EcoNews:
When will you do the calculation for Alaigbo make we see how foolish you truly are.

EcoBrick:


https://thenationonlineng.net/50m-power-plant-in-lagosll-drive-economic-growth/

EcoNews:
When will you do the calculation for Alaigbo make we see how foolish you truly are.

FreeStuffsNG:
If you generate electricity and can't get the SW states consumer market, you are playing with debts that may make you fold up

The largest power generation plant is in Lagos, Egbin. This is a direct competition against them yet Egbin is just few kilometres away in Ikorodu. Those in wherever do not have chances niyen. Consumers want the cheapest, if you bring electricity from afar, it adds to the cost. Lagos, Ogun, Oyo are the biggest consumers.

It makes no business sense for the consumers in VI or Ikeja to pay for cost of shipping electricity from Ikorodu let alone faraway wherever outside Lagos. This was why Asiwaju then as Governor in 2000 protested against the needless wastage!

waynetee:
We are getting there.

Meanwhile, Omoluabis will do something, yeye beerfraud people will looking for every means to claim it. No be juju be that?

Gajagojo:


STOP talking like an illiterate OMATA

Who is borrowing here is the question?

mrvitalis:

It's a loan a loan scam they can easily take out a 45 million dollars loan using the plant as back up... When they fail to pay the loan amcon has to buy the loan using me and u money

proeast:


See this bigot. Geometric already built a gigantic power plant to give Aba 24 hours uninterrupted power supply. Igbos didn't make noise about it, but ordinary 30 megawatts is what you're gloating over?

There is no guarantee it would even be completed, something that might be used for money laundering.

erico2k2:

There are existing lines to them places, so what new investments in line are you talking about or you forget we have a national grid, What I think you are trying to say is step down power at point of generation then excess to national grid right?

Gajagojo:
Victoria Island is not a virgin land
Just securing land,and meeting the safety and planning regulations will cost millions of dollars BEFORE you break ground and start construction.
They may have to buy and demolish existing buildings and put in place safety installations because VI was not designed for power plants in its planning code

Crucially it is their money and. they can spend it now they like

There is nothing to say that the existing provider has to stop business
They will not be selling to everyone and it is not compulsory to buy from them so why the hate from IPOB?

mrvitalis:
30MW power plant for 50 million dollars

Make una dey lie una hear

How much did winners build there 15mw power plant with

Where is Nigerian society of engineers when lies like this are flying around

There is really a gas pipeline to Lagos so what's the excuse... 20 million dollars can deliver this project

Nnannapat:
Oga go back and read the article again. The funds for the project will come from ARM, FBN and Bank of Industry.
ARM is a mutual fund investment company ( money from individual investors).
FBN is First bank of Nigeria.
Bank of industry is owned by the people of Nigeria (me and you).

So any Nigerian that complained about the cost of the project is actually asking a valid question because his/her money is at stake.

You were asking about debt that was bought by AMCON, they have over 1.7 trillion naira of non performing loans bought from different sectors of the economy with taxpayers money. Go to their office and verify.

Nnannapat:
Oga go back and read the article again. The funds for the project will come from ARM, FBN and Bank of Industry.
ARM is a mutual fund investment company ( money from individual investors).
FBN is First bank of Nigeria.
Bank of industry is owned by the people of Nigeria (me and you).

So any Nigerian that complained about the cost of the project is actually asking a valid question because his/her money is at stake.

You were asking about debt that was bought by AMCON, they have over 1.7 trillion naira of non performing loans bought from different sectors of the economy with taxpayers money. Go to their office and verify.

Salewa97:


You don hear about Otedola 435MW Geregu power plant?

flokii:
Nice development.. Itesiwaju ilu Eko ni ipinle Yoruba is on course.

The ones that have solution to other people's problems but can't seem to find a fix to their own problems will find a way to downplay this laudable project.

If Abia likes, let it remain in darkness, we'll see who the people in the State will blame going forward.

proeast:


Otedola didn't build anything. Geregu alongside Alaoji, Papalanto, Afam ii etc were built by the federal government.

Meanwhile, Alaoji in Abia state is bigger than Geregu.

Gajagojo:


It is an Independent power project
Whether it is overbloated is not a relevant conversation

It is not government money

Why are Eboes always unhappy and bitter about Yoruba progress

plaindealer:


Your money is not connected in any way to they project, it's an IPP and it's privately funded and the targeted end users are private entities.

Your concerns are premature, baseless and unfounded unless you are a power contractor, engineer, financier, power manager and distributor with comprehensive knowledge in the power sector and you are able to produce and compare your own detailed cost of labor, cost of equipment to the last nail, cost of gas, operational and maintenance contract and insurance and so on..

Us usual, most of the baseless and ignorant criticisms we read are always from people with zero meaningful progress and development in their villages where they have the most useless and incompetent village leaders.

Sad.

mrvitalis:

Bros it's called loan scam
Jumo Ibrahim is expert in this

You buy or build a project A
Infliate the price and value of A(250% real value)
Call your partner in a bank to agree with your valuation
You can then take 75% loan of your value of A
That's 187% real value
Then you run it for a while sale parts you can sale
Default on your loan since the A is your collateral... Banks would now collect A
Seeing it's not the real value... Bank would call amcon who is the chief guarantee of all alone
Amcon buys of the loan from the bank... Try to run the business to gain back the money the rest is history

Dongote refinery is example, Nixon Hilton Nigeria, Arik, air Nigeria, news watch them plenty

mrvitalis:

What exactly is expensive in a gas turn?

Burner, compressor or turbine or the amateur?

Lmao turbine is just opposite of a fan... I studied mechanical engineering

There is nothing in gas turbine that can't be made in Aba... We no just serious for this country

There is no how this project would be more than 20 million dollars

U can even buy 30mw turn on a truck

Gajagojo:

This is a rant

What is your point?

The project is not funded by you and me
It is funded by debt and equity from multiple sources.one of which is the BOI

It has to be repaid
We are not told how much of the funding is BOI but it is not free money. It carries significant interest and so for BOI it is a business deal

AMCON is not relevant to this conversation

No one I responded to was asking question
They were making biassed claims that it was overpriced without any evidence

Now the question is how much land will be required and how much will that cost in Victoria Island. How much land do you think $50 million can buy in Victoria Island
Secondly Victoria Island planning code is not set up for this
What will it cost to comply?

We simply do not have a shred of information about how the money is to be spent
Asking questions is right

Spewing hateful rants isn't

jmoore:
6.4 billion dollars = 14,400 megawatts in Egypt.

13 Million dollars should give 30
megawatts.

But in Nigeria, they are using 50 million dollars to give 30 megawatts.

Nnannapat:
I don't really need to argue with you, the article clearly stated the funding partners, and yes my money is connected to the project because FBN is involved and I hold some fractions of their shares, Bank of industry is also partly owned by me.

I don't need to be connected directly to the project or have a plan to build my own power project before I can be qualified to ask questions where necessary, it is my right to do so, since our national institutions is involved in the project.

EcoBrick:


https://thenationonlineng.net/50m-power-plant-in-lagosll-drive-economic-growth/

proeast:


See this bigot. Geometric already built a gigantic power plant to give Aba 24 hours uninterrupted power supply. Igbos didn't make noise about it, but ordinary 30 megawatts is what you're gloating over?

There is no guarantee it would even be completed, something that might be used for money laundering.

Salewa97:


You don hear about Otedola 435MW Geregu power plant?

Salewa97:


Who owns Geregu power plant currently?

Stop smoking weed. Shey na Abia people build the Plant wey dey there themselves ni? No be foreigner build am?

Dangote refinery wey everybody dey shout. Shey na Dangote build am himself? No be money he put.

For example, na Yoruba man get ShopRite now. He bought it from the previous owners and that gave him the right to own it with his company.