PressMyButton:
Every person involved in the $16b mambilla power project must be rounded up starting with OBJ. Efcc has started off fairly inviting Agunloye to account but must end it well dragging OBJ into the net. Also, GEJ and Okonjo Iweala would have to cooperate with EFCC regarding the inefficiently privatized NEPA Under review.

Burob:
NLC will never agree.

nairalanda1:


And you can only get more generation if the DISCOS are allowed to make enough profit by being freed to set their own prices, and by government not setting their prices for them, and not paying subsidies....which would enable the discos to pay the GENCOS...which would enable the GENCOS to make a profit to expand generation.

Very simple.

nairalanda1:


Because NLC is a welfarist organisation. While it is commedable, and while Nigeria has a big problem with corruption. , even if we stopped corruption and recovered all our looted money, we would not have enough cash to run a welfare society with cheap power and petrol.

We would run into debt and have to take loans. Too many people.

Only way is to have effective tax collection and some free market here. That way the economy can grow, and then the government can earn enough to pay a form of subsidy.

nairalanda1:

There is no generator cabal. It is a myth we tell ourselves to avoid hearing the trutn. .

Nigeria, quite simply, is not paying enough for the power we consume. This in turn cripples the ability of the power sector to supply power.

In 2001, the Obasanjo admin allowed GSM companies set their prices, without government interference. This enabled the sector to grow immeasurably.

The same thing was not done with the power sector, and the result is what we have.

Add the fact that a large percentage of us do not even pay for power at all. Imagine that you ran a business and most of your paying customers pay below the price you bought your goods, and half of them do not pay at all. Would you do business. ? That's our power sector in a nutshell. That the power sector manages to exist is due to a subsidy from government.

Generator cabals have nothing to do with it.

We Knew Fuel Subsidy Should Go But Played Politics With 2012 Occupy Nigeria Protest Under Jonathan Govt, Says Ex-Gov. Fayemi

Kayode Fayemi, former Governor of Ekiti State, has said that the protest against the fuel subsidy removal during former President Goodluck Jonathan's administration in 2012, by the defunct Action Congress of Nigeria (ACN) and other opposition political parties, was basically premised on political interests.

The former governor said this on Tuesday in his keynote address delivered at a national dialogue organised to celebrate the 60th birthday of the founding National Secretary of Alliance for Democracy and Fellow, Abuja School of Social and Political Thought, Professor Udenta Udenta in Abuja.

Speaking at the event attended by former President Jonathan, former education minister, Oby Ezekwesili and former aviation minister, Osita Chidoka, among others, Fayemi said that all political parties in the country agreed and put in their manifesto that the subsidy must be removed but that the ACN played politics with it.

On January 1, 2012, then-President Jonathan announced the removal of fuel subsidy and adjusted the official fuel pump price from N65 per litre to N141, but the opposition political parties unleashed mass protests tagged, ‘Occupy Nigeria’ to kick against it.

The ‘Occupy Nigeria’ mass protests involving opposition political parties, especially the defunct ACN, of which Fayemi was a member, across major cities of the country compelled Jonathan to re-adjust the official fuel pump price to N97 and subsequently to N87 in 2015 at the eve of the 2015 general elections.

However, President Bola Tinubu, who was a prominent member of the ACN, which later merged with other parties to form the All Progressives Congress (APC), announced the removal of fuel subsidy in his inaugural speech on May 29.

According to The PUNCH, Fayemi while condemning what he described as the “winners take all” style in Nigerian politics and democracy, said the challenges facing the country would not be solved unless the country embraced proportional representation.

He noted that the last time Nigeria experienced economic development was during Jonathan’s administration

https://saharareporters.com/2023/09/05/we-knew-fuel-subsidy-should-go-played-politics-2012-occupy-nigeria-protest-under

Inspirer1:

You can imagine spending 16 billion dollars some years ago and nothing tangible, even Dangote refinery is estimated at 20 billion dollars now...

Slymonster:
Power they sell to the highest bidder. Some neighborhoods will not have light that much while some estate around will be having almost 24hr light. Crazy country.

Burob:
I agree, mother of all strikes will occur in Nigeria, lack of societal discipline.

The Federal Republic of Nigeria was created to be a dysfunctional society.

PressMyButton:
Every person involved in the $16b mambilla power project must be rounded up starting with OBJ. Efcc has started off fairly inviting Agunloye to account but must end it well dragging OBJ into the net. Also, GEJ and Okonjo Iweala would have to cooperate with EFCC regarding the inefficiently privatized NEPA Under review.

No matter how corrupt a govt is no past president of this country can be tried for anything. It’s an open secret deal. As corrupt as OBJ, Jonathan and even Buhari were nothing was and will be brought against them.

Take Jonathan for example. Efcc hounded his wife, seized her property and all but yet Jonathan was untouchable. Even Dansuki or whatever his name was who stole billions meant for arms procurement to fight BH was troubled by the Efcc yet nothing happened to his C-in-C

erico2k2:

Nop, they are greddy, they need to invest their own money into the system, now tell me What has the DISCOS invested on? what infrastructure have the put on the ground?Even prepaid Meter they are charging us.you buy power online they charge you N100. and if you do not have a prepaid Metre you are charged average of N25k up for a 2 bed flat.

nairalanda1:


No.
Things don't work because we do not pay enough to work

Take Nitel and GSM companies. The reason why GSM companies work and why NITEL fell is because GSM companies were allowed to set their prices freely while Nitel was not allowed to set its prices. Result, MTN and now Airtel, along with Glo and even 9mobile, beat Nitel and its mobile subsidiary Mtel to the ground with profit driven development.

Nigerians do not want to accept that petrol and power are not cheap...which is why we have massive dysfunction in both sectors. When you offer cheap petrol and power, someone, somehwere else is paying heavily, and there are massive losses.

Burob:
Lazy minded race of people, the day I landed in Abu Dhabi for the first time, was the day I confirmed that the black man is cursed.

With all their resources & man power, nothing to show for it.

nairalanda1:


Would you invest more and more of your money, if government forced you, assuming you were selling rice, to sell a 50kg bag of rice at N1000 instead of N40000 that you intended to sell it.?

Things, sadly, cost money. It costs money to do business. People would only invest more of their money if they would see returns on investment. With government forcing the power sector to sell below produiction cost (in 2019, it cost N58 to produce 1kwh of power, yet government had been telling discos to sell that kwh of power at N20-30)...HOW WOULD the discos survive.

Three have even collapsed under the strain, even after doing as you suggested. They are now bank-run. Them banks called in the loans.

Power is meant to be run as a business, for the benefit of the business owner. If you don't like it that way, then form a Marxist party and seize the means of production, and sell power at N10 per kwn, and pour in money....well it was tried before, and it led to society collapsing after several decades.

seguno2:


APC clueless socialists and fake progressives frustrated what capitalist PDP handed over to them, despite Fashola’s loud rhetoric before Nigerians bought their scam change package.

Maybe if Atiku and Obasanjo’s telecom sector privatisation was done shortly before the gbatuẹyọ APC olodos took over, they would have equally fcvked it up. Maybe!

erico2k2:

The pricing is right at the moment, their problem is not enough customers. This was what the telcoms did, they invested heavily and the result me n you know,Coys need to have a focast for up to 5 to 7 years of still profits b4 they break even.The electrical mkt is consumer based and we have more than 200 million homes that need electricity so its a big mkt.

nairalanda1:


The telcos did not have the equivalent of NERC telling them to set their prices at 'cheap' rates either.

The Power sector has a NERC that tells them to set their prices, and unlike telcos, where you have to pay to use a phone,(and where all the cheats have long since been wiped out), you can bypass your meter and enjoy power for free illegally...as do a large number of Nigerians. That hits profits badly.

See the problem.?

nairalanda1:


Dubai is only that rich because it is part of a country that produces twice as much oil as Nigeria, for a population less than 16 million people.

In a way it is poor as well. It does not manufacture, or export manufactured goods. If oil collapsed, Dubai would fall as well.

erico2k2:

Rightly so, but see how expensive it was when it started, if not for competition the cost would have gone way up the roof as we speak.Why would they DISCOs be allowed to up thier prices when there has been no significant change or improvement to power supply.The new Law passed on by PMB enables them to generate their own power, transmit it and sell it, that's what they should invest o n.

nairalanda1:
The answer is simple.

When privatization happened, government , to cut a long tale short, kept control of prices through NERC. To the point that the sector could not make enough profit to fix things. This is something that discos and gencos have been screaming about.

Buhari even went as far as ordering NERC to freeze prices for two years...whilst other costs increased. That was a wonderful decision.

Throw in the fact that power stealing is still a big problem....and the result is a sector running at zero profit and having to be saved by subsides on power.

This paper from 2019 gives one a good summary of the problem. And today, the subsidy continues.

But when you tell people on this site, they scream, cry and lose their mojo over the simple fact that capitalism means working systems, while socialisim means destruction.

Things, as has been said in many ways, cost money. Kudi. Gold. Calling me a government supporter does not change that fact. Nor does it change the fact that free electricity does not exist (unless someone at CERN invents nuclear fusion at a grand scale).

nairalanda1:


Telcos were allowed to set their prices as high as they could from the word go. Results: profits which were used to improve things

Discos were not allowed to from the word go. And even they had prices frozen. Results..losses, even as early as 2 years after privatization.

See the issue?

tsdarkside:


forget patriotism with nigerians when it comes to money....

i knew it was a bad idea with nigerians....
they still dont get it that most things that work in western nations is due to patriotism and not money....

take rail for example,if its not goverments that are helpin then their is no way they can make profit....

erico2k2:

Ok tell me what does DISCos invest on?what i infrastructure do they have to build or improve on? cos it seems I am missing something here

Moorish:


I just logged in to say you are very intelligent

Your analyses are the best on this thread

I believe with critical thinkers like you in the country, there is actually hope

You deserve a follow

Thanks sir

nairalanda1:


I think you are missing my point as well.

They did invest, but the price controls kept them from seeing returns on investment, which naturally impacted their ability to make a profit and improve things using said profit.

erico2k2:

I am trying to prove a point hence that question, what physical investment do you think DISCOs have on ground that is part of thier overhead eating into their profit..

Inspirer1:

You can imagine spending 16 billion dollars some years ago and nothing tangible, even Dangote refinery is estimated at 20 billion dollars now...

UncleKoboko:
Ọbasanjọ really destroyed this country.

Same bastard that spent about 20 billion dollars on the sector back then, amount equivalent to 100 billion dollars now.

Half if this money is money than enough to build a nuclear power supply for the sole purpose of electricity.

- Same man that gave out Bakassi peninsula
- Same man that turned Ota farm he used public money to build to his personal property.
- Same man that sold OIL BLOCS to his friends, allies and even concubines...

---

Sadly, electricity problems is what many countries around the world has been able to solve and control.
If Benin republic, Ghana, Gambia etc rarely have power outage, WHAT IS THE PROBLEM OF NIGERIA?

tsdarkside:
look the hugh amounts they are throwin around without no tangible results....

nawa for you nigerians....
privatization was a hugh mistake....

it cant work with people that go crazy when they hear anything money....