Latest commercial performance factsheet released by the Nigerian Electricity Regulatory Commission (NERC) has revealed that distribution companies (DisCos) recorded a revenue shortfall of more than N45 billion in September 2025, after collecting N196.26 billion out of the N241.54 billion billed to customers during the month.

The data show that while the DisCos received energy worth N279.45 billion in September, they billed N241.54 billion, representing a billing efficiency of 86.43 per cent, a 2.58 percentage-point improvement from August 2025.

However, the revenue collected during the period amounted to N196.26 billion, indicating a collection efficiency of 81.25 per cent, also up by 1.18 percentage points.

The gap between total billings and revenue collected reflects a N45.28 billion shortfall, underscoring the continuing strain on commercial performance across the distribution value chain.

The factsheet reveals significant differences in billing and collection outcomes among the 11 DisCos, with Eko DisCo, at 94.40 per cent, Ikeja, at 96.43 per cent, and Benin, at 91.90 per cent, recording some of the highest collection efficiency levels.

Kaduna, with 40.48 per cent, Kano, with 62.46 per cent, and Yola, with 67.95 per cent, recorded the lowest rates, contributing noticeably to the national shortfall.

Overall, NERC’s September 2025 commercial performance data shows general month-on-month improvements in billing efficiency, collection efficiency, and recovery efficiency. However, the N45 billion revenue shortfall between what was billed and what was collected indicates ongoing financial pressures within the distribution segment.

On billing efficiency, Aba, Eko and Ikeja remained among the top performers at 102.85 per cent, 99.04 per cent, and 96.46 per cent, respectively, while Benin and Yola recorded the weakest billing outcomes at 65.25 per cent and 65.36 per cent.

The factsheet also shows that the allowed average tariff for September stood at N116.34/kWh, while the actual average collection was N97.09/kWh, resulting in a recovery efficiency of 83.45%, an improvement of 3.67 percentage points compared to August.

Across the DisCos, recovery efficiency varied widely, with Eko at 106.20 per cent, Ikeja at 104.47 per cent, and Abuja at 87.66 per cent ranking highest, while Kaduna at 36.89 per cent, Benin at 71.45 per cent, and Yola at 74.88 per cent trailed behind.