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DisCos Generate N597.6bn Revenue in Q1 2026 Amid Ongoing Power Supply Challenges

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Electricity Distribution Companies (DisCos) in Nigeria generated a total of N597.55 billion in revenue during the first quarter of 2026 despite persistent power supply challenges and consumer complaints over service delivery.

DisCos Generate N597.6bn Revenue in Q1 2026 Amid Ongoing Power Supply Challenges

The figures are contained in the latest commercial performance factsheets released by the Nigerian Electricity Regulatory Commission (NERC).

According to the data, the 11 electricity distribution companies collectively recorded N204.74 billion in revenue in January, N196.68 billion in February and N196.13 billion in March, bringing total collections for the three-month period to N597.55 billion.

The report showed that the companies maintained an average monthly revenue collection of about N199.18 billion during the period.

NERC’s data revealed varying levels of commercial performance among the distribution companies, with differences in billing efficiency, collection efficiency and revenue recovery rates.

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In January, the DisCos billed customers N268.20 billion and recovered N204.74 billion, leaving N63.46 billion in unpaid bills.

The sector recorded a billing efficiency of 79.72 per cent and a collection efficiency of 76.34 per cent during the month.

In February, total billings stood at N242.29 billion, while collections amounted to N196.68 billion, resulting in an outstanding balance of N45.61 billion.

Billing efficiency improved to 87.44 per cent, while collection efficiency rose to 81.17 per cent.

For March, total billings reached N246.43 billion, with revenue collections of N196.13 billion, leaving a shortfall of N50.30 billion.

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Billing and collection efficiencies for the month were recorded at 83.89 per cent and 79.59 per cent respectively.

The report also highlighted significant volumes of unbilled energy across the quarter, indicating ongoing operational and commercial challenges within the electricity distribution segment.

Among the top-performing firms were Eko Electricity Distribution Company and Ikeja Electric, which consistently posted stronger revenue recovery rates.

Eko DisCo notably achieved a recovery efficiency of over 100 per cent in February, according to the report.

However, some operators continued to face collection challenges.

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Kaduna Electricity Distribution Company recorded one of the lowest recovery efficiencies during the review period, posting 41.20 per cent in February.

The NERC commercial performance report tracks key indicators including energy received, energy billed, total billings, revenue collections and recovery efficiency to assess the operational and financial health of electricity distribution companies.

The revenue performance comes against the backdrop of continued complaints from electricity consumers over high tariffs, estimated billing, inadequate metering and frequent power outages.

Nigeria also experienced significant power supply disruptions during the first quarter, largely attributed to gas supply constraints affecting electricity generation.

Industry data indicated that electricity generation at some points declined from about 4,000 megawatts to below 2,000 megawatts due to shortages in gas supply to thermal power plants.

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Operational data from the Nigerian Independent System Operator showed that thermal plants require about 1.63 billion standard cubic feet of gas daily to operate optimally.

However, actual gas supply as of Feb. 23, 2026, stood at approximately 692 million standard cubic feet per day, representing less than 43 per cent of required demand.

The shortfall forced several generating plants to reduce output or shut down operations, prompting the Transmission Company of Nigeria (TCN) to implement load-shedding measures across the national grid.

Industry stakeholders have continued to advocate improved metering, stronger measures against energy theft and enhanced customer service to improve sector efficiency and revenue collection.

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FG Launches C.L.I.C.K.D., Consumer Credit Scheme for Tech Devices

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Federal government has launched Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), a new consumer credit initiative,  to provide affordable financing for locally assembled laptops and other digital devices.

FG Launches C.L.I.C.K.D., Consumer Credit Scheme for Tech Devices

L-R: Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, and Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, at the launch

The initiative by the Nigerian Consumer Credit Corporation (CREDICORP) and the Federal Ministry of Communications, Innovation and Digital Economy, is aimed at equipping Nigerians with the tools needed to participate in the country’s growing digital economy.

During the launch, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, described access to credit as critical to improving productivity and driving economic growth.

Dr Tijani said no nation could achieve sustainable development without a strong credit system that enables individuals and businesses to access resources needed to become more productive.

He noted that in today’s digital age, technology has become indispensable for education, innovation and wealth creation.

The minister explained that many talented young Nigerians possess the skills required to succeed in the digital economy but remain constrained by their inability to own computers and other digital tools.

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Drawing from his personal experience, Dr Tijani recalled how his first laptop as a student in the university opened doors to international opportunities and eventually inspired him to establish one of Nigeria’s pioneering technology hubs.

He said the new programme would ensure that more young Nigerians are not denied similar opportunities because of financial barriers.

According to him, the initiative aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy by expanding access to technology, boosting productivity and supporting local manufacturing.

Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, described the programme as a strategic investment in Nigeria’s future workforce and digital transformation.

Mr Nwagba said that while improvements in internet connectivity and digital skills training have positioned Nigeria for the Fourth Industrial Revolution, access to devices remains a major challenge preventing many young people from fully participating in the digital economy.

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He explained that C.L.I.C.K.D. would bridge that gap by providing affordable consumer credit that enables beneficiaries to acquire laptops and other internet-enabled devices while they develop in-demand digital skills

 

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FG to Support 12 Tech Startups with N482m under iDICE 

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Federal government has launched a N482.4 million investment fund to support 12 tech-enabled Nigerian startups.

FG to Support 12 Tech Startups with N482m under iDICE 

The initiative under the federal government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) Programme was implemented by the Bank of Industry (BoI).

The initiative in a statement said applications have been opened for Growth Lab, a 12-week acceleration programme that will select the 12 tech-enabled Nigerian startups, from the six geopolitical zones, for intensive growth support, investment readiness training, and access to up to $350,000 in funding.

According to Ife Adebayo, national coordinator of the Programme,  growth lab was designed to support startups that have achieved early traction and are seeking the expertise, networks, and investment required to scale following the implementation of Founders Lab.

“Growth Lab is the Startup Bridge accelerator programme, designed for startups that have developed an MVP and require structured support to scale. The programme focuses on strengthening venture fundamentals and preparing companies for external investment.

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“The programme targets startup founders who are seeking the support, networks, expertise, and investment readiness required to accelerate growth and strengthen their position within the Nigerian innovation ecosystem,” he said.

He added that selected founders will gain access to structured growth support, investment readiness preparation, access to industry experts, market expansion pathways, a $100,000 cash investment (or Naira equivalent) for 7.5% equity upon entering the programme (terms and conditions apply), and up to $250,000 in potential follow-on investment should certain growth conditions be met.

“Eligible startups must be at the post-MVP stage, demonstrate evidence of market validation through users, customers, pilots, partnerships, waitlists or any other demand signals, and be willing to participate fully in the hybrid programme,” he said.

The programme will run as an intensive 12-week hybrid experience, including virtual engagements and two physical weeks in Lagos focused on collaboration, learning, and business growth.

The statement said applications opened on July 15, 2026, and will close on August 19, 2026.

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According to him, female founders are strongly encouraged to apply. Selection will be conducted through a clearly defined, merit-based evaluation process aligned with published criteria.

iDICE is a $618 million federal government initiative backed by international lenders to boost the technology and creative sectors.

It provides young entrepreneurs with business skills training, mentorship, and access to capital through funds and accelerator programs like the iDICE Startup Bridge.

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Nigeria, United Kingdom Share Outcome of their Fourth Security and Defence Dialogue

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L-r: Dr Richard Montgomery, The British High Commissioner to Nigeria; Nuhu Ribadu, National Security Adviser to the Federal Government of Nigeria; Jonathan Powell, United Kingdom’s National Security Adviser and Mrs Gill Lever OBE, the British Deputy High Commissioner to Abuja.
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Nigeria and The United Kingdom held the fourth Security and Defence Partnership (SDP) Dialogue at the Office of the National Security Adviser (ONSA) in Abuja, recently. The dialogue, an important pillar of the bilateral Strategic Partnership, was opened by the National Security Adviser to the Federal Government of Nigeria, Nuhu Ribadu, and the United Kingdom’s National Security Adviser, Jonathan Powell.

Building on the third dialogue hosted in London in July 2025, the fourth SDP dialogue included inter alia, regional and domestic security challenges, human rights and non-kinetic solutions, defence staff talks, cyber and hybrid threats, as well as cross-government discussions on strategic trends, counter terrorism, fraud and illicit finance. Senior representatives from across the Governments of Nigeria and the United Kingdom participated, reflecting the breadth and extent of the partnership.

Nigeria and the United Kingdom agreed to deepen cooperation based on mutual accountability and delivery of commitments while working in a spirit of partnership.

Defence co-operation

The United Kingdom and Nigeria’s defence partnership continues to strengthen in the support of peace and stability in the region. Following on from the successes of previous SDP dialogues, the United Kingdom renewed its long-term commitment to Nigeria’s Armed Forces, including through efforts to counter the threat from Uncrewed Air Systems (UAS) and Improvised Explosive Devices (IED), via joint doctrine, training, technical advice and lessons learning, as well as exploring the development of Special Operations Forces.

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The United Kingdom reaffirmed its support for Nigeria’s Joint Doctrine and Warfare Centre, and for strengthening Nigeria’s Maritime Domain Awareness capability. Both parties recognised the success of the hydrography partnership. The United Kingdom committed to continue supporting the National Hydrographic Agency to enhance autonomy and regional influence.

Both governments underscored their shared commitment to deepening cooperation on maritime security in the Gulf of Guinea. Recognising the critical importance of regional stability and secure trade routes, both governments committed to aligning efforts to combat illicit maritime activities, and transnational threats. Nigeria and the United Kingdom also agreed to explore opportunities to strengthen their defence trade relationship.

Countering hybrid threats

Nigeria and the United Kingdom reaffirmed their cooperation on countering hybrid threats, including cyber security and Foreign Information Manipulation and Interference (FIMI). Both sides welcomed progress under the existing Cyber Memorandum of Understanding [2024 to 2027] and agreed to further collaboration on threat intelligence sharing and a new phase of targeted programme partnership.

In this context, the United Kingdom and Nigeria recognised the challenged posed to open societies by hybrid threat actors and our shared assessment. Both countries committed to advancing a new structured framework for cooperation on countering hybrid threats.

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This will include the advancement of concrete cyber resilience initiatives, a formalised intelligence-sharing mechanism, robust joint capability-building programmes, and cooperation on counter-hybrid threat strategies, in order to effectively counter mis/disinformation, cyber-attacks, transnational organised crime, and other hybrid threats, whilst upholding human rights and the rules-based international order. Both sides will seek to widen the conversation on hybrid threats.

Joint efforts will continue to build national capabilities, including through programme delivery and targeted support, while addressing developing risks, including from emerging technologies, and supporting Nigeria’s efforts to enhance its role in promoting regional resilience across West Africa.

Countering terrorism and violent extremism

Building on commitments agreed at the third dialogue, Nigeria and the United Kingdom agreed to deepen their partnership on counter terrorism and countering violent extremism. Both sides identified shared priority areas, including strengthening multi-agency coordination, enhancing intelligence and information exchange, as well as reinforcing crisis preparedness and protective security.

Both sides appreciated their continued collaboration on aviation security. The United Kingdom reinforced its support for capacity development efforts at Lagos and Abuja airports to build on progress made to date. Both sides agreed to continue working together in support of Nigeria’s efforts to roll-out the Multi-Agency Anti Kidnap Fusion Cell at the State level.

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Continued cooperation will support the operationalisation of Nigeria’s counter terrorism architecture, particularly the National Counter Terrorism Centre, alongside efforts to build capabilities in investigations, forensics and strategic communications. Both sides agreed to renew their support to Nigeria Police Force’s Counter Terrorism Unit with a technical needs assessment planned for late 2026.

Nigeria and the United Kingdom have renewed their commitment to preventing violent extremism through non-kinetic approaches including Disarmament, Demobilisation and Reintegration (DDR) and implementing a comprehensive, whole-of-society approach to building sustainable peace under Nigeria’s national security framework. They welcomed the development of a national policy framework on DDR, and the United Kingdom committed to continuing support to implement the framework at national and state levels following formal sign-off.

Recognising the importance of justice in effective responses to terrorism, the United Kingdom welcomed the commitment and concrete actions by Nigeria to expedite terrorism cases through remote court proceedings, alongside other latest efforts to counter terrorism.

This includes the ongoing phases of mass trials at the Federal High Court, demonstrating Nigeria’s determination to deliver timely, effective, and human rights-compliant investigations and prosecutions of terrorism crimes. Both countries also committed to work together on human rights compliance and recognised the importance of transparency, accountability and respect for human rights as integral to effective counter terrorism cooperation.

Human rights and non-kinetic solutions

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Nigeria and the United Kingdom reaffirmed the central role of human rights and non‑kinetic approaches in achieving sustainable security outcomes. Both sides welcomed progress since the third SDP dialogue and agreed to deepen cooperation on civilian protection, accountability, conflict prevention, and the Women, Peace and Security (WPS) agenda.

Both sides reviewed ongoing efforts, including Nigerian Armed Forces’ civilian harm mitigation measures, and underscored the importance of strengthening practices, ensuring transparent investigation of incidents, and embedding lessons learned to reduce harm and maintain public confidence. On accountability, both sides emphasised the need for robust mechanisms to investigate violations by both state and non-state actors.

The United Kingdom welcomed the involvement of the National Human Rights Commission with the Nigerian Air Force’s investigations into recent air strikes. The United Kingdom offered support to strengthen the National Human Rights Commission’s capacity to document and investigate abuses by non-state actors.

Recognising the importance of Nigeria’s upcoming national elections, both sides noted the importance of effective election security before, during and after polls, including efforts to protect voters and institutions, public order management in line with international standards, and reducing the risk of violence.

On preventing conflicts and violent extremism, both sides highlighted the importance of strengthening early warning and early response systems, improving coordination, and strengthening ability of peacebuilding agencies to ensure timely preventive action. On WPS, both sides welcomed progress on Nigeria’s third National Action Plan and committed to advancing participation, protection, and prevention, with the United Kingdom’s continued support for implementation. The United Kingdom offered continued technical assistance in support of Nigeria’s relevant national and state-level strategies in these areas.

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Both sides agreed to explore a National Counter Terrorism Centre led quarterly working-level mechanism, with the National Human Rights Commission, to track progress on session agreements and reaffirmed their shared commitment to accountability, transparency, and civilian protection.

Fraud and illicit finance

Building on commitments agreed at the third Security and Defence Partnership dialogue and the State Visit of President Bola Ahmed Tinubu to London thereafter, the United Kingdom and Nigeria reiterated their shared ambition to tackle fraud and illicit finance.

Both sides welcomed progress on strengthening cooperation, including efforts to enhance public–private partnerships, increase capabilities to jointly tackle fraud, improve asset recovery processes and oversight of virtual assets and cryptocurrencies, as well as recognised the growing relationship between illicit financial networks and hybrid threats.

Further collaboration will focus on enhancing mechanisms to support informal bilateral and international cooperation, including timely operational engagements on relevant requests, while addressing evolving fraud threats through strengthened intelligence exchange, joint analysis and coordinated enforcement action. A joint action plan will advance delivery against shared priorities.

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Both countries also committed to continued capacity building to support investigation, prosecution and judicial responses, reinforcing a coordinated approach to protect the members of the public in Nigeria and the United Kingdom from serious and organised fraud and financial crimes. Nigeria and the United Kingdom committed to continuing efforts to embody regional and global leadership on the issue of fraud.

Regional security co-operation

Nigeria and the United Kingdom exchanged views on the evolving regional and domestic security environment, noting the deteriorating situation in the Sahel and its impact across West Africa. Both sides reaffirmed Nigeria’s prominence and role as a key factor in promoting peace and stability across Africa over the years.

To this end, both sides agreed upon the importance of Nigeria leveraging its regional relationships and its participation in significant regional platform including through the Economic Community of West African States (ECOWAS) and emphasised the importance of continued outreach and collaboration with countries in the Alliance of Sahel States (AES).

The United Kingdom and Nigeria welcomed the analytical exchange on security and hybrid threats held in advance of the Forth SDP and committed to continuing these as part of future dialogues. Against this backdrop, both countries reaffirmed their intention to deepen cooperation on regional security.

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The United Kingdom welcomed the efforts of Nigeria on progress made towards transitioning the National Counter Terrorism Centre to a Regional Centre of Excellence. The United Kingdom expressed its continued support to Nigeria’s regional counter terrorism efforts and welcomed Nigeria’s decision to join the International CT Academy in Ivory Coast (AILCT) to share its expertise across West Africa and the Sahel. The importance of strengthening coordination, information sharing and burden-sharing between regional initiatives were recognised.

Both sides acknowledged the increasing cross-border nature of threats, alongside the impact of hybrid challenges on regional stability, and agreed to work together to support effective regional leadership and partnership.

Implementation and accountability

Finally, Nigeria and the United Kingdom emphasised the importance of sustained delivery and structured engagement to ensure progress on agreed priorities. Both sides agreed to maintain close coordination, through ongoing monitoring of implementation and continued cross-government collaboration.

To support this, officials were tasked to take forward agreed actions and to review progress ahead of the next Security and Defence Partnership Dialogue, to be hosted by the United Kingdom in 2027. It was agreed the Dialogue will continue to support delivery of the United Kingdom–Nigeria Strategic Partnership as well as provide a platform to strengthen cooperation across shared security and defence priorities.

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