Very one sided article. This is a clear case of either shoddy journalism or, the politicians playing their political abracadabra again. Why is it that the article did not highlight the reason/s why government have to back the loan?

Nigeria power industry relies on 80-85% gas power generation. Without gas, there will be no power generation, transmission and distribution in Nigeria. Because of the objective of generating incremental power supply, attention has to be shifted to natural gas production.

Developing natural gas facilities is not cheap. Majority, if not all of the midstream companies in Nigeria cannot fund these developmental projects independently. Without government backing and interference, these projects will not move forward. And Nigeria will not get incremental power generation. Reason why government have to step in, to sign the take or pay contract with the producer, to increase natural gas supply available for in-country power generation.

My question to the government is, where do we stand on the issue of incremental power production? Is the gas production and off take agreement relevant to achieving this objective? If the government is contemplating on canceling the contract, what's the alternative? How do we achieve 7500 - 10000 MW consistently as projected in their plans?

courage89:
Very one sided article. This is a clear case of either shoddy journalism or, the politicians playing their political abracadabra again. Why is it that the article did not highlight the reason/s why government have to back the loan?

Nigeria power industry relies on 80-85% gas power generation. Without gas, there will be no power generation, transmission and distribution in Nigeria. Because of the objective of generating incremental power supply, attention has to be shifted to natural gas production.

Developing natural gas facilities is not cheap. Majority, if not all of the midstream companies in Nigeria cannot fund these developmental projects independently. Without government backing and interference, these projects will not move forward. And Nigeria will not get incremental power generation. Reason why government have to step in, to sign the take or pay contract with the producer, to increase natural gas supply available for in-country power generation.

My question to the government is, where do we stand on the issue of incremental power production? Is the gas production and off take agreement relevant to achieving this objective? If the government is contemplating on canceling the contract, what's the alternative? How do we achieve 7500 - 10000 MW consistently as projected in their plans?

Well said.

So start with, the FG is trying to do the right thing, but they are still half stepping and disingenuous in so many ways for so many reasons starting from protecting Nigerians by hiding the sad realities that for the generation, the distribution and transmission enties to operate successfully and financially solvent, they must inflict necessary pains on Nigerians in form of increased and well justified tariffs , something the average Nigerian is yet to come to terms with and definitely won't stomach and understand.

Back to the clueless and deceptive lawmakers, in one breath they want to terminate or restructure one agreement because of huge financial burden while at the same time advocating that we should keep loaning out funds to and meet subsidizing obsolete, unproductive DISCO and GENCO that we've already spent N1.2 trillion on even though they admitted that the privatization agreement that created them was flawed and corrupt.

Messing with that agreement means we should forget about foreign investors investing in our power sector, the crooked lawmakers are only looking out for their GENCO and DISCO cronies.

The problem as usual is greed on the part of the GENCOs, DISCOs and the corrupt politician friends because the Azura payments in question comes from the FG power subsidy account, they set up the fund to pay the GENCOs and the DISCOs, but the've been paying Azura out of that fund, meaning they are sharing the money with Azura which they are against, they want every kobo, they basically don 't want to share that money with Azura, they want the FG to separately fund the monthly Azura payment elsewhere so they hired the corrupt lawmakers to do their bidding by deceptively attacking Azura in favor of the GENCO and DISCO cronies by asking the FG to keep subsidizing and loaning money to the DISCO and the GENCO.

The lawmakers are part of the scam.

Sunofgod:
Nigerian Govt Officials & Politicians Awaiting Probe..........

Bloody thieves!

All of them!

[img]https://media./images/78a61344f00a4344a002150a6961696c/tenor.gif[/img]

Who go probe them nah, shebi nah all of them follow be thieves

People wey third money nah same people wey wan judge case, wetin go be outcome

Racoon:

This must be incredible if true.Meanwhile, the P & ID case is still hanging on this nation.

The Presidential Power Reform Transaction, which was headed by Osibanjo when the deal was struck obligated Nigeria to pay between $30 million and $33 million monthly to Azura for power for powers generated, even if not “dispatched.”

Nigeria has been mortgage by these criminals

2mannoAmanno:
What A Shame...
I Used To Think About Nigeria becoming A SELF Sufficient State Where Electricity Is stable (Whenever I Try To Day Dream About The Future nigeria I Wanna see)
how It'll Be Worth It to Finally See That We Are Now Improving..

Now Look What y'all did.
Making A Stupid Deal Out Of Greed just To Suit Some 'Mofos
UpNEPA

I use to do more than dream, I usually compare Nigeria industrial capability with countries of similar size and capabilities such as Iran, Indonesia, Turkey, Vietnam and Mexico.

Nigeria industrial capacity numbers are just shameful, a country of 200 million with less than 60GW has no hope of diversifying it's economy or developing.

The Best 2 from the West still make such mistake. Or they just Smokescreen?

I just don't know the kind of junks journalism in this country. Just imagine this headline.

For Nigeria newspapers, the only way to sell their papers is to ensure Osinbajo's name is on their headline

PLEASE WE URGE YOU AND MR. PRESIDENT TO RELEASE Osinbajo, FASHOLA, ZULUM, ELRUFAI, UNGIGE AND AMAECHI FOR A 3 MONTHS ORIENTATION MILITARY TRAINING AT SANDHURST ACADEMY IN ENGLAND. LET THE SIX GO TOGETHER AND COME BACK TOGETHER.

This country is finished.
So Nigeria have all this kind of money, yet they cant pay unemployed graduates 5 or 10 thousand naira monthly?

I weep for this country.

Starboy Osinbajo and Starbaby Fashola are both Senior Advocates of Nigeria. I can't see them signing such a crazy contract. If however they do, then they should be publicly executed at Bar Beach in Lagos.

Equation89:
This country is finished.
So Nigeria have all this kind of money, yet they cant pay unemployed graduates 5 or 10 thousand naira monthly?

I weep for this country.

Go and find work. No food for lazy man.

NGpatriot:










You are not intelligent enough to know that they did not give you any evidence or facts regarding their true agenda and the nature of the deal.


You are also not Intelligent enough to know that the deal and agreement was actually signed by Jona and okonjo back in 2013.

Was Fashola and Osinbajo part of Jona administration in 2013?

Look in the mirror before needlessly attacking other people for lack of intelligence.

LOL, I talk am. I am talking about the claim made in regards to deal that was spearheaded by osinbajo and his team particularly buhari's administration (2016) not those jargons you are writing thinking you're intelligent.

RichBoy247:


Go and find work. No food for lazy man.

My dear, come let me employ you if you need one.

NGpatriot:










You are not intelligent enough to know that they did not give you any evidence or facts regarding their true agenda and the nature of the deal.


You are also not Intelligent enough to know that the deal and agreement was actually signed by Jona and okonjo back in 2013.

Was Fashola and Osinbajo part of Jona administration in 2013?

Look in the mirror before needlessly attacking other people for lack of intelligence.

Vice President Yemi Osibanjo, Babatunde Fashola and others who were part of the team are believed to have erroneously signed an agreement that was not in favour of Nigeria.
This is where the claim comes, read very well before you support theif called politicians.

Buksaylor:


Are you suggesting revolution?

Obviously its long overdue but we still ain't ready yet

Aksnoopy:
So Osibanjo was actually a thief indeed. A self-acclaimed pastor conniving with politicians to steal billions from the masses.

I don't think you read the post...because your, comment is at variance with the post..

Use your head to think before you type and not your finger to think....idiot

Aksnoopy:
So Osibanjo was actually a thief indeed. A self-acclaimed pastor conniving with politicians to steal billions from the masses.

You cannot draw such hasty conclusion from the article as there was no evidence or suggestion to that effect.
All that one can deduce is that the agreement did not favour Nigeria because it guaranteed purchase/payment of whatever power generated by the GENCOs whether uploaded/utilised or not.
It is akin to someone agreeing to buy up the entire production of a manufacturing company based on projected confidence in his existing wholesale and retail outlets - without considering the possibility of future capacity failure in these outlets (as in the case with the TCN & DISCOs).

This is where Fashola & the VP were faulted while the fundamental blame was rightly being directed at the fraudulent privatisation to incompetent investors without the necessary resources to their sector networks effectively (done under the Jonathan administration).

As far as I can see; this would not have been a problem had the transmission and distribution companies (i.e. wholesale & retail outlets) not been sold off to incompetent hands (by the last administration) because even now the GENCOs do not have the generating capacity to meet up with projected consumer demand.

Buksaylor:


Are you suggesting revolution?

Aren't u tired??

Targets as usual!
Everyone just firing shots.

Since Mr. President inaugurated the presidential power reform, the vice president Osinbajo who chairs the Committee has not signed any deal and it is worthy of note that the only deal that was signed is the Siemens which was signed by the President, Muhammadu Buahri. Let's be guided and get our fact straight

Osinbajo was never concerned with power as at 2016 and only chairs the presidential power reforms which was setup March 2020.

Mind you , Vice President hasn't signed anything since and the only thing that was signed is the Siemens deal and it was done by the President so stop brocasting what you don't know

This is a blatant lie Osinbajo has not signed any power deal at all. The shoddy report appears to be referring to 2016, when Fashola was Power Minister and Osinbajo had absolutely NOTHING to do with power.

What do you people at The Sun stand to gain for publishing an outright false report. The Presidential Power Reform Transaction under Buhari administration was set up in March 2020, so how could Osinbajo have signed a power reform in 2016? This gutter journalism is too much. I pity people who believe these lies.

Having just become the head of the presidential power sector reform committee in 2020, it takes little imagination to realise that the entire story is a fabrication, as there's no way to link the vice president all the way back to 2016 as claimed. This is just another week another phishing story against Prof Osinbajo.

For how long will this country fold hands and be watching fake and baseless news to destabilize our democracy. Osinbajo has never signed anything since his appointment as power Reforms chairman .

How can you open the your smelly mouth to call Osinbajo a thief, you and so call boss is a thief.

Osinbsjo is an intelligent and dignity man

Aksnoopy:
So
Osibanjo was actually a thief indeed. A self-acclaimed pastor conniving with politicians to steal billions from the masses.

It wasn't "erroneously signed". If you check well, e get where part of the monthly fine suppose go

Sunofgod:
Nigerian Govt Officials & Politicians Awaiting Probe..........

Bloody thieves!

All of them!

[img]https://media./images/78a61344f00a4344a002150a6961696c/tenor.gif[/img]