mZ:

hA

edoboy33:
president yemi osinbajo should make power generation a top priority in his administration and also subtle the level of corruption in the power sector which started from corrupt obasanjo to the ineffectual baboon

you see how daft you are?

please don't share the money as usual o. Remember God. we've heard this kind of thing b4, just praying that this will b different.

They shd see to how every penny was used out of that 701bn. Otherwise this will go same way other billions have gone supposed for electricity.

They should just use this money and buy 10 litres each of fuel and distribute to 190 million Nigerians and we will all forget about electricity.

I don't know about where y'all from but I hear strange things are bound to happen during the end of days. NEPA no de carry light again for we area, isn't that strange?

asuustrike2009:

What if it doesn't it.?

I will be surprised and happy, if it doesn't.

princemillla:


Kudos Fashola..... Wish we av more vibrant and intelligent personality like Fashola to head most of the ministries, may b we won't be here

where are we? what has fashola achieved ?

edoboy33:
president yemi osinbajo should make power generation a top priority in his administration and also subtle the level of corruption in the power sector which started from corrupt obasanjo to the ineffectual baboon

Those people who like to wallow in poverty and fight over nothing will be coming for you. Be careful.

If Nbet is paying the gencos from cbn's pocket they why are we paying bills to discos ? Is the government technically subsiding power

We have been hearing this shìt for years
at this stage one must be a fool to believe that anything will change.
BTW I thought the whole power generation thing was in the hands of individual.s

What of the ones Obasanjo approved? Yaradua nko ?

We av dis kind of money yet our people ar surfering in d name of recesion

Another story from the APC house of propaganda.
Does anyone have 24/7 electricity that they promised?
No.

deeplow:


Anybody that says it how it is, is a pdp/jonathan follower? Don't be ignorant.

BUT THAT IS JUST THE WAY IT IS.
TRY TO DEAL WITH THAT OK

ceejay80s:


where are we? what has fashola achieved ?

With ur view Ill chose not to respond to u. Have a nice day

Jesusloveyou:
you think is the era of your ineffectual buffoon. Where money enter pocket.

Money has been entering people's pockets anyhow in this government. I remember people clearing grass in the desert with N270m, people getting forex at a ridiculous rate of N3/dollar and selling it for N520, people getting kick back to reduce the fine of a telecom company. Over N5.2tr is said not to be remitted by NNPC for over two years now.
Wasn't Fashola the one who showed us the relationship between a serious government and electricity in six months? Has the relationship proved workable?

Haa. Oga Fashola get enough cash to fund APC 2019 again... Fashola always has a way to cover his tracks in terms of embezzling and inflating project. Doctorate holder in inflated price of projects

princemillla:


Kudos Fashola..... Wish we av more vibrant and intelligent personality like Fashola to head most of these ministries, may b we won't be here

Developed Nations are using nuclear energy to generate power, we 're still here playing around...

ceejay80s:
@ topic : STORY

beware of james owunna ,he is a fraud and a thief

WHAT ARE YOUR REASONS FOR CALLING THIS GUY A THIEF?
I'M ASKING BECAUSE THE FACE LOOKS FAMILIAR.
PLEASE LET US KNOW YOUR REASONS AND SAVE SOULS

Cire80:
What of the ones Obasanjo approved? Yaradua nko ?

Obasanjo with $16 billion for electricity stolen is still the baba of some 200 million mumus.

One of the best decisions made so far and it is a major game changer.

seguno2:


Obasanjo with $16 billion for electricity stolen is still the baba of some 200 million mumus.

Only those that want to be deceived can be deceived. I ain't one of them.

Really, ok oooo.

deeplow:
The money will soon disappear as usual.

You are right: Because you can't appreciate a mad said: he dress good , meanwhile just a few munite the dressing will turn into another thing

seguno2:


Obasanjo with $16 billion for electricity stolen is still the baba of some 200 million mumus.

OBJ bought new turbine for Kainji

Built Afam VI

Built Omotosho IPP

Built Geregu IPP.

Started 80% of all IPPS running today.

His projects are responsible for generating 85% of the MWs we have today.

No sane person will take u serious. What's your p with someone who u claimed failed. Another of your master is failing already now

Jesusloveyou:
you think is the era of your ineffectual buffoon. Where money enter pocket.

energywatchng:
The federal government has approved the sum of N701billion as Power Assurance Guarantee for the Nigeria Bulk Electricity Trading (NBET).

Briefing State House correspondents after the Federal Executive Council (FEC) meeting chaired by the Acting President, Prof Yemi Osinbajo, the Minister of Power, Works and Housing, Babatunde Fashola, said the facility would be made available by the Central Bank of Nigeria (CBN).

This, according to him, is to guarantee payment for the evacuation of electricity produced by Generation Companies (GenCos) to the national grid.

* As Generation Hits 4, 614.60 MW check more generation statistics

The minister said the amount would be drawn on a monthly basis to tackle the liquidity challenges faced by Gencos, noting that part of the liquidity problem faced by GenCos was the inability to pay their gas suppliers.
He pointed out that NBET would pay Gencos in arrears of electricity generated as a deliberate step to improve their confidence and that of intending investors in the sector.

He said: “The second memorandum is in another area of critical importance which is power. Part of the challenges that were addressed in the memo that was presented to council to solve some of the liquidity problems, especially as it relates to NBET.

“NBET, as you know, is the government’s own company. That is the bulk electricity trader who buys power from the Gencos. The liquidity problems that have characterised the market have affected NBET’s ability to deliver on its PPP obligations through the Gencos. So, going forward in order to strengthen NBET, CBN is proving a payment assurance guarantee for any energy produced by any Gencos, so that the Gencos can pay their gas suppliers when they get paid. So that the hydros can continue to operate.

“What we seek to achieve here is to bring some stability to the production side of the power value chain and also give confidence to investors who want to come in; who are concerned about how to recover their money. Payment assurance and also people who are planning to invest in the gas sector which is being championed by the ministry of petroleum also are saying the same thing in terms of payment for gas produced.”

He said the approval given by FEC was to provide this guarantee for NBET which he said, was a one hundred per cent government-owned company to pay on a monthly basis its obligations for energy actually produced on to the grid to the Gencos that were its customers.

Explaining further, he said: “The reality is that we want more power and for that reason we are expanding our transmission capacity regularly. I have been here to announce to you transmission projects that have been approved by council and over the last one year plus the transmission capacity has grown to almost seven thousand from fie thousand and is continuing to grow with every project.

“So, it is not the problem of taking power, it is actually a problem of getting power from generation. If you recall, just about a few weeks ago, you were reporting that power supply had dropped to a little over 2000mw. It is back now at over 4,000mw. We have solved the transmission problem in Ikot Ekpene largely to evacuate over a thousand. But the gas suppliers were being owed so they were not supplying gas for the power producers.
Fashola said the quantum of the guarantee was for two years from January this year right through to December 2018.

“It is capped at a maximum of N701billion but it is to be drawn monthly. It is possible it may not reach that. But we are projected on the total cost that NBET will likely to pay,” he added.

He explained: “So, if the power generated does not meet that cost we don’t pay for it. It is paid in arrears at the end of the month not in advance. So, it is for actually what gets unto the grid. And this is part of the reforms that we have briefed you about that we were planning to undertake.”

During the briefing on Wednesday, the Minister of Agriculture, Audu Ogbeh, said FEC had approved the sum of N263 million for three research institutions to produce Arabic gum seedlings for Nigerian farmers and for export.
He said Nigeria earned as much as $43 million from export of gum Arabic last year, and that more would be earned with increased production, especially now that the commodity was in high demand in 17 other countries.
Ogbeh disclosed that similar efforts were on to boost cassava production, even as he described as “interesting” the recent discovery of well-packaged ‘garri’ imported from India.

http://www.energywatchng.com/fg-approves-n701bn-boost-electricity-generation/

Apc Scam

energywatchng:
The federal government has approved the sum of N701billion as Power Assurance Guarantee for the Nigeria Bulk Electricity Trading (NBET).

Briefing State House correspondents after the Federal Executive Council (FEC) meeting chaired by the Acting President, Prof Yemi Osinbajo, the Minister of Power, Works and Housing, Babatunde Fashola, said the facility would be made available by the Central Bank of Nigeria (CBN).

This, according to him, is to guarantee payment for the evacuation of electricity produced by Generation Companies (GenCos) to the national grid.

* As Generation Hits 4, 614.60 MW check more generation statistics

The minister said the amount would be drawn on a monthly basis to tackle the liquidity challenges faced by Gencos, noting that part of the liquidity problem faced by GenCos was the inability to pay their gas suppliers.
He pointed out that NBET would pay Gencos in arrears of electricity generated as a deliberate step to improve their confidence and that of intending investors in the sector.

He said: “The second memorandum is in another area of critical importance which is power. Part of the challenges that were addressed in the memo that was presented to council to solve some of the liquidity problems, especially as it relates to NBET.

“NBET, as you know, is the government’s own company. That is the bulk electricity trader who buys power from the Gencos. The liquidity problems that have characterised the market have affected NBET’s ability to deliver on its PPP obligations through the Gencos. So, going forward in order to strengthen NBET, CBN is proving a payment assurance guarantee for any energy produced by any Gencos, so that the Gencos can pay their gas suppliers when they get paid. So that the hydros can continue to operate.

“What we seek to achieve here is to bring some stability to the production side of the power value chain and also give confidence to investors who want to come in; who are concerned about how to recover their money. Payment assurance and also people who are planning to invest in the gas sector which is being championed by the ministry of petroleum also are saying the same thing in terms of payment for gas produced.”

He said the approval given by FEC was to provide this guarantee for NBET which he said, was a one hundred per cent government-owned company to pay on a monthly basis its obligations for energy actually produced on to the grid to the Gencos that were its customers.

Explaining further, he said: “The reality is that we want more power and for that reason we are expanding our transmission capacity regularly. I have been here to announce to you transmission projects that have been approved by council and over the last one year plus the transmission capacity has grown to almost seven thousand from fie thousand and is continuing to grow with every project.

“So, it is not the problem of taking power, it is actually a problem of getting power from generation. If you recall, just about a few weeks ago, you were reporting that power supply had dropped to a little over 2000mw. It is back now at over 4,000mw. We have solved the transmission problem in Ikot Ekpene largely to evacuate over a thousand. But the gas suppliers were being owed so they were not supplying gas for the power producers.
Fashola said the quantum of the guarantee was for two years from January this year right through to December 2018.

“It is capped at a maximum of N701billion but it is to be drawn monthly. It is possible it may not reach that. But we are projected on the total cost that NBET will likely to pay,” he added.

He explained: “So, if the power generated does not meet that cost we don’t pay for it. It is paid in arrears at the end of the month not in advance. So, it is for actually what gets unto the grid. And this is part of the reforms that we have briefed you about that we were planning to undertake.”

During the briefing on Wednesday, the Minister of Agriculture, Audu Ogbeh, said FEC had approved the sum of N263 million for three research institutions to produce Arabic gum seedlings for Nigerian farmers and for export.
He said Nigeria earned as much as $43 million from export of gum Arabic last year, and that more would be earned with increased production, especially now that the commodity was in high demand in 17 other countries.
Ogbeh disclosed that similar efforts were on to boost cassava production, even as he described as “interesting” the recent discovery of well-packaged ‘garri’ imported from India.

http://www.energywatchng.com/fg-approves-n701bn-boost-electricity-generation/

Please can someone convert the money for me in Dollars Lets know the game.... Please give me half of the money i will use it to make NIgeria to have 24/7 light Since 1960 till today same story, I can not contact my wife cause of lack of light to charge phone