another Chinese deal again..... issoke

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Bloody Scammers

emeijeh:
Fashola keeps forming busy, whereas the power is not improving on our respective communities.




Shame on the government

bro I don't know about you ooo.

BT I've been having close to 20hrs of electricity for the past two weeks,

meanwhile, the light am using at this moment was the light they brought by 6pm yesterday.



am at 33 Onitsha anambra state

Johnpaul2k2:
This is the 20th Time such "sign" has happened in Nigeria and nothing to show for it

And this is supposed to be funny?

If what you typed is true, then it is very sad indeed.

EFCC please place your radar on that deal. Nigerian monies have been syphoned through non execution of such projects.

Stealing/looting by other means,

Good

Check my signature to order your football jerseys and get it customized FREE OF CHARGE

Though I am sceptical, may it become a reality in my lifetime!

nairavsdollars:
What about the first one they signed when the president and his entire team went to China?

Nations will normally sign agreements at bilateral level. When it is done, it paves way for commercial negituatuins between business owners.

eikenberry:
If our Chinese brothers are investing 85% in this project what will be their gain?

We are selling them Nigeria, that's their gain

It such a big pity that in 2017, this country is still struggling with power generation, when other countries have long forgotten about this and are facing other issues. To say Nigeria with over 180 million population generates a meager < irregular 7,000MW of electricity while Estonia a Country with a population of just 1.9 Millon(Less than Ibadan alone) generates over 60,000MW is such a SHAME (putting it lightly).

South Africa with a population of 24 million generates over 90,000MW and guess what 90% of this from power is generated from coal, yeah, you heard me right, The same Coal we have in abundance in ENUGU, KOGI and BENUE...

And to say most of the youth are less concerned often leave my mouth wide agape, but mention, Bobrisky, Hushpuppy or tonto dinkeh now, This will be on it 12th page already.

China is a blessing to Africa. China is building infrastructure in African countries when compared to America and European countries.

GavelSlam:


Same thing that happened to your brain.

Botched.

You must be unwell.

Make them kontinue signing.

You will just hear signing signing and there wont be anytin to show at the end of everitin.

Who signing rep?

China is a blessing to Africa. China is building infrastructure in African countries and their conditions of development assistance is fair when compared to America and European countries.

China is a blessing to Africa. China is building infrastructure in African countries and their conditions of development assistance is fair when compared to America and European countries.

That's why America and European Union are jealous of the strong presence of China in Africa.

So So Story OO, Story Everyday, 4get Abt D Big Things Mk We Talk Abt D Smal Tinz. Nigeria Situation

GavelSlam:
Good work. This would also provide employment for a whole range of people from accountants to medics, from engineers to environmentalists.

Kudos to the government.

Ur aago got no Level.... Bro

modelmike7:
MY PRESIDENT IS WORKING!

Really. Was same for GEJ ?
You sign a paper and bam President is working.

Truth234:
The Federal Government and a consortium of three Chinese firms on Friday signed an agreement for the construction of the 3,050 megawatts Mambilla Hydroelectric Power Plant worth $5.79bn.

According to the government, the project which is being constructed in Taraba State is expected to be completed in six years.

Funding for the power plant will come from China and the Federal Government, as China Exim Bank and other Chinese lenders are expected to provide 85 per cent of the contract sum amounting to $4.92bn, while Nigeria will put forward 15 per cent amounting to $868.87m.

On the scope of work for the project, the government stated that it would include four large dams (Nya, Sumsum, Nghu and Api Weir), two underground power house of 12 units of 250MW each, two numbers of 330KV of 700km transmission lines to Markudi and Jalingo, 120km of access roads connecting the project site and nearby communities, as well as the resettlement of an estimated 100,000 impacted persons.

On August 30 this year, the Federal Executive Council approved the sum of $5,792,497,062 for the project which has been in the making for over 40 years.

The approval paved the way for the signing of the contract document with the China Gezhouba Group Corporation, Sinohydro Corporation Limited and the CGCOC Group Company Limited.

The government explained that the agreement would allow it to seek finance for its counterpart funding for the project.

The Minister of Power, Works and Housing, Babatunde Fashola, signed on behalf of the Federal Government, while for the Chinese companies, Yong Jun, Gan Yongzhi and Ye Shuijiv signed for the CGGC, Sinohydro and the CGCOC Group, respectively, at the event in Abuja.

Fashola said the project had opened a huge opportunity for the country to harness its hydroelectric potential for electricity and irrigation purposes, adding that when completed, the 3,050MW plant would change the dynamics in Nigeria’s power sector.

He said, “This project is a new dawn for Nigeria’s power diversity and energy mix. This project will give us the opportunity for energy security; it will give us the opportunity to comply with our Paris Climate Change Agreement because it will be delivering renewable energy.”

http://investorsking.com/mambilla-fg-chinese-consortium-sign-5-8bn-power-plant-agreement/

Nonsense i am 37 years now .. since i was born Nigerian do not have steady power supply. If Nigeria get loight 24hour in the next 30 years , i will give all Nairalander my wife to Bleep for free.. So dont celebrate this is Nigeria. Dont believe whatever is on the news.... They just use it to loot money.

hemartins:

Project has an indefinite completion time.
Who signature help.

Six years is what it is expected to take. That is not and 'indefinite completion time'. Vote for Social in the next election so that they will complete it. Bad belle.

thunder74:
Good development, hope someone somewhere will not divert the money.

Why is every projects in Nigeria always costlier than other countries?

How many equipments/ materials needed for the projects are produced in Nigeria?
Without that, the project cost will always be higher due to importation dues.

Let's play a game of "guess who's pocket this money will end up in"..

thunder74:
Good development, hope someone somewhere will not divert the money.

Why is every projects in Nigeria always costlier than other countries?

I thought i was the only one seeing it that way.... $5.8B for 3000MW that's way too ridiculous...... i think it's the usual Nigerian Contract Inflation stuff where about 70% is for those awarding the contract and the remaining 30% is for the contract..
well, let's see how it goes.

Truth234:
The Federal Government and a consortium of three Chinese firms on Friday signed an agreement for the construction of the 3,050 megawatts Mambilla Hydroelectric Power Plant worth $5.79bn.

According to the government, the project which is being constructed in Taraba State is expected to be completed in six years.

Funding for the power plant will come from China and the Federal Government, as China Exim Bank and other Chinese lenders are expected to provide 85 per cent of the contract sum amounting to $4.92bn, while Nigeria will put forward 15 per cent amounting to $868.87m.

On the scope of work for the project, the government stated that it would include four large dams (Nya, Sumsum, Nghu and Api Weir), two underground power house of 12 units of 250MW each, two numbers of 330KV of 700km transmission lines to Markudi and Jalingo, 120km of access roads connecting the project site and nearby communities, as well as the resettlement of an estimated 100,000 impacted persons.

On August 30 this year, the Federal Executive Council approved the sum of $5,792,497,062 for the project which has been in the making for over 40 years.

The approval paved the way for the signing of the contract document with the China Gezhouba Group Corporation, Sinohydro Corporation Limited and the CGCOC Group Company Limited.

The government explained that the agreement would allow it to seek finance for its counterpart funding for the project.

The Minister of Power, Works and Housing, Babatunde Fashola, signed on behalf of the Federal Government, while for the Chinese companies, Yong Jun, Gan Yongzhi and Ye Shuijiv signed for the CGGC, Sinohydro and the CGCOC Group, respectively, at the event in Abuja.

Fashola said the project had opened a huge opportunity for the country to harness its hydroelectric potential for electricity and irrigation purposes, adding that when completed, the 3,050MW plant would change the dynamics in Nigeria’s power sector.

He said, “This project is a new dawn for Nigeria’s power diversity and energy mix. This project will give us the opportunity for energy security; it will give us the opportunity to comply with our Paris Climate Change Agreement because it will be delivering renewable energy.”

http://investorsking.com/mambilla-fg-chinese-consortium-sign-5-8bn-power-plant-agreement/

Always signing MOU since 1733

WORLDPEACE:

Six years is what it is expected to take. That is not and 'indefinite completion time'. Vote for Social in the next election so that they will complete it. Bad belle.

Pls who is this?
Are you Nigerian
6 years is indefinite in this country.

modelmike7:
MY PRESIDENT IS WORKING!

Be like you just entered Nigeria today, projects like this, you 've to wait till they complete it before you start rejoicing.

Ezechinwa:

Be like you just entered Nigeria today, projects like this, you 've to wait till they complete it before you start rejoicing.

Okay, thanks.
I will wait jejely!!

modelmike7:

Okay, thanks.
I will wait jejely!!

what happened to the Yuen deal

Scam as usual

Every now and then ,power plant agreement with no outcome

Why are the Chinese paying more than our government, how are they going to benefit?
Anyways kudos to the FG for laying the ground work.