[size=13pt]Nigeria Needs $10bn Annually to Achieve 40,000 MW[/size]

The Federal Government Thursday said for Nigeria to achieve 40,000 Megawatts by 2020, it has to make an investment of $10 billion annual over the next 10 years.

Minister of Power, Prof. Bath Nnaji, however, explained that government did not have such money and said that underscored the need for the Federal Government to partner the private sector to achieve this feat.

The Minister, who was represented by the Special Adviser to the Minister, Mr. Chukwuemeka Adinuba, at a symposium organised by the construction and engineering services group of the Lagos Chamber of Commerce and Industry (LCCI), said based on this development, as early as 2005, the government, through the National Assembly, passed the electricity power reform bill into law to confront any stumbling block to the realisation of the Federal Govern-ment’s target to generate 4,000 Megawatt, by year 2020.

“In other words, the six power generation companies and the 11 distribution firms will become private sector-owned companies in the first quarter of 2012. The Transmission Company of Nigeria (TCN) will remain government-owned but managed by a firm with a well established record and reputation,” he said.

He added: “The determination to do the right thing in the power sector, no matter whose ox is gored, explains our disengagement and redeployment of some chief executive officers and other executives in the Power Holding Company of Nigeria (PHCN) system since a new administration came into being in the Federal Ministry of Power.”

He said the ministry had set up a committee to fold up PHCN but expressed regret that it had been confronted by people from all angles the ministry did not expect.

“We are determined because we have the support of the President. We have made it clear that the President is not a politician otherwise he would have insisted on PHCN and its supported companies remaining government-owned and managed,” he added.

He, however, cautioned that even though the country achieves 40,000 Megawatts, it would not be enough to solve the needs of the country. He cited South Africa as an example, saying that country with a population of about 47 million was still battling with inadequate power supply, adding that with Nigeria’s current population, 40,000 Mega-watt would not be able to meet the power needs of its people.

“So, we need to do more than 40,000 Megawatts. As a result we are looking at ways to augment what we presently have. Currently we have two major sources which are hydro and thermal. We are now adding the third source which is coal.

“We are building three coal fire power stations in Enugu, Gombe and Kogi. Nigeria’s coal is the highest in terms of quality in the world. It is only coal from Australia that can compete with Nigeria. We are doing 1,000 Megawatts in each station,” he added.

Also speaking at the event, the President of LCCI, Otunba Femi Deru, said apart from the investment in the 40,000 Megawatts, there were substantial investments that needed to be made in the other aspects of the supply chain, including the transmission and distribution networks.

He said in a developing country, the government had a fundamental responsibility to provide infrastructure and security to stimulate private investment and guarantee real economic growth.

“The success or failure of a government should be measured by its performance in these areas. My plea therefore is that while we pursue the reforms, we need to reconstruct our priorities in favour of more investments in infrastructures,” he said.

He added that the management of utilities should be insulated from the bureaucracy and political interference in the country and said that the problem with most of the utilities was not so much the lack of resources but the appalling quality of management and scandalous corruption.

http://www.thisdaylive.com/articles/nigeria-needs-10bn-annually-to-achieve-40-000-mw/99070/

These people think they are fooling themselves. Instead of that, give us the money and do nothing. If we cant get private investors (especially local) to invest in a lucrative business like electricity generation and distribution, then we don't deserve to be called humans. After spending billions on this, we still would pay for electricity (probably higher than others pay). FVck the federal government, they should bow their heads in shame. Goddamn losers.

Thats like a whopping 100 billion dollars plus the 40 million abi billion dollars obasanjo use for him own. And there wouldn't even be a 24hr light guarantee. Please I need help; is there any job vacancy in the ministry of power? Please someone help me out,

What Nnaji is saying in other words is that Nigeria will never see constant electricity in its life time. Or in other word that the country is condemned to gross under-developrment no matter the amount of money poured down the pit of this tall dream. One should be asking the Nigeria government, whose interest does it serve to have the federal governement excercise an exclusive legislative right on issues relating to power supply in the country? If getting constant electricity is this difficult, how come the countries we look down on as banana republic, has long past the age of considering constant electricity a luxury. And finally, these sort of frightening figures, are they meant to help us choose an option, be ready to pay this much or enjoy the blackout?? I 've truly lost faith in this entity.

They are simply trying to loot nigeria dry buy runnin these power plant down in terms of its value and buy them but before they do that they would pump as much money (Nigeria money) into it.
How else can u explain these funny figures.

what is happening to us

This man is just telling us to forget about 24/7 electricity, with all what is saying the even the 10b will not solve half of our problem. however, I got a solution to this issue of electricity in this country.

the bible says, when the wicked are in power, the ppl suffer but when the righteous are in power, the ppl rejoice. are we rejoicing or suffering? the answer says who is in power, the wicked or the righteous.
shame to those of us who voted pdp. this so called pdp is a group of occultic members who have nothing to do with light. what is wrong is using what we have(oil) to get what we need(electricity). if nigerian rulers and this pdp occultic powers are saying we can't or we does not have what it takes to obtain steady power supply, why can't we hand this oil over to other foreigners and see if wetin 2 yrs, we will not have steady power supply here.
i have taken my time to study the likes of prof. morris iwu, prof. soludo, prof. Jega and now prof. Nnaji and i have come to terms that what we have here in nigeria as professors are mostly naughty professors. we have professors that reason like goats and dogs.
how can a morally dead man like obasanjo be a leader in a country and such country is expecting good things? how will a president(jonathan) who celebrates who he will do instead of what he has done be the messiah? we are in a jungle and been a nigeria is the first mistake of every man kind.
unless, nigerians are ready to die and stand up against these evil forces(pdp) and introduce the new way of life as we saw in egypt, tunisia, algeria and libya, there will never be a change anywhere.

NAIJA,
GOOD PEOPLE,GREAT NATION.
smh!

1025:

i have taken my time to study the likes of prof. morris iwu, prof. soludo, prof. Jega and now prof. Nnaji and i have come to terms that what we have here in nigeria as professors are mostly naughty professors. we have professors that reason like goats and dogs.

Why do we like this "professor" title? They are not lecturing in any university, are they? They are not in charge of any research institute, are they?


They are politicians. . . . they are businessmen.

Professors? Sorry, they are ignorant!

Ola one:

Why do we like this "professor" title? They are not lecturing in any university, are they? They are not in charge of any research institute, are they?
They are politicians. . . . they are businessmen.

Professors? Sorry, they are ignorant!

That I noticed and in fact I can't make head or tails of.

Power should be completely privatized. Though that would result in skyrocket cost, it is the only viable and realistic option to meet our energy needs.

does it mean people like us who are waiting for a steady power supply to open a small scale industry will not see it done in our life time!
God of vengeance must surely visit each and every one of them that ruined this great nation.

Corrupt professors that have not done or presented a reputable research in their academic career. Running this country we call Nigeria is becoming a child's play. In fact, Biafra should start thinking of succeeding. This artificial country called 'Nigeria' is a joke and has always been.

The power needs will continue to rise. The supply also will rise. He was only making a statement of what would be the case if the current plans are not carried out.

if they will have to cut the allowances of some people to raise the money i don't care.

What happened to renewable energy sources? They are not promoting or encouraging it. They ought to be thinking about coming up with ways to give subsidies so that people can be able to afford these new technologies and generate electricity as well.

Other countries are already in the new age of electricity generation by investing in new technologies but Nigeria is still in the stone age of coming to terms about having constant electricity using already existing old technology is proving difficult. This country is a JOKE!

rubbish

@Post
Just get 2 senators to forfeit their bonuses and Voila! !
retards.

the EFCC has to take the money that was stoeln from Nigeria for that power. After power we need better roads then we will have great infrastructure.

In other words, Nigerians should not expect constant electricity supply until the said year 2056

LMAO,

And you wonder why people are eager to leave this godforsaken country .2020, world would have ended before naija sees 24/7 electricity.

I only know him as a genius in robotics.
I wonder why he abandoned robotics to become a power contractor and now the minister.

$100b is outrageous. That's roughly the construction cost of the international space station!

Cygni:

$100b is outrageous. That's roughly the construction cost of the international space station!

right, probably they factored in some yachts,bugatti veyrons,G5 private jets,swiss bank accounts and palatial mansions, which means the project will never be done

@kabukabu. That's Nigerian officials for u.

Generator business! The best booming business till 2030!

Generator Mechanic - The next job of the decade in Nigeria!

For those guys looking for job - Please go and learn generator mechanic there is enough money in it!

Calculate each generator serviced at N500 x 10 gen in a day [minimum] = N5k every day by 6 days! u know the rest!

The cost to build 1mw is roughly about 1 million dollars multiply that 40000 mw is equal to 40 billion dollars. Where the 100 billion figures comes from I don't know

greateros:

Generator business! The best booming business till 2030!

Generator Mechanic - The next job of the decade in Nigeria!

For those guys looking for job - Please go and learn generator mechanic there is enough money in it!

Calculate each generator serviced at N500 x 10 gen in a day [minimum] = N5k every day by 6 days! u know the rest!

Make una no kill me with laff ooo

OAM4J:

[size=13pt]Nigeria Needs $10bn Annually to Achieve 40,000 MW[/size]

The Federal Government Thursday said for Nigeria to achieve 40,000 Megawatts [b][/b]by 2020, it has to make an investment of $10 billion annual over the next 10 years.

Minister of Power, Prof. Bath Nnaji, however, explained that government did not have such money and said that underscored the need for the Federal Government to partner the private sector to achieve this feat.

The Minister, who was represented by the Special Adviser to the Minister, Mr. Chukwuemeka Adinuba, at a symposium organised by the construction and engineering services group of the Lagos Chamber of Commerce and Industry (LCCI), said based on this development, as early as 2005, the government, through the National Assembly, passed the electricity power reform bill into law to confront any stumbling block to the realisation of the Federal Govern-ment’s target to generate 4,000 Megawatt, by year 2020.

“In other words, the six power generation companies and the 11 distribution firms will become private sector-owned companies in the first quarter of 2012. The Transmission Company of Nigeria (TCN) will remain government-owned but managed by a firm with a well established record and reputation,” he said.

He added: “The determination to do the right thing in the power sector, no matter whose ox is gored, explains our disengagement and redeployment of some chief executive officers and other executives in the Power Holding Company of Nigeria (PHCN) system since a new administration came into being in the Federal Ministry of Power.”

He said the ministry had set up a committee to fold up PHCN but expressed regret that it had been confronted by people from all angles the ministry did not expect.

“We are determined because we have the support of the President. We have made it clear that the President is not a politician otherwise he would have insisted on PHCN and its supported companies remaining government-owned and managed,” he added.

He, however, cautioned that even though the country achieves 40,000 Megawatts, it would not be enough to solve the needs of the country. He cited South Africa as an example, saying that country with a population of about 47 million was still battling with inadequate power supply, adding that with Nigeria’s current population, 40,000 Mega-watt would not be able to meet the power needs of its people.

“So, we need to do more than 40,000 Megawatts. As a result we are looking at ways to augment what we presently have. Currently we have two major sources which are hydro and thermal. We are now adding the third source which is coal.

“We are building three coal fire power stations in Enugu, Gombe and Kogi. Nigeria’s coal is the highest in terms of quality in the world. It is only coal from Australia that can compete with Nigeria. We are doing 1,000 Megawatts in each station,” he added.

Also speaking at the event, the President of LCCI, Otunba Femi Deru, said apart from the investment in the 40,000 Megawatts, there were substantial investments that needed to be made in the other aspects of the supply chain, including the transmission and distribution networks.

He said in a developing country, the government had a fundamental responsibility to provide infrastructure and security to stimulate private investment and guarantee real economic growth.

“The success or failure of a government should be measured by its performance in these areas. My plea therefore is that while we pursue the reforms, we need to reconstruct our priorities in favour of more investments in infrastructures,” he said.

He added that the management of utilities should be insulated from the bureaucracy and political interference in the country and said that the problem with most of the utilities was not so much the lack of resources but the appalling quality of management and scandalous corruption.

http://www.thisdaylive.com/articles/nigeria-needs-10bn-annually-to-achieve-40-000-mw/99070/

in as much as meeting that target is a diificult task but $10b annually is outrageous.

24 hour power supply? BYE BYE!