Electricity Tariff: 85.2% of households in Nigeria are still on estimated billing – NBS

A new report by the National Bureau of Statistics (NBS) reveals that 85.2% of Nigerian households still rely on the estimated billing model for electricity tariffs.

The findings were published in the Nigeria Residential Energy Demand-Side Survey Report 2024 released by the Bureau on Wednesday.

According to the report, only 14.8% of households use the prepaid billing system during the period under review.

The survey, which focuses on nine states across the six geopolitical zones — Southwest, Southeast, South-south, Northwest, Northeast, and North-central — further indicates that households receive an average of 6.6 hours of electricity per day. This is significantly lower than the 20-hour target for Band A customers, who, according to regulators, account for 15% of electricity consumers.

The report examines various states across Nigeria, including Oyo in the Southwest, Enugu in the Southeast, Bauchi in the Northeast, Kwara in the North-Central region, Akwa Ibom in the South-South, and Sokoto in the Northwest, among others.

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A deeper state-level analysis of the estimated billing system highlights Bauchi State as having the highest proportion of users under this system, recording 97.9%.

Sokoto State follows closely with 97.3%, while Plateau State reported the lowest rate of reliance on estimated billing at 69.1%.

Conversely, the pre-paid billing system showed a different pattern. Plateau State had the highest adoption of prepaid meters, with 30.9% of consumers utilizing this system, followed by Oyo State at 27.6%.

Bauchi State, which predominantly uses the estimated billing system, recorded the lowest adoption of prepaid meters, with just 2.1% of its residents using them.

The report also provides insights into the average electricity expenses incurred by households across the country. On average, a household spends an estimated N4,155.8 per month on electricity.

Further analysis by state reveals that Enugu State reported the highest average monthly electricity expenditure at N7,319.4, followed by Plateau State at N6,153.6, while Bauchi State recorded the lowest with N2,647.7.

Additionally, among households with access to solar electricity across the surveyed states, 90.9% utilized solar home systems, while 9.1% relied on solar mini-grids during the reference period.

Electricity Tariff: 85.2% of households in Nigeria are still on estimated billing – NBS

Naira slumps further trading N1,654.09/$1 at official window

The Naira continued its depreciation against the American dollar at the official foreign exchange market on Wednesday, October 23, 2024.

The local currency traded at N1,654.09/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This indicated that the N1,654.09/$1 was N1.07 higher than the N1,653.02/$1 that the currency traded at the official window yesterday.

The naira lost N3 against the dollar at the parallel section of the forex market to trade at N1, 728/$1 as against the previous day’s rate of N1, 725/$1.

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The naira lost N5 against the British Pound to trade at N2,255/£1 as against the previous rate of N2,250\£1.

After several weeks of closing flat, the Canadian dollar still maintains N1, 300/CA$1 the same as the previous rate of N1, 300/CA$1.

The naira closed flat against the Euro to trade at ₦1,860/€1 same as the previous day’s rate of ₦1,860/€1.

Naira slumps further trading N1,654.09/$1 at official window

Qatar Airways launches world’s first Boeing 777 Starlink-equipped flight

Qatar Airways has elevated the future of in-flight connectivity by flying the world’s first Starlink-equipped Boeing 777 from Doha to London. On Tuesday, October 22.

This achievement establishes Qatar Airways, the World’s Best Airline as voted by Skytrax in 2024, as an industry leader in introducing advanced technology onboard.

The airline is the largest and first carrier in the MENA region to provide passengers with Starlink ultra-high-speed, low-latency internet. Starlink is free for all passengers and runs from gate to gate.

The national carrier of the State of Qatar is also set to exceed its initial target of three Starlink-equipped aircraft by introducing 12 Boeing 777-300s upgraded with this innovative service by the end of 2024.

Qatar Airways has further committed to rolling out the technology on its entire Boeing 777 fleet in 2025, one year ahead of schedule with the Airbus A350 fleet following in the summer of 2025.

This significant move highlights Qatar Airways’ commitment to bridging the gap between the skies and the ground by offering ultra-high-speed, low-latency internet.

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Engineered by SpaceX, Starlink is the world’s first and largest satellite constellation using a low Earth orbit that will provide passengers reliable, high-speed internet so they can stay connected with friends and family, stream their favourite entertainment, watch live sports, play online games, or work efficiently at 35,000 feet – all for free and with a simple ‘one-click-access’.

Commenting on the development, Qatar Airways’ Group Chief Executive Officer, Badr Mohammed Al-Meer, said: “We are thrilled to launch our first Starlink-equipped flight, proving once again why Qatar Airways is at the forefront of the aviation industry.

“This milestone, paired with our commitment to rapidly roll-out Starlink across our entire modern fleet, demonstrates our relentless pursuit of offering passengers an in-flight experience that transcends the constraints of traditional air travel.

“By providing Starlink reliable, seamless internet on board, we are connecting people to the things they love the most even at 35,000 feet, making every journey with us a memorable one.”

Leveraging advanced satellites with its deep experience with both spacecraft and on-orbit operations, Starlink delivers internet access around the world, including over oceans and other remote locations previously unreachable by traditional cell or Wi-Fi signals.

In his remarks, SpaceX CEO,  Elon Musk said: “Overtime you’ll find it just gets better and better. This is the minimum and it only gets better from here”.

Qatar Airways launches world’s first Boeing 777 Starlink-equipped flight