The Nigerian Electricity Regulatory Commission (NERC) reported that electricity Distribution Companies (DisCos) collected ₦630.93 billion in revenue during the fourth quarter of 2025 from a total of ₦795.06 billion billed, reflecting a collection efficiency of 79.36%. This marks a 1.35 percentage point decline from the previous quarter, which recorded 80.70%. The weighted Aggregate Technical, Commercial and Collection (ATC&C) loss for all DisCos stood at 34.90% in Q4 2025, rising from 33.27% in Q3 and exceeding the 2025 MYTO target of 20.54% by 14.36 percentage points. This loss translated to a revenue shortfall of ₦139.193 billion across the sector. All DisCos except Eko DisCo failed to meet their ATC&C loss targets, with Kaduna DisCo performing the worst at 69.45% actual loss against a 21.32% target. Domestic bilateral customers paid ₦3,514.06 million of the ₦4,172.11 million invoiced, achieving an 84.23% remittance rate. International bilateral customers settled $10.895 million of a $20.44 million invoice for services rendered in the quarter.
Kaduna DisCo's ATC&C loss of 69.45%—more than triple its 21.32% target—stands out as the most severe underperformance, exposing deep operational flaws in one of the country's key power distribution zones. The fact that all DisCos except Eko missed their loss targets, coupled with declining collection efficiency and rising revenue losses, points to systemic dysfunction in billing, infrastructure, and customer payment compliance. Ordinary Nigerians bear the cost through persistent power shortages and rising tariffs, even as DisCos fail to account for over a third of generated electricity. This pattern of underperformance, now documented across consecutive quarters, reflects a sector still struggling to deliver value despite years of restructuring and regulatory oversight.
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