News
Nigerian DisCos Generate ₦291.62 Billion in Q1 2024 Amid Reduced Power Supply
The National Bureau of Statistics (NBS) has reported that Nigeria’s electricity distribution companies (DisCos) amassed ₦291.62 billion in revenue in the first quarter (Q1) of 2024.
This is a 17.91 percent increase from the ₦247.33 billion recorded in the same period of 2023.
Despite the revenue growth, there was a notable decline in power supply. The electricity provided dropped from 6,432.22 gigawatt-hours (GWh) in Q4 2023 to 5,769.52 GWh in Q1 2024.
Compared to Q1 2023, when the supply was 5,851.87 GWh, this marks a 1.41 percent decrease.
Additionally, the total number of customers rose to 12.33 million in Q1 2024, up 1.78 percent from 12.12 million in Q4 2023. Year-on-year, this reflects a 9.47 percent increase from the 11.27 million customers reported in Q1 2023.
Metered customers also experienced growth, reaching 5.91 million in Q1 2024, which is a 5.38 percent rise from 5.61 million in the previous quarter and an 11.26 percent increase from 5.31 million in Q1 2023.
Lagos State Police react to claims of them taking money from dispatch riders on the Coastal Road in Lagos.
It started after a rumour was shared that police arrest and take money from riders as a demand for high bribes, sometimes reaching ₦200,000, and seize motorcycles if not given.
The Police Public Relations Officer, SP Benjamin Hundeyin, then addressed the claims online and stated in his statement that he disagreed that the rumour is true and stated, “The spread of misinformation only causes more harm than good. In this era, we can and must do better.”
It has been announced by the governor of Ogun that Tuesday 3rd of February is a public holiday in order to mark the 50th anniversary of the state creation.
This public holiday declaration was released in a statement by the secretary of the state, Tokunbo Talabi.
He then added that the holiday will provide as a day for the citizens to participate in the activities for the state milestone.
Former Kogi politician, Dino Melaye, faces backlash from the public after he shared a video on social media of him abroad and living well through his luxurious lifestyle.
In the same video, he speaks about Nigeria’s current economy and shares his disappointment.
He wrote, “See country, God help us to build a true nation where our wicked leaders will be in jail and the right people in power. Nigeria must be fixed. YES WE CAN.”
However, many state that what he posted and what he is saying contradict each other, and they accused him of sharing his own records to know if he was a corrupt leader.
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