ofwest47:
12000 Mw of Electricity Power supply to the Nation is still very low Power supply systems required in the Nation. Nigeria the 6th highest populated country in the world needs nothing less than 200 000Mw of Electricity Power supply. Brazil the 7th most populated country in the world is having above 185000Mw while Mexico the 10th highest populated country in the 🌎 world power supply to Mexico 🇲🇽 is above 150000Mw see Google.com.
So for Nigeria 🇳🇬 we need nothing less than 200 000Mw.
For what is going on, The government in power, and his 👋 Power supply system Minister should go into the way out for the country's need of above 200 000 Mw supply systems.
In power supply systems, what you generate, you should be able to transmit and what transmit you should be able to distribute unlike the going on systems in the country Nigeria today. 🇳🇬.
Like what the Minister is going about foreign power supply contracting systems is a good 👍 way of solving power systems situations in the country. The Minister should have special power
supply systems advisers. This is Wishing you a happy successful program 😊 in the country..

Unserious country.

We were at the same level with these countries in 1960.
Brazil generated barely 1900megawatt in 1950 now 185,000 mw


Between 1980 and 1996, the country witnessed a significant gap in electricity generated and electricity billed which indicates electricity loss in transmission and theft from unauthorized connections. Since the coming of democracy in 1999, the loss ratio had reduced from 46.9% in 1996 to 9.4% in 2008. Vandalism of equipment, lack of proper maintenance of transformers, poor management, and corruption are a few of the reasons Nigeria has produced suboptimal electricity.[17]

sunboy:


Partially true and false.

1. Nigeria does not supply Ghana electricity but we supply Ghana gas for its turbines.

2. Togo and Benin have a joint electrical grid, and they buy electricity from Ghana and Nigeria to meet its need. Benin was working on its own independent power plant sometime ago, not sure if they completed it or not.

3. Yes, Nigeria also supply electricity to Niger.

So since we have gas in abundance and we can supply light to other neighboring countries, why can we supply ourselves?

oz4real83:
Making Fashola the minister of power in the last administration totally killed the power sector. He had zero understanding of the sector and spent the whole four years in the ministry trying to understand how it works and ended the administration without still knowing anything . His only activities were clamouring for constant tarriff increase and discouraging the legislature from criminalizing estimated billing . This was what led the late Abba Kyari attempting to do the work of the minister of power and died in the process after contracting covid19 in Germany for the same Siemens power contract . I just hope people with good knowledge of what power sector is all about should be allowed to handle the sector.

When you tell them a lawyer without even a basic understanding of physic cannot be a power minister or head any technical ministry at all, they tell you it doesn't matter.

God knows how many times they have been signing this contract, no tangible results coming from the signing of the contract. Na wasting of money, time and energy

idolda:
Lol, what about the one signed in 2019 to generate 11,000MW of electricity by 2023 with the same company?

^^^


You are wicked.

MrTed:
What of this deal signed few years ago?
https://ngcc-ng.com/nigeria-siemens-sign-25000mw-six-year-electricity-deal/

^^^


There are too many wicked people on this thread.

Addme:

https://www.thecable.ng/just-in-nigeria-signs-agreement-with-germany-to-improve-power-supply/amp

Good development

nengiscrib:
Thieves, something that ought to be at 11k by 2023, they are talking about signing a new deal.
Lies Lies Lies the government keeps telling the people
Lies Lies Lies

^^^

Menclothing:
Oyinbo and scamming we have sign more than 3 time nothing to show

^^^

Authoreety:
They keep on signing with nothing to show 4 it

Yeah! Peter Obi is working.

By 2050 same contract will be signed again, trust apc at ur peril

omohayek:

Nothing is going to happen. The fundamental problem with Nigeria's power sector isn't equipment, which is easy enough to buy abroad, but the structure of the market itself. Power distributors (DISCOs) aren't allowed to charge enough to recover their costs, which means they can't afford to pay the generators (GENCOs) for the power they are given to distribute. The end result is that neither the GENCOs nor the DISCOs have the money to do even minimal levels of maintenance.

As much as it may pain certain tribal warriors to hear, Fashola was right that the solution isn't rocket science. The problem is that the solution isn't what the masses want to hear - they need to pay what it costs to generate and distribute power, not what feels "fair" to them thanks to an inflated sense of entitlement stemming from the "oil boom" years of the 1970s when Gowon, Murtala and Obasanjo were dishing out "awuff" in the forms of subsidies of all kinds.

Sadly, Tinubu has been so spooked by the backlash from his attempt to cancel the oil subsidy that he clearly lacks the guts to take any major steps in this direction (how could he, when he doesn't even have the courage to let the CBN fight inflation with higher interest rates). All we can expect for the next 4 years is lots more meaningless agreements like this one, while the fundamental issues are left unaddressed.

To a good extent, I have already written off this government in terms of the economy. It seems Tinubu is being more of a politician than a manager. It is as though he is leaving the hard decisions to be made in his second term if he wins one.

The subsidy only shouldn't have been removed, but the price fully deregulated. Also, electricity prices should have also been deregulated and he should have made a public address to make the masses know. If they pay peanuts for power, they'll receive peanut amount of electricity and rely on costly petrol or diesel for their generators.

He also should have within the first week, set up economic policies to not only hasten economic growth, but to help mitigate the pain of the removal of subsidies.

He should have lifted the ban on the importation of poultry for one. Another would have been the ban on second hand clothing. These are not only populist moves but are also beneficial to the economy. This would have been better than the costly palliatives the government offered.

Most importantly, there is an urgent need to cut company taxes. The average company tax rate in Europe OECD is 21.5%. Why is Nigeria's 32% (with education tax included)? A company tax rate of 14.5% would help drive local and foreign investment and would encourage many companies operating in either partially in the informal economy or fully in it enter the formal one. A tax cut will not only boost foreign portfolio investment, but increase tax revenue as the tax base would increase astronomically.

Frankly speaking, I don't think Wale Edun is the man for the job. He might have made a great state commissioner of finance, but is failing managing the nation's economy.

I feel sorry for Oluyemi Cardoso. I suspect he wants to increase interest rates but the president who is a fan of low interest rates is forcing his hand. How will the president in his budget speech announce that inflation would hover around 21.4% for the 2024 fiscal year when this isn't Venezuela, Argentina or Zimbabwe or some other economic basket case.

There will be growth but I see the Naira's continuous fall as that is the only outcome of the expected double digit inflation rate and the CBN's refusal to fight inflation with gusto.

Despite all I have said, I feel the economy could still achieve 5% growth rates from 2026 upwards due to low interest rates and the further liberalization of the economy. I am an estate agent and cost push inflation has enabled developers sell property that would have seem impossible with the new sticker prices.

It is the poor I pity. They bear the brunt of high inflation the most. The government too will pay a high price as the cost of subsidizing the petrol price will simply keep increasing as the Naira falls. Also, wage increase demand are bound to rise as workers try to keep up with rising prices.

This is a very positive development.

Anyway, power companies need to be paid market reflective prices that will enable them cover costs.

There's no free lunch anywhere.

It is time the masses get enlightened about the truth concerning the price of power. Like any company, the Disco and the Genco need to recover cost and make a profit.

People need to be informed that poor supply will mean them relying on very costly electricity from their personal generators. A gallon of petrol cost about N2,700 and that barely lasts 8 hours. Yet, I am sure with deregulated power pricing, that would last for a week if well managed of course.

Nigerians are ready to pay deregulated prices for something from the private sector, but once it is associated with government, they demand it be subsidized or better still, free Trying to shake off the old NEPA in the minds of the public that it no longer exists is hard and that the present players are private companies.

KeenD:
Please anything that will make us have 24/7 electricity is highly welcomed.

Please We will Design a Professional Company Logo or Letterhead for Businesses for 2k only

pay on delivery
Drop us your Company name for your Logo
https://forms.gle/GNhiGkCa9z7sh1oP7
_

You still the believe that shit?

iHateFraudsters:
This was signed a long time ago na.

Either during Jonathan or Buharis tenure.

My brother no be today e don tey

grandstar:


To a good extent, I have already written off this government in terms of the economy. It seems Tinubu is being more of a politician than a manager. It is as though he is leaving the hard decisions to be made in his second term if he wins one.

The subsidy only shouldn't have been removed, but the price fully deregulated. Also, electricity prices should have also been deregulated and he should have made a public address to make the masses know. If they pay peanuts for power, they'll receive peanut amount of electricity and rely on costly petrol or diesel for their generators.

He also should have within the first week, set up economic policies to not only hasten economic growth, but to help mitigate the pain of the removal of subsidies.

He should have lifted the ban on the importation of poultry for one. Another would have been the ban on second hand clothing. These are not only populist moves but are also beneficial to the economy. This would have been better than the costly palliatives the government offered.

Most importantly, there is an urgent need to cut company taxes. The average company tax rate in Europe OECD is 21.5%. Why is Nigeria's 32% (with education tax included)? A company tax rate of 14.5% would help drive local and foreign investment and would encourage many companies operating in either partially in the informal economy or fully in it enter the formal one. A tax cut will not only boost foreign portfolio investment, but increase tax revenue as the tax base would increase astronomically.

Frankly speaking, I don't think Wale Edun is the man for the job. He might have made a great state commissioner of finance, but is failing managing the nation's economy.

I feel sorry for Oluyemi Cardoso. I suspect he wants to increase interest rates but the president who is a fan of low interest rates is forcing his hand. How will the president in his budget speech announce that inflation would hover around 21.4% for the 2024 fiscal year when this isn't Venezuela, Argentina or Zimbabwe or some other economic basket case.

There will be growth but I see the Naira's continuous fall as that is the only outcome of the expected double digit inflation rate and the CBN's refusal to fight inflation with gusto.

Despite all I have said, I feel the economy could still achieve 5% growth rates from 2026 upwards due to low interest rates and the further liberalization of the economy. I am an estate agent and cost push inflation has enabled developers sell property that would have seem impossible with the new sticker prices.

It is the poor I pity. They bear the brunt of high inflation the most. The government too will pay a high price as the cost of subsidizing the petrol price will simply keep increasing as the Naira falls. Also, wage increase demand are bound to rise as workers try to keep up with rising prices.

I agree with everything you've written above. What pains me the most about the direction this government is taken is that unlike Buhari, whose bad policies could be excused as stemming from ignorance, Tinubu knows the right thing to do, but is simply too scared of public opinion to do it. That Tinubu knows what the right policies should be is clear from all the speeches he's given abroad to foreign media, where he proclaims all sorts of plans for reform that he does nothing about upon returning home, only to promptly jet off to yet another foreign location to make yet more grandiose promises he has no intention of fulfilling.

The only thing Tinubu has going for him is that the situation wouldn't be any better under either Atiku or Obi, both of whom have shown themselves to be willing to say anything to pander to public opinion, and neither of whom would have had a working majority in either house of the NASS, even if they truly had any intention of living up to their campaign promises. Nigeria's corruption-driven politics - where candidates must fund themselves instead of relying on grassroots contributions from ordinary party members - simply doesn't allow for the emergence of leaders who are both principled and know what they're doing.

FOOTSOLDIER2:


So since we have gas in abundance and we can supply light to other neighboring countries, why can we supply ourselves?

Yes we have gas in abundance and that’s why we are currently building a gas pipeline to Europe to sell to them.