Nigeria has spent a total of $12.38 billion in the last 46 years. Between 1999 and 2019 Nigeria Spent N2 trillion and Buhari spent 45% of that fund.

The chronological timeline is shared below

1973-1998: The Nigerian government spent $1.83bn on installing 5.715GW Hydro and Gas power plants.

Please note the Nigerian Naira was stronger than the USD from 1973 till 1985 and it started tumbling from 1986 onwards.

1999-2019: Our federal lords spent a paltry N2 trillion and they expect Magic to happen.

The cash we have spent in the last 46 years in the power Sector is not up to the Annual revenue generated From the South African Electricity Sector.

N955bn+ which was released to the power ministry within the year captured exclusive of MYTO subsidies as follows:

*1999 – N11.206 billion appropriated, N6.698billion released;

*2000 – N59.064billion appropriated, N49,785 billion released;

*2001 – N103. 397 billion appropriated, N70.927 billion released;

*2002 – N54.647billion appropriated, N41.196 billion released;

*2003 – N55.583billion appropriated, N5.207billion released;

*2004 – N54.647billion appropriated, N54. 647billion released;

*2005 – N90.283 billion appropriated, N71.889 billion released;

*2006 – N74.308 billion appropriated, N74. 3 billion released;

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

*2007 – N100 billion appropriated, N99.8 billion released;

*2008 – N156 billion appropriated, N112 billion released;

*2009 – N89. 5 billion appropriated, N87billion released;

*2010 – N172 billion appropriated, N70 billion released;

Total N368.8 billion ($2.63 billion) Yardua Regime and a Grand total inclusive of MYTO subsidies N442.4 billion ($3.28 billion)


*2011 – N125 billion appropriated, N61 billion released;

*2012 – N197. 9 billion appropriated, N53. 5billion released;

*2013- N146 billion appropriated, N49 billion released;

*2014 – N69.8 billion appropriated, N48 billion released; and,

Total N211.5 billion ($1.36 billion) GEJ Regime and a Grand total of N293 billion inclusive of MYTO subsidies $1.89 billion


*2015 – N5. 240billion appropriated, no record but we can say it is not 100% funded.

*2015 -2019 N900 billion was released according to Vice President Osinbajo and another 600 billion is in the pipeline

N155b released as subsidy fund for MYTO Multi Year Tariff Order (MYTO) ($1.05 billion)

The funds were given for a period of five years. A breakdown of the interventions funds are as follows:

*2009 – N30.8 billion

*2010 -N43.2 billion

*2011 – N37.0 billion

*2012 – N11.5 billion

*2013 – N32.6 billion.

$8.23bn was released to NIPP from ECA to push our installed generating capacity with 5GW and OBJ regime released $3.08bn while the balance was spent between 2007-2015

Federal Government made $2.238 billion about N358 billion from the sale of 15 Power Holding Company of Nigeria, PHCN

Our Spending according to CBN and other verifiable sources like Budget office

(1)Obasanjo Regime -N374.65 bn $2.88 bn)

(2)Yar'adua RegimeN442.4bn ($3.28bn)

(3)GEJ Regime - N293 bn $1.89 billion

From 1999 - 2015 Nigerian Government invested N1.109 trillion inclusive of MYTO subsidies

(4)Buhari Regime - N900bn $2.95 billion

This is a grand total of N2 trillion in the last 20 years and in Dollar Value is $11 billion in twenty years

From 1973 till date Nigerian Government has spent a total of $12.83 billion and when the sold PHCN the made $2.238 billion.

The Presidential Review Panel on the NIPP set up by the NEC, said the panel found that as at 2007, total project allocations/ estimates to NIPP was $10.231 billion inclusive of the $2 billion Federal Government counterpart funding for Mambilla Hydro Power project and $1.4 billion for additional nine turbines.

out of these commitments, $3.08 billion was funded and scrutinised with advance payment guarantees from “first class” Nigerian banks and Letters of Credits issued by the Central Bank of Nigeria (CBN). $1.5 billion of the sum is still in the custody of the banks.

At no time did OBJ spend $16bn on power or the Nigerian government spend $16bn in the last 46years. it is outright falsehood.

http://saharareporters.com/2019/07/18/there-was-never-time-nigeria-spent-16bn-our-power-sector-during-obasanjo-era-or-last-46

See all the money wasted on power sector that never worked. They keep borrowing money only for them to share and compel the masses to bear the brunt. Now to pay minimum wage or settle SSANU/NASU is a herculean task for them but if it is to increase fuel price, they will gladly do that.

Na so.

From a 2009 House of Reps probe:


https://www.voanews.com/archive/nigerian-lawmakers-probe-16-billion-spending-power

Watch how tbe mods would close this thread and open it somewhere else because the lie would not be allowed to fly.

Nemesis909:
Na so.

From a 2009 House of Reps probe:


https://www.voanews.com/archive/nigerian-lawmakers-probe-16-billion-spending-power

That's their strategy. They wait for some years, and then try to distort the truth. But the internet never forgets.

So we should fry beans?

Whether they invested or not, what good has it done to the teeming population who doesn't know what an Electric bulb looks like?


Below 18?

Don't dare Click HERE!!!

We yaf hear

Lol baba o. OBJ and diplomatic lies ehn. The simple question that should be asked baba is how much did he spend on power in 8 years let him tell us if he actually ran a good government of accountability with proper documentations of activities and tasks.

Note: Click on my signature for this beautiful ride. Car will be gone this weekend be the lucky owner. MAke me a good offer. Check my profile as well. Tokunbo mint sparkling peugeot 407. Sport ride for the great people.

Zombies remains brainless idiots


The only way to have steady power supply is to vote out the PDP... Zombie king

It will take 6 months for a serious government to fix the power problems in Nigeria.... Zombie Terrorist

The reason Nigeria is not getting it right, is the neglect of the manufacturing sector. The over reliance on importing items to build our growth will not make it to work, outflow from the estimated N2 trillion spent on electricity is over 80%.
Instead of building the steel and iron industry to produce turbines and power transmission railings here in the country, we resort to importing.

100% of the iron bar that will be used in the construction of the Lagos-Ibadan railway project will be imported, does it mean we cannot have industry to produce them? What are the government doing to build the capacity of its citizens, yet he wanted them to be productive and stop going into crime?

NIGERIA IS OBVIOUSLY DUE FOR A REVOLUTION TO USHER IN A NEW IDEAS.

We should look beyond Buhari incompetency, OBJ letters, Afenifere Lamentation, Ohanaze crying and Arewa weeping all those old generation of leaders that made up this groups have failed us, they have no excuse.
All they are doing now is just eye service to salvage what at one point or the other they've contributed to destroyed.

Busy Body - XPloit

Nemesis909:
Na so.

From a 2009 House of Reps probe:


https://www.voanews.com/archive/nigerian-lawmakers-probe-16-billion-spending-power

Read what's written on the pic again.

I dont trust our politicians.They may have withdrawn the money for that purpose and divert it afterwards.

So wait, Buhari has spent more money on power than Jonathan with Higher oil prices?

Wow!

Even if they read, they won't digest because they already have a mindset of how PDP wasted $16b on power.
Buhari and APC are fraud

chloride6:
So wait, Buhari has spent more money on power than Jonathan with Higher oil prices?

Wow!

Buhari is the biggest thief


God punish buhari

Nigeria work no dae, jobs no dae, money no dae, companies are closing down, people are loosing jobs, insecurity higher than ever, light no dae, but of all these problems Buharis concern is how to travel to london, and Ruga... lol welcome to the nect level

$12billion, $16billion, $25billion, what does it matter?

Nigeria was generating close to 4GW of electricity in 1999. 20 years and $12 / $16 / $25 billion dollars later, our total power generation is still hovering around the very same 4GW. The bitter truth is that the black man is incapable of ruling himself. Bring back the Brits to rule us for just one tenure of 4 years and we would all be shocked at how useless the black man really is in leadership.

www.nairaland.com/attachments/8153747_7956673789276678919967877650photo1537634936549jpeg6f1dc6f97f7bbc2c9409820e8cd633e2jpeg148cbc52512fd88abae8a3a551b74cc4jpegd16e22692d0fac0763a14a5499c2727fjpeg58690a7c9b64495d76c035e0fd787eee_jpeg_jpeg80f2e9a15d066e8fbf530aa47c71f889

KidsNEXTdoor:
Zombies remains brainless idiots


The only way to have steady power supply is to vote out the PDP... Zombie king

This was the greatest insult to educated Nigerians

Billions + Billions + Billions = Zero Power in the country. All na SCAM

Nigeria has spent a total of $12.38 billion in the last 46 years. Between 1999 and 2019 Nigeria Spent N2 trillion and Buhari spent 45% of that fund

Where are all those people that said PDP and Jonathan destroyed Nigeria?
Buhari has used only 4 years and has already spent 45 percent of it.

kernniejay:
See all the money wasted on power sector that never worked. They keep borrowing money only for them to share and compel the masses to bear the brunt. Now to pay minimum wage or settle SSANU/NASU is a herculean task for them but if it is to increase fuel price, they will gladly do that.

Thanks. God bless you.

Which money? Less than 13b USD for how many years? For a country as big as Nigeria. Power is not akara business.

kernniejay:
See all the money wasted on power sector that never worked. They keep borrowing money only for them to share and compel the masses to bear the brunt. Now to pay minimum wage or settle SSANU/NASU is a herculean task for them but if it is to increase fuel price, they will gladly do that.

But obj(thief) made the budget...

Therefore Buhari has spent more than what Obasanjo spent on electricity but he is generating less!

Just imagine?

And again I ask,

Is there no place in this world someone can lodge an official complaint concerning one's nationality?

Buckubuck:

Nigeria has spent a total of $12.38 billion in the last 46 years. Between 1999 and 2019 Nigeria Spent N2 trillion and Buhari spent 45% of that fund.

The chronological timeline is shared below

1973-1998: The Nigerian government spent $1.83bn on installing 5.715GW Hydro and Gas power plants.

Please note the Nigerian Naira was stronger than the USD from 1973 till 1985 and it started tumbling from 1986 onwards.

1999-2019: Our federal lords spent a paltry N2 trillion and they expect Magic to happen.

The cash we have spent in the last 46 years in the power Sector is not up to the Annual revenue generated From the South African Electricity Sector.

N955bn+ which was released to the power ministry within the year captured exclusive of MYTO subsidies as follows:

*1999 – N11.206 billion appropriated, N6.698billion released;

*2000 – N59.064billion appropriated, N49,785 billion released;

*2001 – N103. 397 billion appropriated, N70.927 billion released;

*2002 – N54.647billion appropriated, N41.196 billion released;

*2003 – N55.583billion appropriated, N5.207billion released;

*2004 – N54.647billion appropriated, N54. 647billion released;

*2005 – N90.283 billion appropriated, N71.889 billion released;

*2006 – N74.308 billion appropriated, N74. 3 billion released;

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

*2007 – N100 billion appropriated, N99.8 billion released;

*2008 – N156 billion appropriated, N112 billion released;

*2009 – N89. 5 billion appropriated, N87billion released;

*2010 – N172 billion appropriated, N70 billion released;

Total N368.8 billion ($2.63 billion) Yardua Regime and a Grand total inclusive of MYTO subsidies N442.4 billion ($3.28 billion)


*2011 – N125 billion appropriated, N61 billion released;

*2012 – N197. 9 billion appropriated, N53. 5billion released;

*2013- N146 billion appropriated, N49 billion released;

*2014 – N69.8 billion appropriated, N48 billion released; and,

Total N211.5 billion ($1.36 billion) GEJ Regime and a Grand total of N293 billion inclusive of MYTO subsidies $1.89 billion


*2015 – N5. 240billion appropriated, no record but we can say it is not 100% funded.

*2015 -2019 N900 billion was released according to Vice President Osinbajo and another 600 billion is in the pipeline

N155b released as subsidy fund for MYTO Multi Year Tariff Order (MYTO) ($1.05 billion)

The funds were given for a period of five years. A breakdown of the interventions funds are as follows:

*2009 – N30.8 billion

*2010 -N43.2 billion

*2011 – N37.0 billion

*2012 – N11.5 billion

*2013 – N32.6 billion.

$8.23bn was released to NIPP from ECA to push our installed generating capacity with 5GW and OBJ regime released $3.08bn while the balance was spent between 2007-2015

Federal Government made $2.238 billion about N358 billion from the sale of 15 Power Holding Company of Nigeria, PHCN

Our Spending according to CBN and other verifiable sources like Budget office

(1)Obasanjo Regime -N374.65 bn $2.88 bn)

(2)Yar'adua RegimeN442.4bn ($3.28bn)

(3)GEJ Regime - N293 bn $1.89 billion

From 1999 - 2015 Nigerian Government invested N1.109 trillion inclusive of MYTO subsidies

(4)Buhari Regime - N900bn $2.95 billion

This is a grand total of N2 trillion in the last 20 years and in Dollar Value is $11 billion in twenty years

From 1973 till date Nigerian Government has spent a total of $12.83 billion and when the sold PHCN the made $2.238 billion.

The Presidential Review Panel on the NIPP set up by the NEC, said the panel found that as at 2007, total project allocations/ estimates to NIPP was $10.231 billion inclusive of the $2 billion Federal Government counterpart funding for Mambilla Hydro Power project and $1.4 billion for additional nine turbines.

out of these commitments, $3.08 billion was funded and scrutinised with advance payment guarantees from “first class” Nigerian banks and Letters of Credits issued by the Central Bank of Nigeria (CBN). $1.5 billion of the sum is still in the custody of the banks.

At no time did OBJ spend $16bn on power or the Nigerian government spend $16bn in the last 46years. it is outright falsehood.

http://saharareporters.com/2019/07/18/there-was-never-time-nigeria-spent-16bn-our-power-sector-during-obasanjo-era-or-last-46

apc and pmb e-rats will still doubt this