DisCos Revenue Hits N630.93bn in Q4 2025, NERC Reports

In the fourth quarter of 2025, Distribution Companies (DisCos) in Nigeria collected a total revenue of N630.93 billion, as reported by the Nigerian Electricity Regulatory Commission (NERC). This amount represents a collection efficiency of 79.36%, which is a decrease of 1.35 percentage points compared to Q3 2025, where the efficiency was 80.70%.

The report highlights that the Aggregate Technical, Commercial, and Collection (ATC&C) losses across DisCos stood at 34.90%, which is 14.36 percentage points higher than the 2025 Multi-Year Tariff Order (MYTO) target of 20.54%. Cumulatively, the revenue loss across DisCos amounted to N139.193 billion, with an increase of 1.63 percentage points in ATC&C losses compared to Q3 2025.

Notably, all DisCos, except Eko, failed to meet their ATC&C targets during this quarter, with Kaduna DisCo recording the worst performance at 69.45% against a target of 21.32%. The report also mentions cumulative payments made by three international bilateral customers to the power grid, totaling $10.895 million against $20.44 million invoiced for services rendered in Q4 2025.