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Power Sector Losing N24bn Monthly To Imported Fuel –fashola - Politics - Nairaland

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Power Sector Losing N24bn Monthly To Imported Fuel –fashola by VERQUEST111: 12:28am On Feb 13
The Nigerian electricity supply industry is losing an estimated N24 bn monthly as a result of the importation of fuel such as diesel for alternative sources of energy, the Minister of Power, Works and Housing , Babatunde Fashola , has said.

According to Fashola , Nigerians consume about 300 million litres of diesel every month and 75 per cent of this volume is imported , while about 40 per cent is used in generators to produce electricity .

The minister stated these at the 24 th monthly power sector stakeholders’ meeting hosted by the Transmission Company of Nigeria in Abuja on Monday, and explained that about N 24 bn was being lost by the sector as a result of the importation of fuel on a monthly basis .

Fashola , who was represented by the Minister of State II for Power, Works and Housing , Suleiman Hassan , said, “ Many power consumers use diesel . Diesel importation has been declining over the last two years . Many are reporting that they ran their generators for noticeably few hours .
This is progress . However , Nigerians still consume about 300 million litres of diesel every month and most of this is used to power generators.
“ About 75 per cent is imported , putting pressure on scarce foreign exchange . Assuming 40 per cent of the consumption is used for power generation at an average of price of N200 per litre, the electricity industry is losing N 24 bn every month largely to imported energy. ”

He also stated that the amount used in importing fuel as an alternative source for generating power could be channelled for use in the electricity supply industry , as about 2 , 000 megawatts of power remained unutilised in the sector .

Fashola said, “ There is about 2 ,000 MW of electricity generating capacity that is unutilised. Therefore , the challenge of the moment before the industry is how to deliver the unutilised capacity to consumers , who are willing to pay for it and are already paying dearly for alternatives .

“ Problems like this require creative solutions and we don’ t have any time to waste . The N701 . 9 bn payment reassurance programme is a creative solution that appears to be having the desired effect for stabilising the gas and generation end of the electricity industry .

“ If we can creatively and constructively focus on specific win- win projects , four policies provide effective tools to quickly resolve the challenges we now face. The first two , the eligible customer regulation and the meter service provider regulation, are already subjects of detailed discussions and NERC regulatory action . ”

Fashola added that the eligible customer regulation allowed large consumers to buy their power directly from the generation companies and then enter into contracts with the Transmission Company of Nigeria and distribution companies to have the power delivered to them .

“ To plan an orderly win - win implementation of this policy , the ministry is hosting a discussion with the Manufacturers Association of Nigeria and other interested large consumers of the policy on Tuesday ( today) , ” the minister said .

He stated that the meter service provider regulation could unlock investments in metering , which was urgently needed to boost consumer trust and collection efficiency .

The minister added “Government seeks to apply that policy through private companies and local meter manufacturers to invest N39 bn in meters as settlement of a court judgement in favour of the government .

“ The distribution expansion programme aims to rapidly construct 2 , 500 MVA of dedicated 33 kV lines and packaged substations to deliver unutilised power to target consumers and Discos . It is our hope that we will all put our heads together to serve the public effectively . ”

lalasticlala


http://punchng.com/power-sector-losing-n24bn-monthly-to-imported-fuel-fashola/

1 Share

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Trustme2(m): 3:19am On Feb 13
Hmmmm
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by dokiOloye(m): 3:37am On Feb 13
I hope GEJ is not responsible for it this time around.

25 Likes 1 Share

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Alejoas(f): 4:35am On Feb 13
You are there to make the necessary changes Sir.....



Pls get back to work Mr Rocker Science!

29 Likes 1 Share

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by debolayinka(m): 5:21am On Feb 13
Wetin you expect, when tariff rates are getting crazier these days, who no go switch to diesel?

1 Like

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Bayajidda1: 10:06am On Feb 13
grin
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Bayajidda1: 10:06am On Feb 13
grin grin
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by maxwell767(m): 10:07am On Feb 13
Always giving excuses over his incompetence

26 Likes 3 Shares

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by darocha1(m): 10:07am On Feb 13
U better shut up

13 Likes 2 Shares

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Histrings08(m): 10:07am On Feb 13
Why is having a refinery a rocket science in Nigeria self?

9 Likes 1 Share

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by modelmike7(m): 10:07am On Feb 13
BLOCK the loop holes fast Mr Minister.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by AishaBuhari: 10:07am On Feb 13
Lie of the century

13 Likes 2 Shares

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Authoreety: 10:07am On Feb 13
Instead of u to do something, u are reporting to us...


U get luck say u senior me, na slap I for use take set dat ur APCious brain

13 Likes

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by hisgrace090: 10:09am On Feb 13
When are we going to get it fight in this country?
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Coitus(f): 10:09am On Feb 13
"A serious Government will fix the power problem in six months”


Power problem:

25 Likes 2 Shares

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by PUSH1(m): 10:09am On Feb 13
Lol
Fash thinking positive
We too much for this country abeg
Wetin person no go hear again
so mr minster what have been doing to solve the situation
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by iyanuden(m): 10:10am On Feb 13
Like I always say to myself, the ONLY way to put an end to all these fuel crisis, scams and subsidy poo is to FIX OUR REFINERIES. Without that in place we will continue to wallow in pain. How hard is it to get the refineries fixed
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by teamsynergy: 10:11am On Feb 13
stop whining and PRIVATISE THE SECTOR
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by magiki(m): 10:12am On Feb 13
Are you complaining or just telling us?


I didn't read the article self
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Bullhari007(m): 10:13am On Feb 13
fuel kwa which mean nah generator set we dey use for Nigeria... the amount is outrageous, why not distributes the fuel at least 10litres everyday for each households in Nigeria we won't be suffering for this epileptic power supply... Buhari and his cronies are 419

2 Likes

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Felixalex(m): 10:13am On Feb 13
Na only negative news/report dis man de give.?
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by babatee1985(m): 10:17am On Feb 13
Both Fashola, power sector, the #24b and the imported fuel are all mad...
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by FarahAideed: 10:18am On Feb 13
Fasholas keeps proving me right that he is nothing but a Dullard and a crook at the same time , does Fasholas realise that the 24 billion Naira is not being lost to to fuel importation but the incompetence holding away on the power sector , does the useless minister of Darkness realise that if Nigerians had access to ample and reliable power supply nobody will even be buying diesel or diesel generators in the first place bit instead the crook of man has decided to put the cart before the horse and instead blame fuel importation as a step to suggesting again that power tarrifs be hiked so we can have electricity but the slow poke of a minister has forgotten just two years ago immediatly he took office he pushed for immediate increase in tariffs as a prerequisite for availability of power and promise he has failed to keep despite we now pay 50 percent more for the darkness he and his demons generate daily.

5 Likes

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by rawtouch: 10:19am On Feb 13
its not rocket science, we know but thank you for telling us the amount..
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by xynerise(m): 10:20am On Feb 13
I don't get..what led to the high consumption of Diesel in Generators? undecided

This is just shooting yourself in the ass

3 Likes

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Newpride(m): 10:24am On Feb 13
That's is the problem we are facing .. And we have no other option than that.
Money spend on fueling generator daily is far too much for any business to make much profit. Since 1999 billions of dollars have bn wasted into the electricity sector nt there is nothing to show for it.
The method the redemption camp and other places adopted that they enjoy stable electricity can also be done in all local government of the country.
But for where, everything about this country sucks.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by FarahAideed: 10:24am On Feb 13
xynerise:
I don't get..what led to the high consumption of Diesel in Generators? undecided

This is just shooting yourself in the ass

Exactly..Fashola is just so shallow

1 Like

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by softheart4love(m): 10:26am On Feb 13
VERQUEST111:
The Nigerian electricity supply industry is losing an estimated N24 bn monthly as a result of the importation of fuel such as diesel for alternative sources of energy, the Minister of Power, Works and Housing , Babatunde Fashola , has said.

According to Fashola , Nigerians consume about 300 million litres of diesel every month and 75 per cent of this volume is imported , while about 40 per cent is used in generators to produce electricity .

The minister stated these at the 24 th monthly power sector stakeholders’ meeting hosted by the Transmission Company of Nigeria in Abuja on Monday, and explained that about N 24 bn was being lost by the sector as a result of the importation of fuel on a monthly basis .

Fashola , who was represented by the Minister of State II for Power, Works and Housing , Suleiman Hassan , said, “ Many power consumers use diesel . Diesel importation has been declining over the last two years . Many are reporting that they ran their generators for noticeably few hours .
This is progress . However , Nigerians still consume about 300 million litres of diesel every month and most of this is used to power generators.
“ About 75 per cent is imported , putting pressure on scarce foreign exchange . Assuming 40 per cent of the consumption is used for power generation at an average of price of N200 per litre, the electricity industry is losing N 24 bn every month largely to imported energy. ”

He also stated that the amount used in importing fuel as an alternative source for generating power could be channelled for use in the electricity supply industry , as about 2 , 000 megawatts of power remained unutilised in the sector .

Fashola said, “ There is about 2 ,000 MW of electricity generating capacity that is unutilised. Therefore , the challenge of the moment before the industry is how to deliver the unutilised capacity to consumers , who are willing to pay for it and are already paying dearly for alternatives .

“ Problems like this require creative solutions and we don’ t have any time to waste . The N701 . 9 bn payment reassurance programme is a creative solution that appears to be having the desired effect for stabilising the gas and generation end of the electricity industry .

“ If we can creatively and constructively focus on specific win- win projects , four policies provide effective tools to quickly resolve the challenges we now face. The first two , the eligible customer regulation and the meter service provider regulation, are already subjects of detailed discussions and NERC regulatory action . ”

Fashola added that the eligible customer regulation allowed large consumers to buy their power directly from the generation companies and then enter into contracts with the Transmission Company of Nigeria and distribution companies to have the power delivered to them .

“ To plan an orderly win - win implementation of this policy , the ministry is hosting a discussion with the Manufacturers Association of Nigeria and other interested large consumers of the policy on Tuesday ( today) , ” the minister said .

He stated that the meter service provider regulation could unlock investments in metering , which was urgently needed to boost consumer trust and collection efficiency .

The minister added “Government seeks to apply that policy through private companies and local meter manufacturers to invest N39 bn in meters as settlement of a court judgement in favour of the government .

“ The distribution expansion programme aims to rapidly construct 2 , 500 MVA of dedicated 33 kV lines and packaged substations to deliver unutilised power to target consumers and Discos . It is our hope that we will all put our heads together to serve the public effectively . ”

lalasticlala


http://punchng.com/power-sector-losing-n24bn-monthly-to-imported-fuel-fashola/

You can get the quantum of electricity needed to give light 24/7 in Nigeria if we have a responsible government which your party represent as claimed (Fashola's quote), why not do the rocket science miracle now that you have used 3yrs in power? When you are a governor, Lagos generate close to 40b as IGR but monthly infrastructure in the state is not up to 10bn yet your government borrowed more than any state in the country and no one is talking bcs Lagos is used in Nigeria to measured as standard forgotten 30 other states put together cant generate 40bn and when it comes to comparison, one APC has performed so well compared to other state not minding bogus IGR in Lagos.

1 Like

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by LastSurvivor11: 10:27am On Feb 13
Fashola the complainer

I remember how zombies were hailing you in 2015 when the dullard appointed him
Never know fashola is worse than buhari

2 Likes 1 Share

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Ndkings1(m): 10:28am On Feb 13
We pay ridiculous amounts of money on electricity bills yet we get shortchanged on power supply. we are now left with no choice but to turn to the use of generators
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Moreoffaith(m): 10:28am On Feb 13
IS HE MAD

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