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FG Seeks Private Funding To Close $2.5 Billion Electricity Gap - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Seeks Private Funding To Close $2.5 Billion Electricity Gap (12936 Views)

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Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by 0taPiaPia(m): 7:37am On Oct 18
Seek Gini. Una no go bring out those looted funds use give 24/7 light abi, @least to appease the youth. Ok. Una never serious angry
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by VeeVeeMyLuv(m): 7:41am On Oct 18
blackpanda:


This is how average youth brain works. Once they see figures it's how to share the money and chop that comes to mind. But u de dia de protest, smh
I meant if 200, 000,000 donate 5k each that will be equivalent to 2.5 billion dollars. The govt make it seems nothing good can be done to fix the problems.

Are u not tired of how the evil govt is running the country?

What if every Nigerian forget about these greedy evil persons and provide everything they need including security will that not be better option.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by proclinician: 7:57am On Oct 18
PhiliptheArab:
The only way you can get more private investment on power is simple

Allow the discos and gencos control the prices of power.

Yes,we will pay 70naira per kWh,but the big rule of investment is putting in more money to make more money

And no one is going to invest in a sector where the sales price is less than the production price

It costs 53 naira to produce one kWh in Nigeria and we sell it at 28 naira per kWh. At the end of the day, no investor is going to invest in a loss making venture

Unless government wants dash

Why do you think you pay tax? One reason pls

1 Like 1 Share

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by kayjay69(m): 7:59am On Oct 18
Insofar as the gap channels into the stomachs and pockets of these prostitute politicians, if you like raise $25trillion, the gap will never be closed.

1 Like

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Awhy4u(m): 8:06am On Oct 18
Ogbeni, go to hell.

Cut the salary of our so called politicians.

I'm sure this would help you raise the so called fund.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by yahmohy27: 8:17am On Oct 18
ayenale1:
They want to fund north again
Are your representatives deaf and dumb?
Can't they talk if actually your claim is real?Or probably they would also collect their share,right?
Mtsww,some people will just be saying rubbish on faceless media
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Alba3: 8:20am On Oct 18
Give up on this country working except we restructure
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Horus(m): 8:23am On Oct 18
Produce your own electricity with solar panels
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by FLYFIRE(m): 8:24am On Oct 18
ShobayoEmma:
Sorosoke jor.
Buhari, a good man with bad intentions. #endpolicebrutality#
Restructure now.
Buhari, a lying BAD man with WORST intentions angry angry
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by PhiliptheArab: 8:37am On Oct 18
proclinician:


Why do you think you pay tax? One reason pls

Didn't mention paying tax.

The problem with power in Nigeria is simple. We produce power at 53 naira per kWh , and sell at 28 naira per kWh.

No profit is made. Government pays a subsidy which covers the difference between cost of production and sales price.

As a result no profit, thus no investment. Who wants to invest in something that loses money at the end of the day.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Oyiboman69: 8:43am On Oct 18
Mathscum:
They known the next protest is electricity. They better fix it up. Before it turns to another protest.
That one will be the biggest of all
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by proclinician: 8:44am On Oct 18
PhiliptheArab:


Didn't mention paying tax.

The problem with power in Nigeria is simple. We produce power at 53 naira per kWh , and sell at 28 naira per kWh.

No profit is made. Government pays a subsidy which covers the difference between cost of production and sales price.

As a result no profit, thus no investment. Who wants to invest in something that loses money at the end of the day.

With tax payers money. This is simple economics.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by PhiliptheArab: 8:52am On Oct 18
proclinician:


With tax payers money. This is simple economics.

Yes, but at the end of the day, profits aren't made

Here is how the subsidy in power works roughly. I buy coke at N150 a bottle and plan to sell at 200 a bottle making a profit of 50 naora

Government steps in, tells me to sell at N90 a.bottle, pays me a.subsidy of 40 naira, so at the end of the day I lose 20naira per bottle sold

How do I expand my business, pay the supplier,pay for generator fuel, pay transport costs

Government pays a subsidy in power. And not all of it comes from taxes, part of it comes from loans and grants.

And even then discos and gencos still lose 1 trillion annually because the subsidy does not cover their business cost and allow them to make a profit

So which investor would come in and invest? Unless he wants to come and do Baba Christmas and dash us the money?

It is because we want free power that we tolerate this. If government ran our businesses the way it runs the power sector, most of us would be broke.

Like me and my hypothetical coca cola beverages business

2 Likes

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by edoairways: 9:00am On Oct 18
Homeboiy:
Something that Atiku would have given family and friends
And has Buhari improve the system?
Are the populace enjoying at least 18hrs power supply except for few?
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by IjebuWarrior: 9:04am On Oct 18
tunapawizzy:
same old story...seeking funds to build electricity, but we dont have to seek funds to pay lawmaker's bloated salaries and allowances.....see ehn...the revolution coming you people's way, you will not know what came over you, EndSARS na small....una go hear am.bunch of armed robbers.....no difference between SARS and Legislators.

Baba, you be genius, I swear. Baba, you too smart! cool

1 Like

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Germi9: 9:43am On Oct 18
Homeboiy:
Something that Atiku would have given family and friends
2seconds
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by MrzeroEmotions: 9:53am On Oct 18
PhiliptheArab:
The only way you can get more private investment on power is simple

Allow the discos and gencos control the prices of power.

Yes,we will pay 70naira per kWh,but the big rule of investment is putting in more money to make more money

And no one is going to invest in a sector where the sales price is less than the production price

It costs 53 naira to produce one kWh in Nigeria and we sell it at 28 naira per kWh. At the end of the day, no investor is going to invest in a loss making venture

Unless government wants dash
kikero, I know you're the one.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by PhiliptheArab: 9:53am On Oct 18
MrzeroEmotions:
kikero, I know you're the one.

K.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by MrzeroEmotions: 9:58am On Oct 18
PhiliptheArab:


K.
but did we ever ask the govt to subsidize power? Education? We've been so accustomed to paying less than the actual cost of electricity and education. Remove subsidy. Yes, we have a lightbill of 10+k,but we'll survive. In my secondary school,science dept, no practical nor equipments. As a science student,I've never used a microscope before. Were seriously lagging behind.

2 Likes

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by PhiliptheArab: 10:06am On Oct 18
MrzeroEmotions:
but did we ever ask the govt to subsidize power? Education? We've been so accustomed to paying less than the actual cost of electricity and education. Remove subsidy. Yes, we have a lightbill of 10+k,but we'll survive. In my secondary school,science dept, no practical nor equipments. As a science student,I've never used a microscope before. Were seriously lagging behind.

Exactly

But Nigerians love cheap things, and it is politically expensive to do what you suggest

Even if it benefits our economy long-term

2 Likes

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by WrittyWritter(f): 10:10am On Oct 18
cut ur salary and allowance naa..stupid people...make bubu just resign with an apology latter..we can't stay like did till 2023
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by chaloskyx: 11:18am On Oct 18
PLEASE JUST HALT ALL THIS YOU BORROWING WE ARE TIRED IT WONT GET ANYTHING FIXED ALL YOU DO IS LOOT THE WHOLE FUNDS THE NEXT GOVT COMES IN AND DOES THE SAME LET US ALL BE USING GENERATOR NO MORE BORROWING TILL OUR YOUTHS TAKE OVER
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Tundex911: 11:44am On Oct 18
Ni-ge-ria...

grin grin
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by ihec(m): 11:48am On Oct 18
Make ask OBJ for the $16B
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Iolo(m): 11:53am On Oct 18
If only Power was on the concurrent list, states will be able to address these issues / put the right policies in place to attract investment to those areas without power. This FG agency won't need to exist...decentralisation is the way to go here.
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by DEADALIVE: 11:56am On Oct 18
Useless government
Useless old folks
Power to the youth...
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by ZIINI: 12:35pm On Oct 18
0taPiaPia:
Seek Gini. Una no go bring out those looted funds use give 24/7 light abi, @least to appease the youth. Ok. Una never serious angry
Firstly wankanda moniker is this angry
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Kissiemu(m): 12:43pm On Oct 18
Nna men!

Is it ignorance or what? Young people can't read a report and understand it.

From what I read up there...

*A seminar was organized by Rural Electrification Authority ( REA) in the House of Representatives

*The Speaker was represented. The Minister was represented.

*The head of REA said that there are 80 million Nigerians without electricity. 80 million not in the national grid nor have any form of energy (wind,hydro, solar etc)

* The seminar was of the view that the only way to bridge this gap is if the private sector comes in n invest in bringing electricity to these 80 million Nigerians.

I smoke weed but my head dey clear for comprehension in those days for Ajangbadi High School, Afromedia

#ENDSARS

...We move

1 Like

Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by 0taPiaPia(m): 12:57pm On Oct 18
ZIINI:

Firstly wankanda moniker is this angry

I take no prisoners grin cool
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by Simply6: 6:06pm On Oct 18
Nonsense!
Reduce house of rep salaries and Chanel the money into something more useful and beneficial!
Re: FG Seeks Private Funding To Close $2.5 Billion Electricity Gap by obehi247(m): 6:20pm On Oct 18
What about the money owe to Nigeria from the electricity supplied to Niger republic, Benin republic and Togo....


Omo we got to intensify this protect oh...

Time to close all power distribution company...

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