khel: I'll hope the fund is really appropriated for the apporoved!!!

You haven't learnt anything. Ask them what they did with subsidy removal money and $20 billion money. Did I forget Abacha's recovered loot or the recent one in SA?

I don't support this move at all

FG if una like squander this money. My hand no dey. I don comot joor.

Nigerians will always criticise what they don't understand. There is something called credit enhancement in infrastructure finance. Most foreign investors won't invest in naija because of the risks involved. For example the market risk - The electricity tariffs were too low but the government increased them. Also, Nigerians don't like to pay for anything, so the government promised them they'll repay any shortfall in revenues as a result of the market risk. Its even better here because the money will be repaid to the govt by the companies after they start making a profit in the long run. So let's not criticize what we don't understand.

spending all the time but no result

I believe that is on paper while the real cash goes to pockets of criminals in this government...shame.

How does a government that seems to have lost all trust, credibility, and by extension legitimacy, insist on perpetuating herself in power to the utter chagrin of the people?? The comments of most People so far are quite revealing.

A shocker definitely awaits them in February.

more fuel for insurgency and kidnapping. This will not only encourage disillusioned youths to dance to the music of armed groups seeking to overthrow the state but also give the warlords the means to achieve it with billions floating around.

Fascist government.
Hitler' Grandchildren

There is still no light in UNIPORT.

Beesluv: Na today?

e don tey

This is absolutely pathetic, whichever way you want to look at it, the privatization of PHCN is a complete scam. It's just like a landlord that put his house for sale, invited and told interested parties to pay for it at a specified time (which some failed to do). The buyers re now struggling to renovate the house, the landlord still goes ahead to loan them money for renovation so that they can sale or lease the house and make lots of profits for themselves (very bad business for the landlord).

The Nigerian government is always doing the wrong things and expecting a good result. It took Brazil $10billion to generate 10,000mw in 2010 for world cup, but from obasanjo's regime till date, we've spent over $20billion trying to achieve the same feet.

It would be saner for the government to explore other sources of renewable energy, what re we doing to the abundance of coal in enugu. At the end of it all the masses re at the receiving end. It would have been better to liberalize and commercialized the power sector just like the Telecom sector, and not this scam of privatization. God help us.

EmoBoy: Nigerians will always criticise what they don't understand. There is something called credit enhancement in infrastructure finance. Most foreign investors won't invest in naija because of the risks involved. For example the market risk - The electricity tariffs were too low but the government increased them. Also, Nigerians don't like to pay for anything, so the government promised them they'll repay any shortfall in revenues as a result of the market risk. Its even better here because the money will be repaid to the govt by the companies after they start making a profit in the long run. So let's not criticize what we don't understand.

Have we not done enough harm to ourselves with this endless and senseless excuses we make for this corrupt government? Were there no assessments done on the financial health/capacities on these companies? Have you asked yourself what intervention was given to the telecoms companies that had ZERO infrastructure on the ground when they came to this country? These guys inherited assets worth billions (you can argue the assets are not in good shape), they invested next to nothing towards improving the situation but started reaping profit from day 1 by imposing tariff increment on us. Yet we got no increase in quality of service. Now they silly gov come up again with cock and bull story of intervention, to make matters worse we are supposed to bear the cost through another round of increase tariffs. What is the guarantee there will be any sort of improvement after the tariff increment.

BTW where are those propagandist that claim they have constant power?

I have said it before and I will repeat it again - gej is not the problem of Nigeria. he is just a silly clueless (now shoefull) corrupt a55hole. The real problem we have is ourselves. Because we deliberately vote for mediocrity even after seeing no evidence of good track records for people we vote for. And when they begin to display their corrupt nature with senseless actions that impoverishes us more, we make excuses for them so they emboldened and take even more actions against us.

EmoBoy: Nigerians will always criticise what they don't understand. There is something called credit enhancement in infrastructure finance. Most foreign investors won't invest in naija because of the risks involved. For example the market risk - The electricity tariffs were too low but the government increased them. Also, Nigerians don't like to pay for anything, so the government promised them they'll repay any shortfall in revenues as a result of the market risk. Its even better here because the money will be repaid to the govt by the companies after they start making a profit in the long run. So let's not criticize what we don't understand.

In as much as i agree with your point to a certain extent, i don't quite agree with the fact that you said foreign investors won't invest in Nigeria cos of the risk involved. If I may recall, the former minister of power boasted that over 100 firms bid for these infrastructures, so are you telling me they didn't carry out their feasibility studies before bidding or buying, also most of the electricity revenue are generated from the cooperate sector not specifically the masses( they are even over billed most times), furthermore there was an implementation of prepaid meter in which Nigerians are willing to accept. Overall in the long run, it's bad business for government and the people would be at the receiving end by paying huge tariffs.

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Naija,with d way gov is doing things.u sold it and yet we a given such of money to whose benefit.dey knew b4 dat d buyers a nt capable.its game plan to get fund 4 election by pdp gov

Konnektions146: when will Nigeria wake up?

Approving monies everyday without any remarkable improvement, we as a nation have got a lot of abundant resources to generate electricity but seemingly we are cursed in the way of petroleum, everything now is Gas powered ,
no one is looking at long term per se,

what about renewable energy which we all know is till eternity.

i have see a gas well loose over 50% of its production capacity in less than 2 years, what if somethin like this happens to wells supplying gas to our gas-fired power stations?, we would be plunged into darkness ehn?

it is well

bro d reason is simple bad governance i ve alwys maintained dt 4yrs is enough 4 any purposeful leader to mk an impct apart frm d 35% affirmatn ds govt shld tell nigerians atleast 3 other promises it had kept...anyway gej till thy kingdom cometh..since we seem to b in love wt mediocry...

ayukdaboss: PDP = Band Wagon of Liars and Thieves

so hows this news connected with the P.D.P? if d govt doesn't work u cry ndvif they do,u scream... bloody janjaweeed hater

gift01: Election is drawing closer. If we no see light, den No Vote for GEJ come 2015. Apc who is your Presidential candidate? Lets start looking at the other option

Buari is their candidate,and a man who ruled my sweet grandpa/grandma,also my parents will not rule me too....so its as it is....u know now.....,,....till 2019

Like it is the money that will bring the light. Plenty graduate Engineers dey street without anyone giving a hoot.

And who are the beneficiaries ?

The Ogas @ the top, Abuja residents.

Tell me something else .

Chai! Next time, I won't dull myself. If the govt puts up anything for sale I must buy o. Cos I know if I buy for N25, they will still spend another N35 on me to bail me out....

Iڪ this the cluelessness they have been talking about

Mtcheeew!!! Still, Dia won't b any f**king improvement.... Just wasting of money...

beopened:

If this is not a scam,i dont know what to call it......what is it with FG trying to bail out or rescue already privatised companies?

If they had no capacity to run the bought GENCOs and DISCOs,why did clueless Jonathan sold to them in the first place.....despite the fact that some of the companies could not even meet up with the deadline for payment in the initial instance

Now did i just read about a new Tarriff regime as an effect of the loan to be given?

That implies that Nigerians should expect to pay more than they are already paying.......yet some people will still vote this man come 2015

And don't forget that these GENCOS & DISCOS owe banks already, on pure commercial terms! ........

ok we don hear.

I have three of this mini fuel dispenser,sold 2 and one left for the lucky buyer....suitable for kerosene business especially if you are starting small with 5000ltrs tank or 10,000ltrs tank.

very strong and it comes with:
1. Hose and Nozzle.
2. Meter
3. Pump.
4. Electric motor.

Suitable for your purpose and can work with a smaller generator in case their is no light.

Price: 100k

Thanks

my location is abule egba,Lagos.
08033398267.

Pavore9: Same old path that leads to nowhere!

Hmmm

The government has failed to improve the electricity.

I thought phcn has been sold already. why using tax payers money to finance it again? this otuoke guy is really a drunkard.

kel4soft: The Federal Government said on Friday that it had
approved N213bn facility to rescue private
electricity companies.
Minister of Petroleum Resources, Diezani Alison-
Madueke, said this while speaking with State
House correspondents at the Presidential Villa in
Abuja.
She briefed journalists on ‘Electricity market
stabilisation facility and the bankability of the
power sector’.
“The CBN, in collaboration with the Deposit Money
Banks, will provide a total facility of N213bn to
settle both the legacy gas debts as announced on
August 2 and also the shortfall in revenues to the
sector since the handover of PHCN companies on
November 1, 2013,” she said.
According to her, N36bn would be tied to
commitments to supply specific volumes of gas-
for-power and to negotiate and execute bankable
gas supply agreements with power plants.
She also said there would be a new electricity
tariff to reflect the new developments.
The minister said, “NERC (the National Electricity
Regulatory Commission) will publish a reset tariff
order (MYTO 2.1). This tariff order will take into
account the CBN provided facility, current levels of
energy output, the new baseline gas price and
other variables that more closely reflect the true
cost of running electricity businesses.”
She said the electricity market, mainly consisting
of private operators, would repay the facility with a
first-line charge on their revenues over a 10-year
period.
She added that there would be a moratorium on
repayment of the credit facility by the distribution
companies until electricity supply improved
across the country.
She said this would ensure that the cost of
electricity for ordinary consumers continued to be
affordable.
The minister added, “The CBN will, on a case-by
case basis, be working with the Deposit Money
Banks on some of the prudential guidelines
associated with acquisition loans for electricity
assets through extended restructure of the debts
repayment during the moratorium period.
“This will only apply where it is clear that strains
on loans are a direct result of recent, unforseen
adjustments in the policies that guide the
electricity market.
“The credit facility will be disbursed via
commercial banks and a special purpose vehicle,
which will be managed by a dedicated fund
manager. This structure will ensure that the funds
are repaid in full, within the time frame of the reset
tariff order.”
With her at the briefing were the Minister of Power,
Chinedu Nebo; Governor of Central Bank of
Nigeria, Godwin Emefuele, and Chairman, Nigerian
Electricity Regulatory Commission, Sam Amadi.



www.punchng.com/news/fg-bails-out-private-power-firms-with-n213bn/

I thought the govt said they needed a 1billion dollars loan to fight Book Haram. Sure, this is more than 1 billion dollars. People Deceiving People.

*sighs* Same old story.

We need another government that know the importance of 24/7 electricity provision.

Another government that would knows that tens of billions of dollars imediately needed to plough in to provide regular light.

Na Today.

Can't they use dis N213billion to buy 100million 'generators' and give each family in this country? We don't want nepa light again, simple!!!!!!!!