Nigeria's projected 12.792 million registered consumers paid at least N1.367 trillion in power supply bills to the nation's 11 distribution firms, or DisCos, between November 2020 and September 2022.
This information was disclosed in a report recently issued by the Nigerian Electricity Regulatory Commission.
Out of a total bill amount of N1.958 trillion, customers owed N590.6 billion.
It continued by stating that a N1.7 trillion market shortfall occurred in the Nigerian Electricity Market (NEM) at that time.
Consumers were billed and money was collected under the Bands A, C, B, D, and Lifelines categories.
The highest billing was N748.9 billion from Band A customers (those who received more over 20 hours of electricity supply), while the highest revenue collection was N623.1 billion, or roughly 45% of the total revenue. However, there were N125.8 billion in unpaid customer debts.