-growing-from-%e2%82%a6279-billion-to-%e2%82%a61-07-trillion-in-2023/" title="Nigeria&#039;s electricity revenue has nearly quadrupled since 2015, growing from ₦279 billion to ₦1.07 trillion in 2023"><img src="https://intelpoint.co/wp-content/uploads/2024/04/Nigerias-electricity-revenue.jpg" style="width: 80%; height: auto; max-width:960px;-ms-interpolation-mode: bicubic; margin: 0 auto; display: block;" alt="Chart: Nigeria's electricity revenue has nearly quadrupled since 2015, growing from ₦279 billion to ₦1.07 trillion in 2023"/></a><br><span>Find more insights at <a href="https://intelpoint.co/insights?utm_source=Insight%20Embed&utm_medium=HTML&utm_campaign=Nigeria%27s+electricity+revenue+has+nearly+quadrupled+since+2015%2C+growing+from+%E2%82%A6279+billion+to+%E2%82%A61.07+trillion+in+2023" target="_blank" style="color: #4f9acc; text-decoration: none;">Intelpoint</a>.</span></div>Copied to clipboard!

Period:

2015 - 2023

HTML code to embed chart

Want a bespoke report?

Reach out

Related Insights

Eskom’s average electricity tariff in cents per kilowatt hour (c/kWh), 2013/14—2023/24

Eskom’s average electricity tariff increased by approximately 162% between 2013/14 and 2023/24.
Tariffs are categorized into two groups based on distribution: Local Authority Tariffs and Non-Local Authority Tariffs.
Landlight Tariff (Non-Local Authority category) is the highest rate and in 2023/24 it stood at 608.61 c/kWh.
Homelight 20A (Block 1) is the lowest tariff also in the non-local authority category, at 168.78 c/kWh in 2023/24.
Eskom applies Time-of-Use (ToU) pricing, where tariffs vary by Time of day (peak, standard, off-peak periods) and Demand season (high-demand season: June to August and Low-demand season: September to May)

Nigeria has achieved a metering rate of 47%, with Ikeja DisCo leading the way at an impressive 78% progress

Ikeja DisCo leads with a 78.45% metering rate, having metered over 1.03 million customers.
Abuja DisCo follows closely with a 71.60% metering rate and over 924,000 metered customers.
Ibadan has the highest number of registered customers, but only a 44.23% metering rate.
Kaduna and Kano have alarmingly low metering rates of 24.92% and 24.77%, respectively.
Yola DisCo has the lowest metering rate at just 14.45% of its 824,700 customers.
Eko DisCo has a relatively high metering rate of 63.92% despite having fewer registered customers.
Only 4 out of 13 DisCos have metered at least half of their customer base as of March 2025.

While Kano soared with 331% growth in Q1 2025, Ibadan's deployments hit 42,685, marking a superior numerical increase of 5,596

Kano DisCo recorded the highest increase in metered customers with a 330.75% rise in just one quarter.
Aba DisCo more than doubled its metered customers, increasing by 116.87%.
Ikeja DisCo, despite being a top performer overall, saw a 23.62% drop in meter installations.
Enugu and Eko also recorded declines in quarterly deployments by 12.31% and 4.02% respectively.
Ibadan DisCo deployed the highest number of meters in Q1 2025 but grew at a moderate rate of 15.09%.
Yola DisCo experienced the steepest decline in the country, dropping by 56.70% in metered customers.

Cape Verde has the highest electricity fluctuations, averaging 6056.4 kWh

The Gambia, Guinea-Bissau, Niger, Sierra Leone, and Guinea had the most stable electricity supply from 2000 to 2021.
Cape Verde experienced the highest electricity fluctuations, with values ranging from 2981.5 kWh/person to 7692.9 kWh/person.
Nigeria, Ghana, Benin, Mali, and Cape Verde had the most unstable electricity supply, with significant year-to-year variations.
Nigeria’s electricity supply averaged 2161.7 kWh/person but remained highly inconsistent, fluctuating between 1250.4 and 2707.9 kWh/person.
Mali had the lowest electricity availability among unstable nations, averaging 757.4 kWh/person, with a drop as low as 350.7 kWh/person.
Countries with stable electricity had lower fluctuations, with The Gambia leading at 957.8 kWh/person and Guinea reaching 1110.8 kWh/person.

Nigeria's national grid has collapsed 12 times in 2024

Nigeria's national grid has experienced 12 collapses so far in 2024, a troubling trend that reveals the fragility of the country's energy infrastructure. The timeline highlights intervals ranging from as short as one day to as long as 82 days between incidents. Notably, two consecutive collapses occurred on October 14 and October 15, while a total of 9 collapses occurred in the second half of the year. Yesterday's collapse came 35 days after November 7, when the grid went down for the 11th time.

71% of households in Nigeria’s North East lack access to electricity

Nearly half (46%) of Nigerian households struggle with electricity access, with the Northern region facing the most significant challenges. The three Northern geopolitical zones have access rates below the national average, whereas South East Nigeria has the highest access, with only 25.4% of households lacking electricity.