The Nigerian Electricity Regulation Commission (NERC) has said the federal government paid the sum of N36bn to subsidise electricity consumption in the first quarter of 2023.
In its quarterly report, NERC said the money amounted to the payment of N12bn monthly which was paid to the Nigerian Bulk Electricity Trading (NBET). With the NBET charged with the collection of revenues due to generation companies and the Transmission Company of Nigeria from the DisCos, the sum of N141.5bn was paid to the NBET from the N209.2bn invoice given to the DisCos.
Recall that the total revenue collected by the 11 Distribution Companies (DisCos) in the first quarter was N247bn from the N359.3bn billed to customers.
A breakdown indicated that Abuja DisCo paid N20bn from the N32.8bn it was billed, while Benin DisCo paid N14.4bn from the N17.8bn, Eko Disco paid N19.4bn from the N22.8bn it was charged and Enugu DisCo paid N15.72bn from its N20bn.
Ibadan Disco paid N17.5bn from its invoice of N24.5 billion, Ikeja DisCo paid N29.6bn from the N35.9bn given to it, Jos Disco paid N7.bn from the 8.8bn it was billed, Kaduna DisCo paid N1.8bn from the N15.3 bn. given to it, Kano paid N6.1 from its N15.bn.
