Abuja, Nigeria – Nigeria’s electricity distribution companies (DisCos) lost N174.12 billion (approximately $121 million USD) in the fourth quarter of 2025 due to billing inefficiencies.
A new report from the Nigerian Electricity Regulatory Commission (NERC) revealed that a significant portion of the electricity supplied to these companies did not translate into revenue. The findings highlight persistent financial and structural challenges in the country’s power sector.
The report showed that while the DisCos received energy valued at N969.19 billion, they only billed customers for N795.06 billion. This resulted in an aggregate billing efficiency of just 82.03 percent for the quarter, a slight decrease from the previous period. These losses underscore the ongoing struggle to ensure financial sustainability within the electricity value chain.
According to Okay News, these inefficiencies limit the ability of power companies to recover costs and invest in much-needed infrastructure upgrades. The performance varied widely among the eleven distribution companies, with Eko DisCo recording the highest billing efficiency at nearly 95 percent, while Yola DisCo had the lowest at just under 63 percent.
NERC stated that the significant gap between energy supplied and revenue collected reflects distortions in energy allocation and poor accounting systems. The persistent revenue shortfalls continue to affect service delivery and the overall stability of Nigeria’s electricity market, posing a major hurdle to reliable power access for the public.
 lost N174.12 billion (approximately $121 million USD) in the fourth quarter of 2025 due to billing inefficiencies.){kind=link}