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Power Producers Sell ₦294.16 Billion Electricity In Five Months - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Power Producers Sell ₦294.16 Billion Electricity In Five Months (8694 Views)

FG Halts N600 Billion Electricity Subsidy, Confirms Power Tariff Hike / Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day / Nigeria To Disconnect Niger, Benin Over ₦2.60 Billion Electricity Debt (2) (3) (4)

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Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:15am On Sep 17, 2020
Electricity matter for this country too complex
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by karkinase(m): 7:18am On Sep 17, 2020
MAKABBEY:

Haha... 20k just like that? let be human for once. everyone has financial problem, even otedola that just acquired Ferraris has financial problem, just on another level. Pls let be contend with what will have and ask for grace.
I just dey observe the guy...20K just to dash, e never serious.

3 Likes

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Minjim: 7:18am On Sep 17, 2020
We have been in darkness for 2vweeks now because of a faulty transformer while streets around us are having power.
All these directives will just make Discos concentrate their resources on highbrow areas and neglect low income areas.


It the fault in our transformer had happened at Magodo, Lekki or V.I I'm sure they'll repair it that same day. But ours is taking weeks and still counting

1 Like

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:24am On Sep 17, 2020
maasoap:


Distribution was privatised alongside generation because Jonathan and his PDP believed that government didn't have business being business. My question is: why should government still be paying generation companies apart from what it consumes?


Because Jonathan and his PDP held on to the Transmission Company of Nigeria (TCN). And they put in place NBET as a middle man to avoid a total collapse of the sector, instead of raising prices to match market realities.

1 Like

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Minjim: 7:24am On Sep 17, 2020
maasoap:


Distribution was privatised alongside generation because Jonathan and his PDP believed that government didn't have business being business. My question is: why should the government still be paying generation companies apart from what it consumes?

Gej and his gangs of thieves got us here. And Buhari is also surrounded by lazy and corrupt people who lacked vision and creativity.

Basic service like electricity, fuel, water and education is the sole biz of a responsible govt.
In most developing economy govt is involved in those services. They can't afford to leave such critical aspect of their citizens lives solely in the hands of profit-making shrewd businessmen. Their people will suffer. Especially in a country like our where the masses lacked purchasing power
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by ikorodureporta: 7:25am On Sep 17, 2020
if one customer pays an average of N5k per month, 20,000,000 customers shld be paying N100,000,000,000 monthly
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:25am On Sep 17, 2020
KayCee92:
You now see why Uncle Otedola divested from Oil (Forte Oil) to power generation. These men have the Ability to see where the next big things are headed...
.

Wherever there is a problem, there is equally an opportunity to cash out big. Basic entrepreneurship

1 Like 1 Share

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by renheart(m): 7:26am On Sep 17, 2020
Yet the tariff is very high. 30.6unit use to be for 1000 before with tariff as 30.33 but now, it's 18units for #1000 and tariff has escalated to 51. 9ja na wa ooo...
I pray God deliver is from all these tirants and money looters
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by solmus: 7:29am On Sep 17, 2020
No wonder Gencos ain't supplying needed Electricity and selling it to other west Africa countries...


They supply you 100% you pay them for 20%
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:34am On Sep 17, 2020
Minjim:
We have been in darkness for 2vweeks now because of a faulty transformer while streets around us are having power.
All these directives will just make Discos concentrate their resources on highbrow areas and neglect low income areas.


It the fault in our transformer had happened at Magodo, Lekki or V.I I'm sure they'll repair it that same day. But ours is taking weeks and still counting

you are right, but that may just be the hard pill to swallow for the electricity sector to break even. People are not ready to pay more. We want cheap everything.

But it is established that quality service don't come cheap, there is a cost implication to quality. People that enjoy 24hrs power pay significantly more than what we are paying in Nigeria. Since govt is no longer ready to bear the shortfall, it is better to direct the cost to those who has the capacity.

I already observed this your insinuation with the breakdown of electricity allocation by EKEDC. Highbrow areas were put on the 20hours band, while some extreme places were put on the 4 and 8 hours band. smiley

1 Like

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by maasoap(m): 7:36am On Sep 17, 2020
agabusta:



Because Jonathan and his PDP held on to the Transmission Company of Nigeria (TCN). And they put in place NBET as a middle man to avoid a total collapse of the sector, instead of raising prices to match market realities.

For transmitting from the generation point to distribution point, I would say that you are to be paid for the service rendered. It shouldn't be the other way round.
About the tariff not matching the market, people are still buying transformers, electric poles and cables in new and old communities. Do DISCOS rightly deserve whatever they are charging as tariff right now (around 63 naira per unit)?

1 Like 1 Share

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Zane2point4(m): 7:37am On Sep 17, 2020
Minjim:
We have been in darkness for 2vweeks now because of a faulty transformer while streets around us are having power.
All these directives will just make Discos concentrate their resources on highbrow areas and neglect low income areas.


It the fault in our transformer had happened at Magodo, Lekki or V.I I'm sure they'll repair it that same day. But ours is taking weeks and still counting
Our transformer has bn bad for 3months now.
We contributed 3.5m and bought a new one,it got spoilt in no time ,since then we hvnt had light till now.
In Nigeria,you're on your own,they said privitaization,but we're buying there properties for them,just like buying a full mask for mtn.

I think nigeria doesn't want to employ capable ppl to handle her affairs,we're just going in circles.
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:40am On Sep 17, 2020
Minjim:


Gej and his gangs of thieves got us here. And Buhari is also surrounded by lazy and corrupt people who lacked vision and creativity.

Basic service like electricity, fuel, water and education is the sole biz of a responsible govt.
In most developing economy govt is involved in those services. They can afford to leave such critical aspect of their citizens lives solely in the hands of profit-making shrewd businessmen. Their people will suffer. Especially in a country like our where the masses lacked purchasing power

But we were doing that before, until we came to the hard realization that govt does not have the financial, technical and managerial capacity, which in another dimension was stifling the economy and holding us back.

Please, remove fuel and electricity from your list. The people must be ready to pay market price for them. Govt should direct its subsidy to other areas of the economy. Whoever needs electricity and fuel should pay market reflective prices for them.

2 Likes 2 Shares

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Nobody: 7:40am On Sep 17, 2020
post=94005592:


Even the youngest of the wailers confesses at last!



But dis ur off and on praise and otherwise dey look like when Nepa dey take light play off and on.
Don't be a confused admirer/fan o!
Siddon for one corner! wink

In other news.........

Give to Caesar what belongs to Caesar and to God what belongs to God.

That's what I'm doing, not an on and off praise.

Any dead vulture for the day?
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by LadySarah: 7:41am On Sep 17, 2020
3ooo something megawatts?
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by MANNABBQGRILLS: 7:43am On Sep 17, 2020
Awol1:

Give to Caesar what belongs to Caesar and to God what belongs to God.
That's what I'm doing, not an on and off praise.
Youngest wailer, now start clapping for yourself, but watch your back so your elder wailers won't come for you o!
24/7 wailing is their trademarks ™️.
Watch and Pray corper shun wink
Bye!

1 Like 2 Shares

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:45am On Sep 17, 2020
Zane2point4:

Our transformer has bn bad for 3months now.
We contributed 3.5m and bought a new one,it got spoilt in no time ,since then we hvnt had light till now.
In Nigeria,you're on your own,they said privitaization,but we're buying there properties for them,just like buying a full mask for mtn.

I think nigeria doesn't want to employ capable ppl to handle her affairs,we're just going in circles.

How many KVA transformer was bought for 3.5m? It must have been a low quality product or refurbished.

Please, confirm that the Nigerian factor of corruption has not entered your community association.

They probably went to buy one refurbished transformer with no warranty and kept back the remaining change in their pockets.
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:47am On Sep 17, 2020
solmus:
No wonder Gencos ain't supplying needed Electricity and selling it to other west Africa countries...


They supply you 100% you pay them for 20%

Its crazy right?
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by solmus: 7:49am On Sep 17, 2020
agabusta:


Its crazy right?

Very crazy .. they even admit it
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Zane2point4(m): 7:56am On Sep 17, 2020
agabusta:


How many KVA transformer was bought for 3.5m? It must have been a low quality product or refurbished.

Please, confirm that the Nigerian factor of corruption has not entered your community association.

They probably went to buy one refurbished transformer with no warranty and kept back the remaining change in their pockets.
They said its 300kva o,the old one is 200kva and will still had to swap it with the dealers.
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 7:58am On Sep 17, 2020
maasoap:


For transmitting from the generation point to distribution point, I would say that you are to be paid for the service rendered. It shouldn't be the other way round.

About the tariff not matching the market, people are still buying transformers, electric poles and cables in new and old communities.

Do DISCOS rightly deserve whatever they are charging as tariff right now (around 63 naira per unit)?

For the first point: Where should the money come from, when the DISCOS are having recovery of about 30% as well?

And mind you, the govt has actually been covering the gap before now. Just that the govt is now broke and the gaps are now getting alarming.

The current increase in tariff is not up to 63 naira. It's around 56 naira for the Band A (those to get 20hrs power/day). Even at that, factories, industries and religious organisations that generate their own power 24hours has told us that the cost is around 70naira per KWH.
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by agabusta: 8:00am On Sep 17, 2020
Zane2point4:

They said its 300kva o,the old one is 200kva and will still had to swap it with the dealers.

Its definitely not a new one. The last I checked before the current forex crisis, 100KVA was sold for 2million naira plus.
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Yampotatocarrot(m): 8:07am On Sep 17, 2020
maasoap:


Distribution was privatised alongside generation because Jonathan and his PDP believed that government didn't have business being business. My question is: why should government still be paying generation companies apart from what it consumes?

I think that's the mystery in Nigeria. If they are private, why is the government still paying them. I believe there is a clause in the agreement Jonathan signed that stated that.

Jonathan messed up with privatisation of the power sector. FACT

1 Like 2 Shares

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by winterfell007(m): 8:19am On Sep 17, 2020
Lakeshizu:
I think one of the major problems of Nigeria now is DISCO!!!
They've always been the weakest link. Every part of Nigeria connected to the grid should be having nothing less than 12hours of light per day if they don't reject power from the transmission company due to inadequate investments in their distribution networkz and prepaid meter installations
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by winterfell007(m): 8:26am On Sep 17, 2020
maasoap:


Distribution was privatised alongside generation because Jonathan and his PDP believed that government didn't have business being business. My question is: why should government still be paying generation companies apart from what it consumes?

Don't blame Jonathan. The privatization was completely honest and fair. It's you who don't understand the duties of NBET. NBET was set up as an agency to trade in bulk power purchase from various IPPs pending when the discos improve their distribution networks and begin to buy power independently for themselves.
Of recent Ikeja disco, Eko disco, Benin disco and Enugu disco have been independently contracting power from IPPs and feeding it to their premium customers
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by COMPAQ(m): 8:41am On Sep 17, 2020
TooNoisy:
This Government is extremely unserious. You were able to pay only 20% of the total amount Generated by Gencos and you are proud to say it. How do you want the generating companies to survive if they get only 20% of their revenues? How do you expect investors to come invest in the Power sector when they get paid only 20% of their forecasted revenue.

This government is shameless. They have no idea how to fix the power sector and they are not even pretending they do.

The way to fix it is what they have done, which most Nigerians don't want to hear, which is increase tarrif to plug the revenue gaps

1 Like

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Hakeem12(m): 8:45am On Sep 17, 2020
agabusta:



Because Jonathan and his PDP held on to the Transmission Company of Nigeria (TCN). And they put in place NBET as a middle man to avoid a total collapse of the sector, instead of raising prices to match market realities.
Coupled with the fact that some Nigerians don't pay their electricity bills even when the price had not been increased. Some houses in my area on prepaid meters even bypass electricity. Nigerians are hypocrites

3 Likes

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Hakeem12(m): 8:59am On Sep 17, 2020
COMPAQ:


The way to fix it is what they have done, which most Nigerians don't want to hear, which is increase tarrif to plug the revenue gaps
A lot of Nigerians refuse to understand this.
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Starzdavid247(m): 9:01am On Sep 17, 2020
Clothingonline9:
Affordable men clothing Lagos and Nationwide dispatch jeans chinos Turkey shirts etc half price payment on delivery
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Hakeem12(m): 9:08am On Sep 17, 2020
Minjim:


Gej and his gangs of thieves got us here. And Buhari is also surrounded by lazy and corrupt people who lacked vision and creativity.

Basic service like electricity, fuel, water and education is the sole biz of a responsible govt.
In most developing economy govt is involved in those services. They can afford to leave such critical aspect of their citizens lives solely in the hands of profit-making shrewd businessmen. Their people will suffer. Especially in a country like our where the masses lacked purchasing power
We cannot continue keeping the price of electricity below the cost price. This will just impede the operators from making the investments for improving power supply because the literally have no hope of a profit. The government bridging the gap is in effect a subsidy which also wastes revenue. The tariff increase is basically tgw government unable to do so anymore. When government don't even pay gencos in full, genocs would rather sell to other west African countries.

The government needs to back off of the pricing. Like obasanjo did with the telecom sector. We would be better for it in the long run. Obasanjo allowed them to set their own prices and investment flowed in. The telecom sector was developed by private investment and eventually due to investment and competition, costs came down. People wanted the govt. to set prices for the sector back then too. But we paid high prices and now we have a strong telecoms sector. Sim cards sold for as high as 15k back then go for #50 or even free these days.

2 Likes

Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by FarahAideed: 9:15am On Sep 17, 2020
This is at 70 percent rejection from thieving DISCOS
Re: Power Producers Sell ₦294.16 Billion Electricity In Five Months by Minjim: 9:22am On Sep 17, 2020
agabusta:


you are right, but that may just be the hard pill to swallow for the electricity sector to break even. People are not ready to pay more. We want cheap everything.

But it is established that quality service don't come cheap, there is a cost implication to quality. People that enjoy 24hrs power pay significantly more than what we are paying in Nigeria. Since govt is no longer ready to bear the shortfall, it is better to direct the cost to those who has the capacity.

I already observed this your insinuation with the breakdown of electricity allocation by EKEDC. Highbrow areas were put on the 20hours band, while some extreme places were put on the 4 and 8 hours band. smiley

If govt had directed it to those who have the capacity we won't be here. But they gave it to their friends and relations.
There are many foreign energy companies like Siemen that bided during Gej's period but were not given the contract

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