The NERC, the Nigerian Electricity Regulatory Commission, earned N5.63 billion.
This information was made public by the Commission earlier this week in its just-released Q2 2023 Electricity on Demand report.
In Q2 2023, it spent N2.46 billion on expenses.
The NERC report states that the Commission earned N5.63 billion in revenue in 2023/Q2, up N0.90 billion (19.12%) from the N4.73 billion in revenue in the quarter before (2023/Q1).
The Commission’s overall spending grew during this time by N0.66 billion (368.0%), from N1.80 billion in 2023/Q1 to N2.46 billion in 2023/Q2.
The Commission continued to have a positive net cash flow for the quarter of N3.17 billion.
The statistic demonstrated the Commission’s outstanding financial performance as it was the 16th consecutive quarter of positive cash flow.