Nigeria's electricity revenue in H1 2024 was 5.3x that of H1 2015

Over the years, Nigeria has seen significant increases in electricity revenue.

Revenue surged from ₦129 billion in 2015 to ₦683 billion in H1 2024, while the number of customers has doubled from 6.5 million to 13 million.

This 428% increase in revenue highlights rising consumption and tariff hikes.

Source:

National Bureau of Statistics

Period:

H1 2015-H1 2024
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Lagos alone consumes 26% of the total supply of power from the national grid
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14 African countries have less than 50% of their population with electricity
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Coal dominated South Africa’s electricity source with over 80% share in 2023
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Eskom electricity tariff—categories and rates (2023/24, c/kWh)
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  • Load shedding has become a persistent challenge, with 2023 experiencing the highest number of load shedding days — 332 days in total.

  • Eskom accounts for about 80% of electricity distributed in South Africa.
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