BotherMleeper:



What are you talking about?

Government sets the tariff, and the tariff is not cost reflective, hence the recent increment.

Can you imagine being in a business where your selling price is set by the government even when the price does not reflect the true cost of the commodity?

The capital and operational expenditure ceilings are also set by government.

Government does not invest anything in relation to its 40% stake in the business

In fact, the idea that the industry is privatized is a scam because it's more regulated than any other industry in Nigeria.

There's no disco that's breaking even, talk more of making profit.

You think I don't know thieving DISCOS reject 70 percent of the electricity wheeled their way and deliberately stall the mass installation of meters just so they can continue selling darkness and making unaccountable money and declaring only the little the accept from Gencos .... If they have nothing to hide then why are they panicking about small audit ....you and I know they are bluffing about leaving , they can never leave the business of selling one KWH of darkness for 59 naira . I am very gifted in seeing through ruse

These bastards are pulling out because of compulsory/mass metering.

Thieves

BotherMleeper:



What are you talking about?

Government sets the tariff, and the tariff is not cost reflective, hence the recent increment.

Can you imagine being in a business where your selling price is set by the government even when the price does not reflect the true cost of the commodity?

The capital and operational expenditure ceilings are also set by government.

Government does not invest anything in relation to its 40% stake in the business

In fact, the idea that the industry is privatized is a scam because it's more regulated than any other industry in Nigeria.

There's no disco that's breaking even, talk more of making profit.

No one forced them to buy it, if not greed, when the likes of Eskom, ABB, Siemens did not show interest they should have suspected foul play? FG should have sold the power infrastructure for 100 Naira & let the real investors take charge, not quacks like Bedc (Funke Osibudu) & Co. that went and took loans at high interest to acquire toxic assets.

GamalNasser:


You think I don't know thieving DISCOS reject 70 percent of the electricity wheeled their way and deliberately stall the mass installation of meters just so they can continue selling darkness and making unaccountable money and declaring only the little the accept from Gencos .... If they have nothing to hide then why are they panicking about small audit ....you and I know they are bluffing about leaving , they can never leave the business of selling one KWH of darkness for 59 naira . I am very gifted in seeing through ruse

You are very gifted in seeing through ruse? Are you a High Court of Justice Judge?

Government should take over the Electricity Nepa is better than what we are witnessing from this sheep's in goat clothing .No light yet you will pay Electricity bill that's why you will spend your last card to get prepaid meter , it's only in Nigeria that you will travel different states to get prepaid meter Las Las they will direct you to Abuja after they have got enough money and frustrated your life because of prepaid is this not fraud . they will sit in their offices and estimate high bills yet knowing fully well that they aren't giving Electricity. Please Egypt is better than Pakistan Enough of their wickedness.

fjjc:
What about IBDC and others like them that are making things difficult for Nigerians. Let government take control of this power supply nonsense. The agreement was done to enrich some people such as former head of state during the former president regime so as to satisfy them in order to retain power at all cost. Not only disco should be audited but the marketers of IBDC that are cashing out from citizens in this country. Supply prepaid meters for citizens so that people will be charged for what they are using. But IBDC marketers enjoying stealing from the system via estimated billing.

IBDC and all others are together called discos

Those crooks running the DisCos are a bunch of beasts who deserve to be boiled alive.

favor914:
No one forced them to buy it, if not greed, when the likes of Eskom, ABB, Siemens did not show interest they should have suspected foul play? FG should have sold the power infrastructure for 100 Naira & let the real investors take charge, not quacks like Bedc (Funke Osibudu) & Co. that went and took loans at high interest to acquire toxic assets.

That's faulty reasoning.

Every investment is a risk, but the problem here is government is not really supporting the sector, yet they want the investors to perform miracles in 7 years the government itself could not perform in more than 40.

BotherMleeper:


That's faulty reasoning.

Every investment is a risk, but the problem here is government is not really supporting the sector, yet they want the investors to perform miracles in 7 years the government itself perform in more than 40.

A bad tree can never yield good fruits, all these so called Electricity & Distribution Companies used Nigeria as their testing ground, no prior experience anywhere in Nigeria, let alone the world? I remember Lagos State had a deal with Enron over some electricity project that went bust in the early 2000, before Enron itself went bankrupt? The people that pdp & Jonathan sold the commonwealth to are quacks, with no funds, or expertise to do anything, even Togo Electricity Company, or Ghana Electricity would have done a better job a 100x over. Like I said no one forced them to buy the assets if not greed.

GamalNasser:
Thieving DISCOS sabotaging Nigeria electricity since forever ...They don't want to be audited because their lies of running at a loss will be exposed ..

Discos are devil incarnate.

BotherMleeper:


That's faulty reasoning.

Every investment is a risk, but the problem here is government is not really supporting the sector, yet they want the investors to perform miracles in 7 years the government itself could not perform in more than 40.

months after Nigeria sold her electricity assets Mexico did something similar, the caliber of interested parties was quite different.
Two years ago, the Mexican government passed a law that required the deregulation of the energy industry, a process that officially started at the beginning of this year. The reform forces the electricity market within the country to open up energy generation and distribution to competition. This will allow more developers to enter the market who can sell electricity to Electric Service Providers (ESPs) in addition to the Federal Electricity Commission.
In Mexico, the energy deregulation changes (and more) will ultimately allow private investment in areas including, refining, transport, exploration, extraction, storage and distribution and help to better commercialize electricity.

https://www.google.com/amp/s/www.electricchoice.com/blog/energy-reform-mexico/amp/

The Disco house of commotion have no idea about the business, just ripping us off. Let them pull out let's know we don't have any hope than to always hope in vain.
I support govt on this one

Thieving discos many saw discoship as an opportunity to loot money from govt and customers.

They did not improve the value chain, no investment in critical infrastructure always claiming consumers and govt.

They shud be audited ASAP.

quentin06:
Thieving discos many saw discoship as an opportunity to loot money from govt and customers.

They did not improve the value chain, no investment in critical infrastructure always claiming consumers and govt.

They shud be audited ASAP.

Jonathan & Pdp sold us out for personal fortune, no wonder they coined the phrase “ Stealing of public funds is not corruption, or selling Nigeria’s Commonwealth to cronies is not stealing”.

oz4real83:
All these na drama. Nobody that doesn't like a business where you have zero expenses but make a profit of over 100% every month. These power companies don t spend anything on improving power. In my area, we own our transformer, we bought our poles and wires, we paid the officials that connected us, we were responsible for all the expenses. The bedc only bring bills at the end of the month, that is the part they have always played, they don't even provide meters Who won't like such a business? It is an empty threat.

Kikero ,


I believe this topic should interest you,your post on the Naija electricity matter lack a certain amount of depth

Discos are worried over the recent plans to ring fence their accounts to enable a better remittance to Nbet and gencos and now are pulling this trick,

donguutti:


Kikero ,


I believe this topic should interest you,your post on the Naija electricity matter should a certain lack of debt.

Discos are worried over the recent plans to ring fence their accounts to enable a better remittance to Nbet and gencos and now are pulling this trick,

Because it would in essence handicap them seriously.

They would be forced to surrender most of their earnings to pay off their debts

In other words, their debt repayment just got raised so to speak.

favor914:
Jonathan & Pdp sold us out for personal fortune, no wonder they coined the phrase “ Stealing of public funds is not corruption, or selling Nigeria’s Commonwealth to cronies is not stealing”.

Argue constructively, I never mentioned PDP or APC we talking about how poorly the discos have faired since 2013.

Selling national assets to cronies predates Jonathan, get your facts don't argue blindly.

I work as a plant operator in a power generation company. Would u believe that NCC will tell the power generation company that they are receiving too much megawatt? And they'll be complaining that we are not generating enough power

kikero:


Because it would in essence handicap them seriously.

They would be forced to surrender most of their earnings to pay off their debts

In other words, their debt repayment just got raised so to speak.

Not their earnings, remittance for gencos, reading through the pwc report you refered to discos bill collection rate of 65% percent but rmit only 28% due to Nbet and gencos

Going by the myto formula only about 40-45 percent of tariff goes to distribution, the rest is for gencos, tcn, nbet

Thus by gouging on money due to others, they create imbalance in the market. Do you know why ikeja disco and egbin power are ranked highest in disco and Genco.

Apologies for the errors in the previous posts

Before dis so called discos came on board we were enjoying steady light.
They should leave cos they are greedy.

donguutti:


Not their earnings, remittance for gencos, reading through the pwc report you refered to discos bill collection rate of 65% percent but rmit only 28% due to Nbet and gencos

Going by the myto formula only about 40-45 percent of tariff goes to distribution, the rest is for gencos, tcn, nbet

Thus by gouging on money due to others, they create imbalance in the market. Do you know why ikeja disco and egbin power are ranked highest in disco and Genco.

Apologies for the errors in the previous posts

And all that happens because discos were forced to charge below the production cost of power in the first place

Or they were charging tarrifs that weren't cost reflective

Once that happens, then add the fact that many people don't even pay the bills, illicit practices happen like you said

Good news if they go. I was following the privatization process about 6 yrs ago. But the moment I saw Nigerian interests coming forward, I knew it would head for the rocks. I stopped following it.
These discos haven't got the technical capacity like Siemens and General Electric and others to run power companies. Are they stupid? Didn't they evaluate the scraps they bought as transmission lines and other obsolete facilities? But they knew Nigerians would pay for their stupidity, that's why they went ahead.
If government owes 40 percent stakes in the discos, doesn't the government have a say in how they're being run? And why are they afraid of forensic auditing?
I pray and hope they pull out so that real investors who would invest in the sector and provide the technical capacity to bridge the gap in the power infrastructure would come in.

gonkin:
I work as a plant operator in a power generation company. Would u believe that NCC will tell the power generation company that they are receiving too much megawatt? And they'll be complaining that we are not generating enough power

Many don't know that the problem is distribution and not generation

They should please return the DISCOs back to the Government.

ijustdey:



https://www.vanguardngr.com/2020/09/electricity-uncertainty-as-discos-bid-to-pull-out/

As if they were doing anything before. Nonsense

Please who understand what deji adeyanju spoke about??

Estimated billings and whatever has to do with disco has been a fraud from the onset.

nairavsdollars:
You increased tariff by 150 percent yet the light went from bad to worse

Only in two days that tariff increased have you concluded that light went from bad to worse. I fear your imagination o

kokomilala:
Good news if they go. I was following the privatization process about 6 yrs ago. But the moment I saw Nigerian interests coming forward, I knew it would head for the rocks. I stopped following it.
These discos haven't got the technical capacity like Siemens and General Electric and others to run power companies. Are they stupid? Didn't they evaluate the scraps they bought as transmission lines and other obsolete facilities? But they knew Nigerians would pay for their stupidity, that's why they went ahead.
If government owes 40 percent stakes in the discos, doesn't the government have a say in how they're being run? And why are they afraid of forensic auditing?
I pray and hope they pull out so that real investors who would invest in the sector and provide the technical capacity to bridge the gap in the power infrastructure would come in.

No real investor will invest properly in power when the cost is not reflective. No magic can cause that. Same way there can't be any investment in refining.

I really wonder how many people doing business here give away their products below cost price, but you want others to do the same.

When we do things right, we get the right results. Government in nigeria is the most incompetent organisation in nigeria. Totally clueless about the implications of what they are signing as we have seen with P&ID, Azura Power, and many others .

Soon after Siemens does the work, they will now start saying they didn't know the agreement said we will pay them for next 10years. Then Siemens will go to court, win the case then you people will say Siemens and German government want to enslave nigeria.

favor914:
No one forced them to buy it, if not greed, when the likes of Eskom, ABB, Siemens did not show interest they should have suspected foul play? FG should have sold the power infrastructure for 100 Naira & let the real investors take charge, not quacks like Bedc (Funke Osibudu) & Co. that went and took loans at high interest to acquire toxic assets.

Not sure any of those you mentioned would come to invest in Nigeria considering how corrupt we are, how we fail to honour agreements, how our currency depreciates daily, how we vilify those repatriating their hard earned dividend back home.

Funny enough, if they had actually come and the situation remained the same, the same Nigerians would have been saying they should go and let the FG give local investors.

We Nigerians have no clue what we really want. We just always want the opposite of what is on ground. Meanwhile the common factor when things don't work in Nigeria is always our INCOMPETENT GOVERNMENT!!