Connect with us

News

Nigerian DisCos Generate ₦291.62 Billion in Q1 2024 Amid Reduced Power Supply

Published

on


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.

Advertisement

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.


 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Sowore Criticizes Northern Leaders for Shutting Schools Down During Ramadan

Published

on

Photo source: Google

Omoyele Sowore has criticized northern leaders for shutting down schools to allow children to participate in Ramadan fasting. The decision, implemented in Bauchi, Katsina, Kebbi, and Kano States, has caused criticism from many Nigerians.

Sowore, a well-known Nigerian activist, accused the leaders of hypocrisy, claiming that their children are not affected by the policy since they attend expensive private schools in Abuja or study abroad.

In a statement on his Facebook page, Sowore condemned the move, saying, “Those who decided to shut down schools for Ramadan fasting don’t have their children in these struggling public schools.

Their kids attend top private schools or study overseas, funded by resources meant to support underprivileged students in these poorly maintained schools, which remain open during Ramadan. These leaders are irresponsible and unfair.”


 

Advertisement
Continue Reading

News

Trump Says He’s Buying a Tesla to Show Support for Elon Musk and His Company

Published

on

Photo source: Google

President Donald Trump has announced plans to purchase a new Tesla vehicle to demonstrate his support for Elon Musk amid recent boycotts and a significant drop in Tesla’s stock value.

On his Truth Social platform, Trump praised Musk’s contributions to the nation and criticized efforts to harm the entrepreneur and his company. He stated, “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American.”

In response, Musk expressed gratitude to the president on his social media platform, X. Musk currently leads the Department of Government Efficiency (DOGE) under the Trump administration, focusing on reducing federal spending and workforce.

This initiative has caused protests and boycotts targeting Tesla, with incidents of vandalism reported at dealerships and charging stations.

Tesla’s market value has declined sharply, with shares dropping over 15% recently, influenced by Musk’s political involvement and its impact on consumer sentiment. Despite these challenges, Trump continues to voice strong support for Musk’s efforts to “Make America Great Again.”

Advertisement

 

Continue Reading

News

Trump says Tariffs Will Make Us Richer and Create More Jobs

Published

on

Photo source: Google

Former U.S. President Donald Trump has predicted that the country will become extremely wealthy through tariffs.

Trump stated that the U.S. is set to gain hundreds of billions of dollars from tariffs soon. He believes the move will encourage companies and factories to return to the U.S., creating more jobs.

Speaking with FOX Business’ Maria Bartiromo on Air Force One on Sunday evening, Trump responded to concerns about a possible recession. He admitted there’s always hesitation but remained confident about the benefits of the tariffs.

“All I know is we’re going to make hundreds of billions of dollars from tariffs, and we’ll become so rich you won’t even know where to spend it all,” Trump said. “Just watch — there will be more jobs and open factories. It’s going to be great.”

Trump has recently placed tariffs on key trade partners, including Canada, Mexico, and China, as part of his economic strategy.

Advertisement

 

Continue Reading

Trending