dannyspeejay:
Buhari will never make it in life

Bros he don make it already....let's find another curse for him....curse no dey work on dis ppl sef na to leave Dem to God

Hypocritical government, before we know it now 2023 is around the corner, only few people can ensure the pain .
Last last they will receive sense

Buhari is a bastard!


What is N5, what will N5 buy in present day Nigeria?

dannyspeejay:
Buhari will never make it in life

How e wan take make am again pass like this

Goldencheese:
How many times has this government increased fuel this year? How about light, taxes, food items and so many things. On top of it, no security for Nigerians.

What a government!

The govt is fuxkked..

They should increase salaries!

DrAkpa:


Invest in forex to enable u achieve this dream

You don start..............

benjanjo1:


please what do you mean by "never make it in life "?

You are talking about a retired military general, former head of PTF, former military head of state, a two term democratically elected president, amongst other achievements. biko wetin remain again? He has more than made it in life!

He forgot he is talking to his president

Mokason288:


Modified: for those foooooools quoting me

I see...

The determination of electricity tariffs in Nigeria is carried out by the Nigeria Electricity Regulatory Commission (“NERC”) ...this doesn’t mean that the Federal Government (“FG”) can’t move in to fund the revenue gap or tariff shortfall, calculated as the difference between the cost-reflective tariffs and the actual end-user tariffs payable by customers

Good point, BUT....there is a big problem with the arrangement

1.. Government has been having problems funding the shortfall. Infract, the shortfall is being funded by 'grants' read loans and also by government taking money from other sectors and paying the shortfall...and then taking loans to make up.
2.A lot of the gas supplers (most of our power is generated by gas fired plants) prefer to be paid in dollars for the gas they supply. The GENCOS have to source for the forex themselves since Emefiele is being too tightfisted with the dollars he has.(even for government cronies)...anbd since the naira is rising against the dollar...the cost of getting that gas goes up...
3.And the above arrangement you mentioned means in theory that GENCOS and DISCOS combined don't get enough of a profit which could be used to purchase gas, and also to maintain and upgrade existing facilites...with the result that power supply remains poor.
4.Whereas if NERC had not been there, and DISCOS and GENCOS had been allowed to set the prices, yes, we would have been charged highly for power but they would be making enough profits to pay for the gas to power their plants.
5.GENCOS and DISCOS have issues raising funds from the end consumers too. At least 40% of consumers don't pay their bills...and even when a meter is installed....some bypass the meters.


Now let's apply the arrangement that DISCOS and GENCOS are under to your (hypothetical) business

You are running a business selling rice. You buy rice at N20000 from the wholesaler, and plan to sell at N25000 retail...so that you have a prfoit to pay workers, the wholesalers., expand your business, and put food on the table....and build that nice structure in the village.

Government steps in, forces you to sell at N15000...AND pays you a shortfall money at N3000...which isn't regular.

At the end of the day, you lose at least N2000 every time you sell a bag of rice. What do you do...either you lie to the government about the bags of rice you are selling so that you get more shortfall money to cover your losses, or you sell on the black market, or you smuggle to a neighboring country where rice is sold at N27000 NAIRA....and pocket your profits. OR....you go bankrupt in the name of the poor.

That's how price controls affect an economy.

from the public hearings and consultations, the end user customers are not getting a tangible improvement in quality and quantity of electricity supply ...we never agreed to pay increased tariffs.... ://morgstreme don’t quote me again
I HOPE I MADE SENSE AGAIN

With DISCOS until recently selling power at a loss, and even with the increase in prices....having at least 40% of people not paying for power (and one executive at a DISCO told a relative of mine in confidence that in some areas, over 60% don't pay for power)...where do you expect the discos to get money to pay the gencos, and the government owned TCN to improve generation and transmission respectively.

Even the SIEMENS project is being funded by a loan. And let's be frank....it won't meet our needs. We need up to 50000mnw before we can talk of electricity for all.....and with the sector operating at a loss from day one, expecting them to suddenly perfrom miracles is wishful thinking.

And yes, even with looting...government has not been making enough money from selling crude since 2014...when oil prices fell.

Who will pay the #5.?
Is subsidy back?

Obere4u:
Who will pay the #5.?
Is subsidy back?

It never left.

So long as there is price controls by government...there is a subsidy.

The thing is....do you want to pay over N300 per liter for fuel...in return for there being no subsidy? There are benefits...refining fuel will become profitable....at home.No more imports, jobs galore.

popweezy:
If I fit manage see 2 million, tomorrow evening no go meet me 4 naija

Where you dey vamoose go ?

DrAkpa:


Invest in forex to enable u achieve this dream

Why should one invest in something notorious for its volatility?

themaestro08:


Why should one invest in something notorious for its volatility?

Because high risk leads to higher returns which will enable him achieve his dreams asap.

haha

dannyspeejay:
Buhari will never make it in life

Claudiusdeux:


nlc=organised labour I guess....



That's because Nigerian governments and the Nigerian people like subsides. The right thing for Buhari to have done would have been to abolish subsidy from the word go. The market would have done its thing eventually, and prices would have gone down by now.

But because that means prices as high as 300 naira per liter, and since he and his gang promised N40 fuel....

Subsides are always tough to remove. No Nigerian government has removed subsides. All they do is increase the price of fuel to the level where they can safely pay a subsidy.

The economy is going to suffer. Because Nigerians like subsides.

And the whole price control thing is why we don't have functional refineries. No incentive to refine at home. (Unless your name is Dangote and now the BUA guy)



1.Power for the most part is in private hands.

2.Until recently, Nigeria was producing power at N53 per kwh and selling at N30 per kwh or less. Which meant that DISCOS and GENCOS weren't making enough cash to fund improvements. That's why six years after privatization there has been no improvement in power.

3.You opposed subsidy in your second point. Yet, you want government to continue paying power companies a subsidy, which is what is was doing from 2014 till recently. And it was incurring a lot of debt in the process.Loans were even been taken.

4.The road to better power supply begins with power companies being allowed to run at a profit. Running companies at a loss, while politically popular, is a recipe for more poor electric power supply.

After all, the reason why I can type this missive from my home is because Obasanjo allowed GSM companies to run at a profit...even when people were calling for price controls back then. The GSM companies made ginormous profits...which were invested back in infrastructure...and our internet.




Somewhat. You rightly criticized Buhari for increasing subsides on fuel...(after he Buhari hypocritically criticized subsidies too in the past...) and then at the same time you want government to make DISCOS sell power below how much it costs to produce, and pay them a suybsidy to cover the loss..which won't do so, and which would cause more problems.

Like most Nigerians, you don't like subsides, yet you want the government to pay a subsidy, and force companies to run at a loss.

Its actually funny how Nigerians attribute the coming of GSMs to in Nigeria to Obasanjo. As if that was some an achievement or something. . Forgotten we are in the age of technology.

So today we have drones who do we attribute that to?

DrAkpa:


Because high risk leads to higher returns which will enable him achieve his dreams asap.

Misleading and totally untrue.


For one to make enormous gains in forex it requires a good amount of knowledge about how it works. Needless to say, I can't remember the number of people who have lost tremendous amounts of money trading uncertainty.

And do you know no signal provider is 90% accurate? One of the most reliable (forgot its name) is a tad 85%.

Give me good reasons why one should venture in something unpredictable ?

Rent Artificial Grass For Your Upcoming Event from Nigeria's Number One Importers of Artificial Grass.

Claudiusdeux:


It never left.

So long as there is price controls by government...there is a subsidy.

The thing is....do you want to pay over N300 per liter for fuel...in return for there being no subsidy? There are benefits...refining fuel will become profitable....at home.No more imports, jobs galore.

Wasn't subsidy removal the thing people wanted?
The thing is that Nigerians want everything cheap. They think subsidy removal will make fuel price cheap.

themaestro08:


Its actually funny how Nigerians attribute the coming of GSMs to in Nigeria to Obasanjo. As if that was some an achievement or something. . Forgotten we are in the age of technology.

So today we have drones who do we attribute that to?

Well, I didn't necessarily attribute GSM to Obasanjo....but he was in power when it did arrive, and it was under his regime that the first licenses and calls were made.

Besides my comment on Obasanjo and GSM was

Obasanjo allowed GSM companies to run at a profit...even when people were calling for price controls back then. The GSM companies made ginormous profits...which were invested back in infrastructure...and our internet.

Refers to the fact that Obasanjo allowed the GSM companies free rein to charge what they wanted for their services...and yes, back then people were calling on his government to cut the price of GSM phones as well as complaining about the poor services they got back then (in 2002, a SIM could work in very limited regions, calls between networks were difficult and expensive, and internet was not possible...unless you had a VSAT dish or 'dial up'..run by NITEL then and very very slow...and mostly available in internet cafes. A phone then could only make and recive calls and SMS).

Obasanjo did not listen to such people, the GSM companies made their profits and as a result they were able to invest in providing the tech and facilities that have made our IT sector grow.

Obere4u:

Wasn't subsidy removal the thing people wanted?
The thing is that Nigerians want everything cheap. They think subsidy removal will make fuel price cheap.

Well, it should after a (long and variable) period of high prices.

But you are right...Nigerians want cheap fuel. If Buahri reduces fuel to his mythical N40 per liter...or N10 per liter...he would be hailed as a hero...while the treasury would be spending billions just to subsidze fuel..and we would be taking loans to pay salaries and build roads.

themaestro08:


Misleading and totally untrue.


For one to make enormous gains in forex it requires a good amount of knowledge about how it works. Needless to say, I can't remember the number of people who have lost tremendous amounts of money trading uncertainty.

And do you know no signal provider is 90% accurate? One of the most reliable (forgot its name) is a tad 85%.

Give me good reasons why one should venture in something unpredictable ?

Please I don't have time for silly arguments with you this morning. I have passed my advice to the o.p, if he wants to take it, good for him, if he doesn't, then that is his cup of tea. No be me want travel.

popweezy:
If I fit manage see 2 million, tomorrow evening no go meet me 4 naija

bad pikin spot

Jesus is Lord...5 Naira wey we no de see for this country again. 5 Naira, 5 Naira, oga you are a joke

Nigeria don enter 1 chance...5 Naira that does not exist anymore..

This country don expire there's no need, lets just throw it away

DrAkpa:


Please I don't have time for silly arguments with you this morning. I have passed my advice to the o.p, if he wants to take it, good for him, if he doesn't, then that is his cup of tea. No be me want travel.

Shut up .

Instead of giving a good argument you end of disgracing yourself

The honest truth is that Nigeria has been in depression since 2016

Nigeria GDP has shrunk from $600 billion in 2014 to close to $300 billion today, the recorded unemployment is now 27.10 percent in the second quarter of 2020

A recession is a widespread economic decline that lasts for several months.
 A depression is a more severe downturn that lasts for years.

In the Great Depression, GDP was negative for six out of the 10 years. In 1932, it shrank by a record of 12.9%.4

Unemployment reached 25%.

Your sense is Just too much..I repeat it just too much...

Claudiusdeux:


nlc=organised labour I guess....



That's because Nigerian governments and the Nigerian people like subsides. The right thing for Buhari to have done would have been to abolish subsidy from the word go. The market would have done its thing eventually, and prices would have gone down by now.

But because that means prices as high as 300 naira per liter, and since he and his gang promised N40 fuel....

Subsides are always tough to remove. No Nigerian government has removed subsides. All they do is increase the price of fuel to the level where they can safely pay a subsidy.

The economy is going to suffer. Because Nigerians like subsides.

And the whole price control thing is why we don't have functional refineries. No incentive to refine at home. (Unless your name is Dangote and now the BUA guy)



1.Power for the most part is in private hands.

2.Until recently, Nigeria was producing power at N53 per kwh and selling at N30 per kwh or less. Which meant that DISCOS and GENCOS weren't making enough cash to fund improvements. That's why six years after privatization there has been no improvement in power.

3.You opposed subsidy in your second point. Yet, you want government to continue paying power companies a subsidy, which is what is was doing from 2014 till recently. And it was incurring a lot of debt in the process.Loans were even been taken.

4.The road to better power supply begins with power companies being allowed to run at a profit. Running companies at a loss, while politically popular, is a recipe for more poor electric power supply.

After all, the reason why I can type this missive from my home is because Obasanjo allowed GSM companies to run at a profit...even when people were calling for price controls back then. The GSM companies made ginormous profits...which were invested back in infrastructure...and our internet.




Somewhat. You rightly criticized Buhari for increasing subsides on fuel...(after he Buhari hypocritically criticized subsidies too in the past...) and then at the same time you want government to make DISCOS sell power below how much it costs to produce, and pay them a suybsidy to cover the loss..which won't do so, and which would cause more problems.

Like most Nigerians, you don't like subsides, yet you want the government to pay a subsidy, and force companies to run at a loss.

Claudiusdeux:


I see...


Good point, BUT....there is a big problem with the arrangement

1.. Government has been having problems funding the shortfall. Infract, the shortfall is being funded by 'grants' read loans and also by government taking money from other sectors and paying the shortfall...and then taking loans to make up.
2.A lot of the gas supplers (most of our power is generated by gas fired plants) prefer to be paid in dollars for the gas they supply. The GENCOS have to source for the forex themselves since Emefiele is being too tightfisted with the dollars he has.(even for government cronies)...anbd since the naira is rising against the dollar...the cost of getting that gas goes up...
3.And the above arrangement you mentioned means in theory that GENCOS and DISCOS combined don't get enough of a profit which could be used to purchase gas, and also to maintain and upgrade existing facilites...with the result that power supply remains poor.
4.Whereas if NERC had not been there, and DISCOS and GENCOS had been allowed to set the prices, yes, we would have been charged highly for power but they would be making enough profits to pay for the gas to power their plants.
5.GENCOS and DISCOS have issues raising funds from the end consumers too. At least 40% of consumers don't pay their bills...and even when a meter is installed....some bypass the meters.


Now let's apply the arrangement that DISCOS and GENCOS are under to your (hypothetical) business

You are running a business selling rice. You buy rice at N20000 from the wholesaler, and plan to sell at N25000 retail...so that you have a prfoit to pay workers, the wholesalers., expand your business, and put food on the table....and build that nice structure in the village.

Government steps in, forces you to sell at N15000...AND pays you a shortfall money at N3000...which isn't regular.

At the end of the day, you lose at least N2000 every time you sell a bag of rice. What do you do...either you lie to the government about the bags of rice you are selling so that you get more shortfall money to cover your losses, or you sell on the black market, or you smuggle to a neighboring country where rice is sold at N27000 NAIRA....and pocket your profits. OR....you go bankrupt in the name of the poor.

That's how price controls affect an economy.


With DISCOS until recently selling power at a loss, and even with the increase in prices....having at least 40% of people not paying for power (and one executive at a DISCO told a relative of mine in confidence that in some areas, over 60% don't pay for power)...where do you expect the discos to get money to pay the gencos, and the government owned TCN to improve generation and transmission respectively.

Even the SIEMENS project is being funded by a loan. And let's be frank....it won't meet our needs. We need up to 50000mnw before we can talk of electricity for all.....and with the sector operating at a loss from day one, expecting them to suddenly perfrom miracles is wishful thinking.

And yes, even with looting...government has not been making enough money from selling crude since 2014...when oil prices fell.

HUMONGOUS BULLSHIT!!!!!!!

This is the best Christmas gift for Balogunodua the Afonja dog

morgstreme:


HUMONGOUS BULLSHIT!!!!!!!

Correction-should have added...extra-..

Good afternoon