The Nigerian Electricity Regulatory Commission (NERC) generated total estimated revenue of N7.2bllion as Market Charges(MC) and internal Generated Revenue(IGR) for the fourth quarter of 2021 (Q4, 2021).
This was revealed in an analysis of the data for the four quarters provided by the industry regulator, and obtained by EnergyDay at the weekend.
EnergyDay gathered that NERC’s total revenue increased by 63.99 percent in the Q4, 2021, with about ₦2,792.81million higher than the ₦4,364.67million revenue realised by the Commission in Q3, 2021.
NERC attributed the increase in revenue to the increase in operating levy which rose by ₦2,596.83million (+59.74%) from ₦4,346.67million realized in 2021/Q3 to ₦6,943.50million in 2021/Q4.
The Nigerian electricity industry regulator disclosed that the total (capital and recurrent) expenditure stood at ₦2,473.36million representing a ₦955.73 million (+62.98%) increment from the ₦1,517.63 million incurred during 2021/Q3.
This increase, according to the Commission, was largely attributable to the increased personnel cost that doubled between 2021/Q3 and 2021/Q4.
The data released by the Commission comparing the revenue and expenditure within the fourth quarter of 2021 revealed a positive net cash flow of ₦4,684.12million. However, the total outstanding liabilities at the end of the quarter stood at ₦4,361.18 million.