Ikeja Disco you're sighted! just reduce your bill Biko!

TonySpike:


I strongly disagree with the bolded, Federalism/Regionalism will resolve power problems. I am 100% sure of that. Regionalism will accelerate the concept of what I call Power Islands, that is, the rapid development of the so-called microgrids and macrogrids in the long run. This will result into autonomous electric power blocs within Nigeria.

Big big grammar

specter:
Privatized Power Companies in Nigeria and Their Owners

Here's a list of privatized power companies in Nigeria and their owners. Most of the top drivers of the private companies have numerous friends and family members in politics. Others were not in power sector business investments earlier but got expatriates as technical partners.

Geregu I Generating Company

Forte Oil's Chief Femi Otedola is Chairman of Amperion Ltd, the core investor of the firm. It planned to make a 50 per cent increase in the short to medium term to generate 600mw. Three years after, it hardly generates 400mw due to poor gas supply and other issues.

Transcorp Ughelli GenCo

Chairman of Transcorp/Woodrock Consortium, Mr Tony Elumelu acquired the 972mw capacity Ughelli Power firm at $300million. It's last generation output was around 340mw.

Kainji/Jebba Hydro GenCo

Owned by Niger state's Col. Sani Bello (Rtd), the frontier of Mainstream Energy Solutions. The former military administrator of Kano state got the GenCo for $170m. It has Russian partner, RusHydro to acquire the plant. The firm recently said it overhauled two turbines but it produces a combined energy of about 735mw and has a 826mw capacity.

Shiroro GenCo

The Niger State Government is one of the owners of this plant which was gotten for $111.7million. Other partners are XS Energy Ltd, BP Investment Ltd, Urbamn Shelter Ltd, Road Nigeria Plc, China International Water Electric and China Three Gorges Corporation. They promised turbines overhaul and expansion, so far, it generates 179mw from its 300mw capacity since the takeover.

Egbin GenCo

Tope Sonubi and Tonye Cole of Sahara Energy Resource Nigeria is the local partner to the NEDC/Korea Electric Power Company (KEPCO). The $407m plant was to be revamped to generate 1,000mw. Currently it has 660mw capacity and has been producing only 171mw.

Abuja DisCo

Owned by Ambassador Shehu Malami alongise Copperbelt Energy Corporation (CEC) Plc, Xerxes Global Investments of Malami. The firm said it has spent over N40bn in improving the network, metering and the billing system since it took over in 2013.

Kano DisCo

This firm is owned by Sahelian Power (SPV) Limited and managed by Dr. Jamil I. Gwamna. It deployed 73,000 meters in 2016 and said it had improved its networks but customers complain about high estimated billing and poor electricity supply.

Benin DisCo

Victor Gbolade Osibodu has Virgeo Power Ltd which acquired Benin DisCo. Former Managing Director of Union Bank and wife, Mrs Funke Osibodu manages it. So far it has had the highest customer metering record among the DisCos.

Eko DisCo

Mr Charles Momoh is Chairman of the West Power and Gas which acquired the DisCo for $135m and Dr Tunji Olowolafe, and Mr Ernest Orji are fronting for it. It promised to spend $257m to revamp it. It is unclear if half of that investment has been made in less than two years to the timeline, though it has the highest number of industrial customers in the country.

Ikeja DisCo

The KEPCO/NEDC Consortium acquired this for $134.75, making it the only investor firm to have a stake in both the generation and distribution sections.

Ibadan and Yola DisCos

Former Head of State, Gen. Abdulsalam Abubakar and Chairman of Integrated Energy Distribution and Marketing Company acquired both firms for $160million.

It however declared a force majeure on Yola DisCo due to insurgency since 2014 which has been left in the hands of the government. Ibadan DisCo has the highest number of customers but still grapples with consistent epileptic supply, and poor metering. Same goes for Yola DisCo.

Kaduna Electric

Ex NCC Commissioner, Alhaji Yusuf Hamisu Abubakar is the Managing Director of the Sahelian Power SPV that acquired the Kano Disco for $102m. He was also a one-time Executive Secretary of the Petroleum Development Trust Fund (PTDF). The firm is saddled with poor power supply and slow metering.

Enugu DisCo

Sir Emeka Offor is Chairman of Interstate Electrics that got Enugu DisCo for $106.4m. He is also chairman of Chrome Energy Ltd majoring in oil and gas services, telecommunications and logistics. This firm can't meet up with the 75% payment deadline and was earlier recommended by BPE for a disqualification.

It supplies electricity to five eastern states and there are abundant complaints of high billings, poor supply and poor metering services.

Jos DisCo

Alhaji Mahmud Yayale Ahmed is the Chairman of Jos DisCo.

Port Harcourt DisCo

Governments of Bayelsa, Rivers, Cross River and Akwa Ibom state formed the 4Power Consortium which eventually acquired the Port Harcourt Disco

Source: https://www.nigerianbulletin.com/threads/list-privatized-power-companies-in-nigeria-and-their-owners.239210/#post-277663

Na dem dem.. God go help us to join them ooo..

after all, if you cant beat them you join them..

make them wait. i go soon buy everything from their hand.

vedaxcool:
One of the many problem bequeathed to Us by Port Harcourt Degree (Ph.D) holder Jonathan.

One of the reason I will forever dislike jona. How can someone put monopoly in the hands of private individuals. You need to see what Benin Disco is doing to us in Benin. We are treated like slaves

phemmie06:
Only in Nigeria will privatized company still levy the populace to rectify fault. We're told to gather 2 millions before the transformer owned by the community will be activated. What a nation

This is the annoying thing about the privatization. It's problem like this that it was meant to solve but unfortunately nothing has changed, absolutely nothing. Because they know we don't have a choice, cos they are the only distributor in that state/region

First let's be civil and respect each other with in our words. I am an authority in this as I work in one of these companies and have attended many seminars and read many books written by professionals on that aspect. Having cleared you on that let me educate you.

In making business investment decisions, risks on return on investment is the major consideration. No business man invests money where he is not sure of getting it back. The way our power industry is structured, no sane business man will just throw in money into it. Do you know that the Gencos gets paid a paltry 20-25% value of the power they generate monthly? How will such a business man borrow money and put into a business that isn't doing well? If you are a business man will you do so? The DISCOS don't get paid by the customers for the power they consume and hence they don't remit the true amount of their power allocation to the market operator which spirals back to the gencos not getting paid. This illiquidity is the bane of the power sector. If we have to grow the sector, the govt have to make sure that it is solved.
So on your talk on inviting new investors to come and build power plants, they were actually invited and they didn't see it to be viable. I know of a lot of licenses that have been granted to foreign companies to build power plants in Nigeria but they are hesitant to do so due to the aforementioned issues. Can you venture into a business when you are seeing that the others in that line of business are not doing well?

I have read due diligence reports of prospective investors in the power industry and the recurring issue is always the liquidity issue.

Yes the investors have not build new plants but I am very sure and have being part of one of them that is in serious negotiations with world bank for financing to do so but world bank is hesitant due to the liquidity issue. They don't want govt intervention funds, they just want to make money like business people.

So how can we fix it?
First we have to fix a growth stimulating tariff for the power industry. That was the only thing that made the telecom industry to grow. You know how much a sim card was sold then compared to now. The current tariff charged coupled with the inefficiencies can never stimulate growth in the sector. The companies need to make gains and produce profitable year end financial statements that financial institutions will see and would not hesitate to lend them money for investment and expansion.
Also the citizen will have to be patriotic enough to pay for such exorbitant prices that will have to be charged with the hope that it will stimulate growth in the sector. Energy theft will have to be collectively frowned at by all and sundry.
The govt on their part will put all regulatory framework that will ensure reasonable return on investment and be ready to always provide letters of credit or guarantees required for investment financing in the sector.

PLEASE NOTE: You are only short changing yourself when you tag another persons idea to be stupid just because it doesn't align with the way you think. The best you can do is to ask for clarifications and evaluate it with yours so that you can stand with the best.

Please don't fail to let me know if you need further education!!

bakynes:

Don't quote me with your stupid ideas if you don't have meaningful ideas to pass.

I am not saying they should buy those assets, they should be invited to build their own facilities not buy the old moribond facilities.

It worked in the case of Telecoms so it will work in the case of Power, if they know no investor will come and invest in the sector then they should have kept running the assets themselves instead of selling them to people that will only make matters worse.

The politicians that bought these power facilities, have not built a single facility still operating with the old NEPA/PHCN facilities expecting the govt to still give them intervention funds from time to time. Is that what you call Privatization?

bakynes:

Don't quote me with your stupid ideas if you don't have meaningful ideas to pass.

I am not saying they should buy those assets, they should be invited to build their own facilities not buy the old moribond facilities.

It worked in the case of Telecoms so it will work in the case of Power, if they know no investor will come and invest in the sector then they should have kept running the assets themselves instead of selling them to people that will only make matters worse.

The politicians that bought these power facilities, have not built a single facility still operating with the old NEPA/PHCN facilities expecting the govt to still give them intervention funds from time to time. Is that what you call Privatization?

You call someone's ideas stupid, whereas yours are worse off.

Do you think Power is like the Telecoms sector where you invest and you start seeing your money in 5 years. Break even for the power sector is at least 20 years. That is the true definition of long-term and unlike rail, refineries, telecoms, roads, the Nigerian power sector is completely comatose.

After building their own plants, they'd still have to move the power through the dilapidated transmission network that needs an overhaul which leads to massive shedding. After that, they have to contend with the Distribution end with multiple bypasses and non-payment.

So if you don't know what to type, don't come here and expose your ignorance.

MTN, Airtel, Glo, Etisalat have subsidiaries elsewhere and in multiple countries. The biggest power companies usually operate in no more than 3 countries, because it is capital intensive. There is simply no way, these big international power companies would leave functioning countries to invest heavily Nigeria's power sector when everything from funding to compliance is a big issue. They are not stupid. Call them for rails, ports, refineries, airports, they'll come, but power with its complexity in a country like Nigeria, no dice.

The European heavyweights Enel and EDF that are expanding would not leave opportunities in BRICS and elsewhere in the G20 to play the stupid games players are doing in Nigeria where the government is not even honest with itself.

And you are talking about running assets ourselves. The same assets that the government was running and nothing was happening. A government that cannot run simple telecommunications company and refineries want to run a complex power network for a rapidly developing country. You are a joker. They did not even employ a new engineer in over 15 years, when they were "running" it. They spent $16b and only added 1000MW, when they were "running" it.

The only option we had were indigenous companies in collaboration with select foreign partners. Look at the list against, many of the buys were by consortiums.

Total market capitalization of Nigeria's top 5 banks is less than 2 trillion naira. At current official exchange rate, that is less than $7b. The power sector needs $100b.

Think well, before you type or insult anybody again on this issue, cos your ignorance is on another level.

-Lord

9jakohai:


Of course....when you are running a business...you buy assets with the idea that they would make more money for you!

(Or you think say a businessman is a charity worker?)

On a more serious note,they would make more money if they did improve things.

Unfortunately, the Nigerian electricity sector is very expensive to run. Worn out equipment,(eg...our transmission system...which is run by the government by the way...needs replacing...and it isgoing to cost trillions) people and government institutions and even political parties who do not pay their bills, vandals, and even people who bypass the prepaid meter (Happens in my neck of the woods....which is why giving everyone a prepaid meter might not solve things).

And most DISCOS and GENCOS have to pay for gas..for the gas powered plants.....in dollars. (Noone wants to take naira). THAT increases your bills wellwell.

And to add to the misery....banks don't want to lend to the DISCOS and GENCOS....largely because they know there is a high chance the loans won't be repaid....because of the high level of financial liabilities there are (Unlike GSM companies...where the banks were very happy to lend money by the billion).

You are a foolish goat and I say that without remorse. All the gibberish you wrote up there only points to the fact that you are an incompetent or underskilled owner who lack the technical "know - how" to provide solutions to our power problems leading me to conclude, that you lot only bought these companies in order to fleece Nigerians with these crazy estimated billings, or how else will you explain this statement of yours that 100% metering won't solve our power issues due to bypassing by customers?....

So you expect us to remain analog in a digital world? So you prefer to always disconnect wires manually from defaulting consumers?... For how long will this vicious cycle continue?.... Which one is easier between chasing unmetered consumers with pole and ladder to monitoring metered consumers against bypassing?


Problem with NEPA and by extension Nigeria in general is that Professionals on the field who are supposed to know the simple solutions to problems are the same people who are clueless or doing the wrong things either through sheer ignorance or deliberate extreme wickedness against the progress of Nigeria.


Rubbish!!

chibjohn:
First let's be civil and respect each other with in our words. I am an authority in this as I work in one of these companies and have attended many seminars and read many books written by professionals on that aspect. Having cleared you on that let me educate you.

In making business investment decisions, risks on return on investment is the major consideration. No business man invests money where he is not sure of getting it back. The way our power industry is structured, no sane business man will just throw in money into it. Do you know that the Gencos gets paid a paltry 20-25% value of the power they generate monthly? How will such a business man borrow money and put into a business that isn't doing well? If you are a business man will you do so? The DISCOS don't get paid by the customers for the power they consume and hence they don't remit the true amount of their power allocation to the market operator which spirals back to the gencos not getting paid. This illiquidity is the bane of the power sector. If we have to grow the sector, the govt have to make sure that it is solved.
So on your talk on inviting new investors to come and build power plants, they were actually invited and they didn't see it to be viable. I know of a lot of licenses that have been granted to foreign companies to build power plants in Nigeria but they are hesitant to do so due to the aforementioned issues. Can you venture into a business when you are seeing that the others in that line of business are not doing well?

I have read due diligence reports of prospective investors in the power industry and the recurring issue is always the liquidity issue.

Yes the investors have not build new plants but I am very sure and have being part of one of them that is in serious negotiations with world bank for financing to do so but world bank is hesitant due to the liquidity issue. They don't want govt intervention funds, they just want to make money like business people.

So how can we fix it?
First we have to fix a growth stimulating tariff for the power industry. That was the only thing that made the telecom industry to grow. You know how much a sim card was sold then compared to now. The current tariff charged coupled with the inefficiencies can never stimulate growth in the sector. The companies need to make gains and produce profitable year end financial statements that financial institutions will see and would not hesitate to lend them money for investment and expansion.
Also the citizen will have to be patriotic enough to pay for such exorbitant prices that will have to be charged with the hope that it will stimulate growth in the sector. Energy theft will have to be collectively frowned at by all and sundry.
The govt on their part will put all regulatory framework that will ensure reasonable return on investment and be ready to always provide letters of credit or guarantees required for investment financing in the sector.

PLEASE NOTE: You are only short changing yourself when you tag another persons idea to be stupid just because it doesn't align with the way you think. The best you can do is to ask for clarifications and evaluate it with yours so that you can stand with the best.

Please don't fail to let me know if you need further education!!

You try to inform that fellow.

He is one of the "uninformed yoots" who instead of keeping quiet and trying to understand the deep intricacies of our power situation, they'll rather talk trash and regurgitate beer parlor fallacies on a public forum meant to educate the public.

Everything to them is about PDP vs APC. If it was the APC that sold the power to same politicians, he'd be defending it with equally absurd arguments.

-Lord

The Op got the facts from documents available but the truth is hidden from us. Jebba & Kainji hydro plants belong to the father of the Governor of Niger State. Egbin and Eko electricity distribution, ikeja disco belong to Obasanjo. Abuja electricity distribution company belongs to Goodluck Jonathan, Jos Disco belongs to David Mark. They all used foreigners as technical partners to deceive us and sold to themselves. Where is the total revenue generated from these fictitious sales?

Our leaders and the rich are simply wicked. This is same as oil block, they are just selling Nigeria to themselves. Sahara reporters, pleasd tell us more of owners, we have only seen one head of state.

Ermm guyman no vex.. Was an oversight

Guyman02:


Must you quote the whole article just to make a two line comment

LordAdam16:


You call someone's ideas stupid, whereas yours are worse off.

Do you think Telecoms is like the Power sector where you invest and you start seeing your money in 5 years. Break even for the power sector is at least 20 years. That is the true definition of long-term and unlike rail, refineries, telecoms, roads, the Nigerian power sector is completely comatose.

After building their own plants, they'd still have to move the power through the dilapidated transmission network that needs an overhaul which leads to massive shedding. After that, they have to contend with the Distribution end with multiple bypasses and non-payment.

So if you don't know what to type, don't come here and expose your ignorance.

MTN, Airtel, Glo, Etisalat have subsidiaries elsewhere and in multiple countries. The biggest power companies usually operate in no more than 3 countries, because it is capital intensive. There is simply no way, these big international power companies would leave functioning countries to invest heavily Nigeria's power sector when everything from funding to compliance is a big issue. They are not stupid. Call them for rails, ports, refineries, airports, they'll come, but power with its complexity in a country like Nigeria, no dice.

The European heavyweights Enel and EDF that are expanding would not leave opportunities in BRICS and elsewhere in the G20 to play the stupid games players are doing in Nigeria where the government is not even honest with itself.

And you are talking about running assets ourselves. The same assets that the government was running and nothing was happening. A government that cannot run simple telecommunications company and refineries want to run a complex power network for a rapidly developing country. You are a joker. They did not even employ a new engineer in over 15 years, when they were "running" it. They spent $16b and only added 1000MW, when they were "running" it.

The only option we had were indigenous companies in collaboration with select foreign partners. Look at the list against, many of the buys were by consortiums.

Total market capitalization of Nigeria's top 5 banks is less than 2 trillion naira. At current official exchange rate, that is less than $7b. The power sector needs $100b.

Think well, before you type or insult anybody again on this issue, cos your ignorance is on another level.

-Lord

You have a point in some of your acertions, but if you think selling Assets to politicians will solve the issue of Power in Nigeria, you better wake up from your sleep because they will operate on a corrupt system, why has metering suddenly become a problem for them if truly they want to make their money.

Transmission can be improved, 20 years is not such a long time so far we get it right.

Check on the pages of Newspaper in the 70's, the same promises NEPA gave to us assurance they would improve power, if we start now 20years wouldn't be too far.

I said the govt shd run it till they get the right system that would work, selling to indigenous companies owned by Politicians not technocrats and you think power would improve.

it wud be better if it is been handle by state govt of each state

realpoacher:


You are a foolish goat and I say that without remorse. All the gibberish you wrote up there only points to the fact that you are an incompetent or underskilled owner who lack the technical "know - how" to provide solutions to our power problems leading me to conclude, that you lot only bought these companies in order to fleece Nigerians with these crazy estimated billings, or how else will you explain this statement of yours that 100% metering won't solve our power issues due to bypassing by customers?....

So you expect us to remain analog in a digital world? So you prefer to always disconnect wires manually from defaulting consumers?... For how long will this vicious cycle continue?.... Which one is easier between chasing unmetered consumers with pole and ladder to monitoring metered consumers against bypassing?


Problem with NEPA and by extension Nigeria in general is that Professionals on the field who are supposed to know the simple solutions to problems are the same people who are clueless or doing the wrong things either through sheer ignorance or deliberate extreme wickedness against the progress of Nigeria.


Rubbish!!

And you think you are better than the person you are insulting.

When he said 100% metering would not solve the issue, did you talk about the issue he raised of bypassing?

Bypassing a meter or power line is a federal crime in the US, UK, Germany and many of the OECD countries and would land you in jail. In Nigeria you get a slap on the wrist. So, when he says 100% metering would not solve the issue, he is not implying that we should not attain for that, but that it isn't the magic bullet that would solve our power distribution issues.

Barracks don't pay for power in Nigeria, government offices both federal and state the same thing, rich owners with connections also bypass because them no born DISCO inspectors make them enter the mansions dey find evidence of bypassing. Even the middle class aren't left out.

And here you are frantically looking for a scapegoat and bleating like an uncultured person.

The power issue is multi-faceted and so many people are at fault, that you can't take aim at only one person and leave others in the clear. Everyone from consumers to the companies to the government are at fault. The sooner we stop this combative attitude and apportioning blames to others and absolving ourselves of all wrong-doing, the sooner we'll resolve this impasse.

I spend at least 40k every month on gasoline for personal use and I have a prepaid meter. And I know of companies that spend upwards of 5m every month for power and still run generating plants regularly, whereas Nigeria is one of the few countries in the world where industrial customers pay higher for electricity than residential customers. In saner climes, industrial and commercial users pay less.

Better inform yourself rather than find imaginary enemies to vent your frustration on.

-Lord

It could have been better we sold the generation, transmission, and distribution plants to devil, believe me, he'll have more of human compassion than those elite who are more brute than devil.

You are truly funny. Let me not go down to your level to insult you like you did to me. You posted a fake link without any content in wikipedia at your pathetic attempt to contribute to a matter you know nothing about. Please post a better link because I truly want to read that article that talks about how Egbin was gifted out. who is a liar between the two of us is evident since your article is without content.

The problem I see in you is that your hatred for Jonathan is beclouding your reasoning from knowing the truth. I am not here to support nor criticise any govt past or present.

The question is: was privatization the best thing to do? My answer is yes if done well.
But was it done well? Not really, it could have been done better.

The mistakes have been made, we only have to talk about how to remedy them.

I agree with you the those assets could have worth more than they were sold but considering the present issues on return on investment, those selling price are not that bad.

You need to read more. Have you read the power sector reform act 2005? Was Jonathan in power then? You need to go to NERCs website and download all the MYTO and read. You also need to read Power purchase agreements between these Gencos and NBET. Also read the gas supply agreement (GSA) and gas transportation service agreement (GTSA) between the Gencos and the gas companies. After you must have read all these, then you can quote me so that we can discuss. Stop arguing blindly.

You also need to read books on how business decisions are taken. The truth is that Obasanjo started the privatisation process, Yaradua halted it and Jonathan completed it.
51% stake in Egbin was paid for during obasanjo's regime. So Egbin was sold then what was remaining was handing over modalities. Jonathan came in and raised the stake to 70% and completed the process.
Yes there are issues at the discos that needs to be sorted out.

So please read!!! before coming into a public forum like this and show your ignorance thereby deceiving others.

serikigoro:

I would have prefered to call you something better but i cant find any . YOU ARE A LIAR!!! PERIOD!!! Here the link on details on how egbin was gifted out! https://en.wikipedia.org/wiki/Egbin_Thermal_Power_Station.

Since when did Nigerian politicians start investing in toxic assets or any investment at all. They only invest when it is a bazaar or abroad. You claim foreign investors were not interested yet local politicians were jostling for it as if their lives depended on it. Again Jonathan was nothing but a disaster that has already happened. He sold what could have birthed the industrial revolution to incompetent cronies who like him had no clue, as completely clueless. That is why 4 years after common meter to measure consumption they cannot provide , even when you pay for the meter it takes several months to arrive. Jonathan, I repeat is a disaster that has happened already.

Good to know Power is privatized by Wealth Acquisitors aka Top businessmen since Govt can't handle it.

Our Leaders should pass through a Social administrative classes.

bakynes:

You have a point in some of your acertions, but if you think selling Assets to politicians will solve the issue of Power in Nigeria, you better wake up from your sleep because they will operate on a corrupt system, why has metering suddenly become a problem for them if truly they want to make their money.

Transmission can be improved, 20 years is not such a long time so far we get it right.

Check on the pages of Newspaper in the 70's, the same promises NEPA gave to us assurance they would improve power, if we start now 20years wouldn't be too far.

I said the govt shd run it till they get the right system that would work, selling to indigenous companies owned by Politicians not technocrats and you think power would improve.

Most politicians do not manage the companies they own. They have CEOs and board of directors that run the company. Most financiers would not loan to a sham of a company simply because of the name of its owner. Most of the bankers that made that mistake prior to the recession have been threatened and hassled by management, especially with the issue of high percentage of NPLs. Some of the stories made their way to the dailies.

So, when you talk about selling to politicians as an issue, it only shows you know very little about how businesses work.

From the viewpoint of the DISCOS, delaying metering makes economic sense for them. Most of the debts owed them by the government (both state and federal) have not being paid. Even to this day, most government offices don't pay regularly. Then there is the issue of bypassing. They make up the difference with estimated billing, since they also have interests on bank loans to pay, and financial commitments to upgrades, repairs, and new installations.

The NERC and government know of these challenges, but they'll prefer to turn the blind eye. If they know the DISCOS are simply delaying metering SOLELY for malicious reasons, they have the option to sanction them or institute targets with fines to be paid by DISCOS that don't meet targets. Or they could tie compliance with metering targets to funding pledges.

The government has done none of this, not because they don't know of these alternatives, but most likely because they know how effed up the system is.

20 years is a long time. Very long time, and any investor willing to wait that long to break even would only invest in a stable system. Our power sector is anything but stable at the moment. That's why I made reference to the international heavyweights placing their sights on the stable systems in BRICS and G20 countries rather than Nigeria. They are business men, not faith-based charity organizations.

Banks on the other hand would not leave lucrative industries like construction, oil, manufacturing, agriculture, mining, services, and throw cash into a sector where reliable data is even hard to come by.

How can you look at the government spending $16b on power and adding only 1000 MW and still say they should keep running it? Are you intentionally trying to be mischievous?

Nigeria just secured $4b from the World Bank for power, all of that money is going to uncompleted generating projects and increasing transmission capacity. In the past, that money would just vanish in NEPA/PHCN and no one would know what it was used for. In fact, the power civil service was so blatantly ineffective and bloated that over 90% of the money for which the GENCOS and DISCOS were sold was used to pay severance package of the workers. And I hear some are still being owed. In only 3 years, a sector that did not add any new engineer, employed 2,000 new engineers.

That is the difference between pre-2013 power sector and post-2013 power sector.

This is not politician versus technocrat argument. Even Barth Nnaji's company Geometric Power is facing the same issues plaguing other operators. The GENCOS and DISCOS owned by state and foreign consortiums are also in same boat as those owned by politicians.

All the players are using untrue rhetoric to garner undue sympathy. The government would tell you it's the operators fault, the operators would tell you it's the government fault citing funding and debt issues, the people with their own issues would also issue blames to others, and we'll keep blaming each other while the sector remains dilapidated.

-Lord

LordAdam16:


And you think you are better than the person you are insulting.

When he said 100% metering would not solve the issue, did you talk about the issue he raised of bypassing?

Bypassing a meter or power line is a federal crime in the US, UK, Germany and many of the OECD countries and would land you in jail. In Nigeria you get a slap on the wrist. So, when he says 100% metering would not solve the issue, he is not implying that we should not attain for that, but that it isn't the magic bullet that would solve our power distribution issues.

Barracks don't pay for power in Nigeria, government offices both federal and state the same thing, rich owners with connections also bypass because them no born DISCO inspectors make them enter the mansions dey find evidence of bypassing. Even the middle class aren't left out.

And here you are frantically looking for a scapegoat and bleating like an uncultured person.

The power issue is multi-faceted and so many people are at fault, that you can't take aim at only one person and leave others in the clear. Everyone from consumers to the companies to the government are at fault. The sooner we stop this combative attitude and apportioning blames to others and absolving ourselves of all wrong-doing, the sooner we'll resolve this impasse.

I spend at least 40k every month on gasoline for personal use and I have a prepaid meter. And I know of companies that spend upwards of 5m every month for power and still run generating plants regularly, whereas Nigeria is one of the few countries in the world where industrial customers pay higher for electricity than residential customers. In saner climes, industrial and commercial users pay less.

Better inform yourself rather than find imaginary enemies to vent your frustration on.

-Lord

My friend shut da Bleep up! You are a bigger goat than the person you are defending. You think that I am a novice in the power sector?... Or you think that because I am not yet throwing statistics and industrial registers into this discuss means that I am a "jew"?.. FYI, that same few hours of power you see in your house is what I work my ass of(most times overnight) with other engineers to generate from Egbin here so show some respect.


The problem with people like you or other players in the power industry is too much complaints, beaurecracy, and bottlenecks when what you should concern yourself with is how to look beyond these problems and provide Nigeria with constant light all problems notwithstanding. I mean look at all what you have been saying since, you have been telling us 101 reasons why the power sector can't work making it an impossible venture. I bet, given your kind of person, you would have given us a thousand and one reason why the telecom industry wouldn't have worked too when Obasanjo wanted to ditch Nitel for MTN and Co. I am a realist but also an optimist. I look beyond problems and seek solutions.

Nigeria power problems will be solved with 100% metering and full privatization devoid of Government interference or unjust regulations. Quote me anywhere!! Allow the existing companies to remain but bring in the world big players to build, generate and distribute from scratch till finish. Let them bill us 30k, 50k per month on a pay-as-you-go meters. Those who can afford it will buy their cards while those who can't should remain with NEPA.... Power will be everywhere.

And as for Security and government agencies not paying their bills. It's a small issue, atleast I am very sure that every force man recharges his phone himself. 100% privatization will settle that.

It's only a foolish and a stupid man who keeps doing the same everytime and expects different results. We can't keep giving these companies credits to put into existing facilities, they are old and moribund


Nonsense

by their fruits.. Hamisu Abubarka from petroleum trustfund.. Enough wind fall

Abdusalam Abubarka that emptied our external reserve just to conduct an election?

Yayale Ahmed,.. Former Secretary to federal government, where did he get such money

The rest of crooks we already know them so no comments

realpoacher:


My friend shut da Bleep up! You are a bigger goat than the person you are defending. You think that I am a novice in the power sector?... Or you think that because I am not yet throwing statistics and industrial registers into this discuss means that I am a "jew"?.. FYI, that same few hours of power you see in your house is what I work my ass of(most times overnight) with other engineers to generate from Egbin here so show some respect.


The problem with people like you or other players in the power industry is too much complaints, beaurecracy, and bottlenecks when what you should concern yourself with is how to look beyond these problems and provide Nigeria with constant light all problems notwithstanding. I mean look at all what you have been saying since, you have been telling us 101 reasons why the power sector can't work making it an impossible venture. I bet, given your kind of person, you would have given us a thousand and one reason why the telecom industry wouldn't have worked too when Obasanjo wanted to ditch Nitel for MTN and Co. I am a realist but also an optimist. I look beyond problems and seek solutions.

Nigeria power problems will be solved with 100% metering and full privatization devoid of Government interference or unjust regulations. Quote me anywhere!! Allow the existing companies to remain but bring in the world big players to build, generate and distribute from scratch till finish. Let them bill us 30k, 50k per month on a pay-as-you-go meters. Those who can afford it will buy their cards while those who can't should remain with NEPA.... Power will be everywhere.

It's only a foolish and a stupid man who keeps doing the same everytime and expects different results. We can't keep giving these companies credits to put into existing facilities, they are old and moribund


Nonsense

And in your write-up you made no mention about the bypassing issue, and you expect me to take you seriously, because you were lucky enough to be employed at Egbin.

That you work at Egbin does not mean you know all about the challenges when you've obviously shown that you are ignorant and can't even comprehend properly.

Resulting to expletives is telling evidence that you know very little of what you're talking about and are using vituperations to fill up the holes in your knowledge.

You work at Egbin, and recently GENCOS were permitted to sell electricity directly to consumers. Now tell me, how would the GENCO you work for respond when the prevalent issues of bypassing pop up even with 100% metering compliance amongst their sub-set of consumers?

I'm giving you reasons why international companies would not come and you say I'm making excuses. And in the same sentence compare the telecoms sector to power sector. Better stick to your technical job, economic analyses is not your forte. Look at the refinery concession that is taking place, most of the interest is coming from international heavyweights because of the yield and stability, and they are crowding out whatever local interest is in there.

Why do you think the same international heavyweights left the power sector for smaller players and local interest to jostle for the spots when there was open bidding? Go and look at the list of bidders. If an international heavyweight would not bid for existing plants that they could snap cheaply if they grease some palms, why do you think they would invest far more money running into billions of dollars to build new plants in the same country?

How old are you?

It is one of the facilities that you call old and moribund that you are working in. Full privatization of the power sector devoid of government interference is impossible in Nigeria. In fact, full privatization of the power sector with government interference but devoid of heavy low-interest loans from international organizations is impossible in Nigeria.

The recent World Bank loan for power is at less than 2%. The average interest in Nigerian banks as at Q1 2017 crossed 30%. So, you see why I call you ignorant and ill-informed.

Nigeria needs more regulation, like the recent GENCOS allowance to sell electricity directly. They also need to consider independent metering, microgrids, open up the IPP sub-sector, et cetera.

The independent heavyweights would start coming when the system starts functioning fine, not before. Enel is entering Latin America giants of Brazil, Argentina, Chile. These are OECD and emerging countries. EDF is in Brazil, Russia and China. 15-20 years ago, they wouldn't touch these countries with a 10 mile pole.

These are the only 2 of the top 10 power companies venturing out of Europe and North America. More than 7 of the top 10 power companies in India are Indian-owned. Ditto in China and most of the emerging countries.

That you compare the power sector to the telecoms just shows how ignorant you are about this discourse and why you should stick to your technical routine at Egbin.

-Lord

Personally, I think Nigerian companies do not have the financial muscle for power. Most of the companies expect government to subsidize the business for them.
The government should invite big names such as Eskom, GE or the Chinese Energy company to come and run power generation and distribution so that we can move forward.

vedaxcool:
One of the many problem bequeathed to Us by Port Harcourt Degree (Ph.D) holder Jonathan.

gbam

dacovajnr:
Ikeja Disco you're sighted! just reduce your bill Biko!

Chai some people brain na 1000 terabyte! you catch them red-handed abi ?
I don't know what they are hiding

dacovajnr:
Ikeja Disco you're sighted! just reduce your bill Biko!

Chai some people brain na 1000 terabyte! you catch them red-handed abi ?
I don't know what they are hiding

Wetin be privatize? I thought they are already privatized? Abi you mean nationalize?

serikigoro:

I would have prefered to call you something better but i cant find any . YOU ARE A LIAR!!! PERIOD!!! Here the link on details on how egbin was gifted out! https://en.wikipedia.org/wiki/Egbin_Thermal_Power_Station.

Since when did Nigerian politicians start investing in toxic assets or any investment at all. They only invest when it is a bazaar or abroad. You claim foreign investors were not interested yet local politicians were jostling for it as if their lives depended on it. Again Jonathan was nothing but a disaster that has already happened. He sold what could have birthed the industrial revolution to incompetent cronies who like him had no clue, as completely clueless. That is why 4 years after common meter to measure consumption they cannot provide , even when you pay for the meter it takes several months to arrive. Jonathan, I repeat is a disaster that has happened already.

Now, what is the solution? Any idea?

olujastro:
A lot of ignorant and mostly empty-headed people don't understand power is now a private business excluding transmission. That's why they rush to shout "Minister of Darkness".
Lalasticlala you need to educate some ignoramus on this forum.

You are the willfully ignorant here. Power generation is still under the control of ministry of power. It's like saying that filling station owners are responsible for fuel scarcity when NNPC still controls refining and distribution.

The government sold power assets/DISCOs to their cronies with zero knowledge in power operations and also no financial resources to invest and improve their operations. Investment in their various sectors to improve operations, adequate delivery and billing is the only way forward, but they don't have any money or technical knowledge to do all that and banks are not willing to lend funds to them.


The only way out and manageable solution is to re-acquire the assets from the DISCO's and turn it over to entities with power knowledge, management skills, alternative power products like solar, wind and so on and funds to invest .


The current set up is just rubbish and endless years of headache and power failure.

BigIyanga:

You are the willfully ignorant here. Power generation is still under the control of ministry of power. It's like saying that filling station owners are responsible for fuel scarcity when NNPC still controls refining and distribution.

Please do a simple Google search before you quote me next time, after which you'll find out you're part those I referred to in my comments.