Key Points
- The Nigerian Electricity Regulatory Commission (NERC) has released the February 2026 Commercial Performance Factsheet for Distribution Companies (DisCos).
- Billing efficiency for the month reached 87.44%, with the total value of energy billed amounting to ₦242.29bn.
- DisCos recorded a collection efficiency of 81.17%, gathering ₦196.68bn in total revenue for February.
- New ATC&C loss targets for 2026 have been approved at an average of 16.64% to account for infrastructure investments made in 2025.
- The average revenue recovery efficiency across all electricity distribution companies stood at 80.67%.
Main Story
The Nigerian Electricity Regulatory Commission (NERC) has published its February 2026 factsheet, detailing the financial and operational health of the nation’s power distribution sector.
The report indicates a total energy billing of ₦242.29bn, maintaining a billing efficiency of 87.44%. Revenue collection remained a critical focus, with ₦196.68bn recovered from consumers during the month, reflecting a 4.84 percentage point improvement compared to the previous month.
A significant development in the report is the adjustment of Aggregate Technical, Commercial and Collection (ATC&C) loss targets.
The Commission has approved a reduced average target of 16.64% for 2026, a move intended to reflect the increased efficiency expected following various DisCo investments throughout 2025.
Additionally, the average actual collection per kilowatt-hour (kWh) across the network was recorded at ₦100.27, against an allowed average tariff of ₦124.30.
Performance Metrics
- Total Energy Received: ₦277.09bn worth of energy was received by DisCos in February.
- Billing Efficiency: Improved by 7.72 percentage points from the previous month to reach 87.44%.
- Collection Efficiency: Total billings of ₦242.29bn resulted in ₦196.68bn collected, an 81.17% efficiency rate.
- Revenue Recovery: The overall recovery efficiency across the sector was 80.67%, an 11.51 percentage point increase from January 2026.
DisCo Performance Highlights
- Top Billing Efficiency: Kano DisCo led the group with 99.04% billing efficiency, followed by Eko DisCo at 97.20%.
- Highest Collection Efficiency: Eko DisCo recorded the highest collection efficiency at 94.12%.
- Revenue Recovery Leaders: Eko DisCo (100.67%) and Abuja DisCo (95.13%) were the only companies to exceed a 90% recovery rate.
- Struggling Units: Kaduna DisCo recorded the lowest collection efficiency (49.27%) and revenue recovery efficiency (41.20%).
The Issues
- There remains a ₦34.8bn gap between energy received (₦277.09bn) and energy billed (₦242.29bn).
- DisCos failed to collect ₦45.61bn of the total ₦242.29bn billed to customers in February.
- While the allowed average tariff is ₦124.30/kWh, the actual average collection was only ₦100.27/kWh.
- Performance varies drastically by region, with some DisCos showing recovery rates below 50% while others exceed 100%.
Bottom Line
Power Performance. NERC’s February 2026 data shows a strengthening in revenue recovery and billing efficiency across the board, though significant losses still exist between energy reception and final payment collection.
 has published its February 2026 factsheet, detailing the financial and operational ...){kind=link}