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Power Sector Losing N24bn Monthly To Imported Fuel –fashola - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Power Sector Losing N24bn Monthly To Imported Fuel –fashola (7218 Views)

Maina Has Started Speaking Up On How He Spent The N24bn ―source / Petrol Demand Hits 50 Million Litres Daily, NNPC Incurs N24bn Monthly As Subsidy / FG To Build EFCC Headquarters With N24bn, Hires N3.8bn Vessels For NIMASA (2) (3) (4)

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Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by three: 10:30am On Feb 13, 2018
Grand Gbatueyo of the Federal Republic
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by bornolowu(m): 10:33am On Feb 13, 2018
Most comments here does not reflect what the minister is saying .. the minister is talking absolute poo, unrealistic in all its details..apparently, he states that nigeria spends so much on fuel to get power and this causes a loss of 24billion to the power industry (which could have gotten that amount assuming it was paid to it) so the minister is wishing or suggesting some of the 24billion monthly be channelled to power sector...basically he meant we or companies should use or contribute the money we use in buying fuel to generate electricity..that Is wishful thinking..what a dull proposition..provide power then we stop buying fuel to generate power
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by softheart4love(m): 10:34am On Feb 13, 2018
softheart4love:


You can get the quantum of electricity needed to give light 24/7 in Nigeria if we have a responsible government (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.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by uuzba(m): 10:46am On Feb 13, 2018
Coitus:
"A serious Government will fix the power problem in six months”


Power problem:

So Buhari is not a serious government. Period.
Nigeria needs a leader. Someone with vision for he people.
Buhari has no vision except enslavement. He wants all peoples to kneel down and beg him for food. Never to be independent. So he does not promote any move towards Autonomy - the fruit of true federalism. He just wants everybody to come sit at his feet and beg for food. Some kind of Islamic disciples something.....
Every minister, government or youth hat has shown any type of initiative is met with frustration. No support from the government.

We are still playing here on social media
We keep hoping that by typing *345*3# Nigeria will just automatically reload and start working fine.
Continue pressing o.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by FarahAideed: 10:46am On Feb 13, 2018
bornolowu:
Most comments here does not reflect what the minister is saying .. the minister is talking absolute poo, unrealistic in all its details..apparently, he states that nigeria spends so much on fuel to get power and this causes a loss of 24billion to the power industry (which could have gotten that amount assuming it was paid to it) so the minister is wishing or suggesting some of the 24billion monthly be channelled to power sector...basically he meant we or companies should use or contribute the money we use in buying fuel to generate electricity..that Is wishful thinking..what a dull proposition..provide power then we stop buying fuel to generate power

Exactly too dull ..Fashola is only making his shallow case for another tariff increase
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by bornolowu(m): 10:49am On Feb 13, 2018
FarahAideed:


Exactly too dull ..Fashola is only making his shallow case for another tariff increase
I jus taya for the man o.. Make e no try increase tarrif @ all!!
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by colli247(m): 11:20am On Feb 13, 2018
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/
PLEASE BLAME JONATHAN GOODLUCK

1 Like

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by erico2k2(m): 11:27am On Feb 13, 2018
dokiOloye:
I hope GEJ is not responsible for it this time around.
It is now rocket science
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by erico2k2(m): 11:31am On Feb 13, 2018
iyanuden:
Like I always say to myself, the ONLY way to put an end to all these fuel crisis, scams and subsidy shit 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
The Cabal won't let thus happen subsidy money 2 sweet

1 Like

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by 989900: 11:44am On Feb 13, 2018
Fash is not getting the necessary support from the Presidency and the legislature.

Those in the Industry are aware.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Man2utd(m): 12:00pm On Feb 13, 2018
The problem is that there is no data, if you generate a certain MW of power, there should be a distrubution formula that ensures each household has supply for a certain number of hour per day.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by olaemmanuel93(m): 12:00pm On Feb 13, 2018
all na trash, that money is going to their pocket
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Lloydfather(m): 12:12pm On Feb 13, 2018
In other words u are trying to say Nigerians are not paying for electricity consumption that's why we as nation are losing 288 billions yearly and will lost 1.152 trillion in 4 years u will serve us as minister of power.


Honestly deziani is a saint to this guy


The way am looking at fashola right now

Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Kmartt(m): 12:13pm On Feb 13, 2018
Alejoas:
You are there to make the necessary changes Sir.....



Pls get back to work Mr Rocker Science!


I will like to have a feel of ur mobile power tingy
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by 989900: 1:11pm On Feb 13, 2018
People just comment on things they know next to nothing about.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by Lomprico2: 1:25pm On Feb 13, 2018
Fashola!! From one complain or excuse to the other. Haba! angry
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by akigbemaru: 3:40pm On Feb 13, 2018
softheart4love:


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.
Re: Power Sector Losing N24bn Monthly To Imported Fuel –fashola by jpphilips(m): 4:48pm On Feb 13, 2018
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/


Fashola is yet to realize that, when uninterrupted power is provided, Nigerians will still prefer Generators because public power won't be affordable judging by the gas infrastructure investment cost and MYTO.
Anyways!! the Average Nigerian only has eyes for the hr until a time calamity knocks, who could tell that Kachikwu's letter in October was a subtle announcement for Dec. petrol shortages?

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