Kano electricity company loses n52bn revenue in 2019
A specific news article!
According to the article, Kano Electricity Distribution Company (KEDCO) lost N52 billion in revenue in 2019. This is a significant amount of money, equivalent to approximately $140 million USD.
The article likely reports that the loss was due to various factors, such as:
- High technical and commercial losses: This refers to the amount of electricity that is lost or stolen during transmission and distribution, which can be due to various reasons like infrastructure decay, theft, and inefficient metering.
- Low electricity supply: If the company is not able to supply enough electricity to meet the demand of its customers, it can lead to revenue losses.
- High operational costs: If the company's operational costs, such as salaries, maintenance, and fuel costs, are high, it can eat into its revenue.
- Poor billing and collection: If the company is not able to collect payments from its customers efficiently, it can lead to revenue losses.
It's worth noting that the article may also highlight the efforts being made by KEDCO to address these issues and improve its revenue performance in the future.