ositadima1:


Their will be a diminished demand for petroleum products in d western countries, but in Africa not so much, I still see a lot of 90's cars on the streets. Most African countries cant generate enough electricity to run their basic needs talkless of using it to run vehicles.

50 years from now, the internal combustion engine will still be prevalen in most parts of Africa.

ositadima1:


Trust me, I have done some research on utilizing solar panels to charge PEVs (Plug-in electric vehicles) and it is not viable on a commercial scale. Except there is a drastic improvement in the efficiency of solar panels.

Let me do a little math here:

2020 Tesla Model 3 Long Range only requires 26 kWh of energy per 100 miles.

A standard solar panel generates 300W per hour.

You need 26000 / 300 = 86 pannels to fully charge one vehicle in 1 hour.

You need 26000 / (300 × 2) = 43 pannels to fully charge one vehicle in 2 hour.

You need 26000 / (300 x 5) = 17 pannels to fully charge one vehicle in 5 hour.

U get my drift? Note that I am not accounting for losses during the energy transfer.


On your second point, like u said, people solving these problem don't take Africa into account - they dont take our abysmal electricity situation into account.

Even at that, they are not going to run this vehicles on solar, they are planning to install charging stations for these cars supplied from a grid.

Do we have such infrastructure in Nigeria, most importantly, are we going to have them in the near future?

Biafran4life:
To add to your submission.Will the heavy duty cars which Carry goods run on electric engine too.Then this solar power thing is not working.Most houses and businesses installing it hadly use it for six months.It either stops working or not generating enough power.look at goverment street lights.The panel always have one issue or the other.Why are the banks not using them.Most people will rather go for inverters being charged by phcn power or generator.The use of fuel is not going anywhere in the next 50yrs in Africa and many poor nation.

Biafran4life:
To add to your submission.Will the heavy duty cars which Carry goods run on electric engine too.Then this solar power thing is not working.Most houses and businesses installing it hadly use it for six months.It either stops working or not generating enough power.look at goverment street lights.The panel always have one issue or the other.Why are the banks not using them.Most people will rather go for inverters being charged by phcn power or generator.The use of fuel is not going anywhere in the next 50yrs in Africa and many poor nation.

Donbrig:
From emmasoft who is still banned. As you rightly said, there is incentive fees for fund managers in mutual funds which makes the displayed rate as net for some funds, depending on the managers.

There is management incentive for VGIF, the difference is where the incentives come from which differs from other types of funds and it is one of the uniqueness of VGIF.

No incentive is deducted from the guaranteed rate (SDF) which is currently 4.5%

All incentives come from the excess returns above the SDF.

Here is the excess above SDF sharing formula for VGIF: 35% of excess above SDF for investors of fund, 15% of excess above SDF revenue reserve of the fund, 50% of excess above SDF is incentive fees for the fund managers and fees for other parties to the fund.

This is a win win situation for investors in VGIF, since fund managers always get paid from the excess above SDF, they strive to always have excess above SDF because no excess no pay and once there is excess the investors get additional earnings above the guaranteed rate.

In this case, the current 4.5% is the least all investors will get, they will always get more.

emmanuelewumi:



Thank you very much. Has CBN reviewed the SDF?

ositadima1:


Trust me, I have done some research on utilizing solar panels to charge PEVs (Plug-in electric vehicles) and it is not viable on a commercial scale. Except there is a drastic improvement in the efficiency of solar panels.

Let me do a little math here:

2020 Tesla Model 3 Long Range only requires 26 kWh of energy per 100 miles.

A standard solar panel generates 300W per hour.

You need 26000 / 300 = 86 pannels to fully charge one vehicle in 1 hour.

You need 26000 / (300 × 2) = 43 pannels to fully charge one vehicle in 2 hour.

You need 26000 / (300 x 5) = 17 pannels to fully charge one vehicle in 5 hour.

U get my drift? Note that I am not accounting for losses during the energy transfer.


On your second point, like u said, people solving these problem don't take Africa into account - they dont take our abysmal electricity situation into account.

Even at that, they are not going to run this vehicles on solar, they are planning to install charging stations for these cars supplied from a grid.

Do we have such infrastructure in Nigeria, most importantly, are we going to have them in the near future?

afroxyz:


The same way people thought GSM would not work, and too expensive for Nigerians. Renewable energy costs have been on the decline in the paat decade. As more capital is allocated to renweable energy, costs would come down making it more afforable for people. Also, oil companies like Shell or Chevron are already commiting to renewable energy. BP already has a fledging renweable energy unit. If your biggest consumers (US, China, India and Europe) re moving away from oil, would producing crude still be profitable in the long term? Is it the African market that would produce enough fx to meet Nigeria's needs? Saudi is already investing massively in hydrogen and is aiming at having the cheapest renweable energy coats globally.

maishai:


Lets not drag on the numbers or the technology that would replace oil, its not in my place to say anything on that

but the practical example i gave should show you that the world is heading somewhere, " the normal electrical store usually possess 1 i pass my neigbour Generator to test bulbs, DVDs, and sundry that customer buys, the fact that many have moved to solar tells me this traders have seen something practical in it...................... This definitely is revenue loss both for NEPA and Oil traders...........

Africa will definitely not be left behind, rather i would say maybe Africans would use technology of lower quality, If Apple phones are too expensive, we use tecno and itel and not grand mama telephone

Me and You know that Yankee Coke taste better than Nigerian Bottled Coke, but Coke na still Coke, Africans are not drinking Zobo and calling it coke

IyawoToBe:
I asked and was told it has not been listed. How true is this?

emmanuelewumi:

Thank you very much. Has CBN reviewed the SDF?

maishai:


Lets not drag on the numbers or the technology that would replace oil, its not in my place to say anything on that

but the practical example i gave should show you that the world is heading somewhere, " the normal electrical store usually possess 1 i pass my neigbour Generator to test bulbs, DVDs, and sundry that customer buys, the fact that many have moved to solar tells me this traders have seen something practical in it...................... This definitely is revenue loss both for NEPA and Oil traders...........

Africa will definitely not be left behind, rather i would say maybe Africans would use technology of lower quality, If Apple phones are too expensive, we use tecno and itel and not grand mama telephone

Me and You know that Yankee Coke taste better than Nigerian Bottled Coke, but Coke na still Coke, Africans are not drinking Zobo and calling it coke

Biafran4life:
Oga no body has moved to anything solar.Go around the small business Everywhere it is still generator.I better pass my neighbor. The medium and big businesses are still on generators.Abeg I am on the street and say what I see.Go to any plaza, or estate is all generator.All fast food, fueling stations,salon,banks,welders etc,Whr are you getting your own information.Hope you have not turned to APC

Biafran4life:
Oga I no get strength.We don't live in the moon.How many Nigerian drive new cars presently or can afford quality one including you.The electric car will come as brand new car. And how much do you think it will cost for the low/middle class to buy one With good safety standard..Pls don't even advocate people can go the way of consumer loan

Biafran4life:
Oga I no get strength.We don't live in the moon.How many Nigerian drive new cars presently or can afford quality one including you.The electric car will come as brand new car.And how much do you think it will cost for the low/middle class to buy one With good safety standard..Pls don't even advocate people can go the way of consumer loan

maishai:


there are lots of enterprising folks hustling trying to make ends meet..................... Let me give an example, when the price of Keke marwa was getting out of hand, someone out there probably in Ladipo came up with the Idea of bringing in this Suzuki hijet buses from Japan as tokumbo replacement for keke, a risk that finally paid off as it is priced in conjuction with new keke.......................... At inception I once priced this buses for 100k and the seller would sell gladly to me, something you cant get now for 900k

One thing with free markets is that people will come up with solutions, You will be suprised

afroxyz:


Never bet against innovation. Its all I'm saying

NL1960:


If solar is working as maishai is claiming, how come the GSM companies have not switched their base stations to it but are still relying on diesel powered generators.

RayRay06677:
Some banks are on solar now, FCMB Eket branch
in the long run, solar usage is very profitable economically. like that bank that max during the day and minimal usage at night, if properly managed will be more profitable than public power source. over 6years I have used solar and I wish to share the good news, its better than any other source in Nigeria, before then I spent 14k monthly for NEPA plus gen but now with my meter, I spent less than 1k in a month and only uses gen to pump water. you can help me calculate the six years cost then compare with the cost of solar system.

years to come, fuel will phase out. the electric car will start having tokumbo and we will switch lanes.

Biafran4life:
Since you have used it.I have not.
I will like to find out something from you
1.How many panel and size are you using
2What appliances is this capacity covering for you
3what duration does it last or supply power
4.What is the total cost both for installation and gadgets
5How long have you been using it.
6What is the maintenance cost
Please this is just to know whether to switch from generator.

ojesymsym:
Oga, solar works especially when properly sized, that I can tell you for free.

Most people have an energy mix of Solar, Gen and PHCN.

There is a very active thread for solar, you will be properly guided on how to go about it.

The rule of thumb is usually to start by powering just you most essential appliances and grow gradually from there as you begin to understand the system.

ojesymsym:
Oga, solar works especially when properly sized, that I can tell you for free.

Most people have an energy mix of Solar, Gen and PHCN.

There is a very active thread for solar, you will be properly guided on how to go about it.

The rule of thumb is usually to start by powering just you most essential appliances and grow gradually from there as you begin to understand the system.

ojesymsym:
Oga, solar works especially when properly sized, that I can tell you for free.

Most people have an energy mix of Solar, Gen and PHCN.

There is a very active thread for solar, you will be properly guided on how to go about it.

The rule of thumb is usually to start by powering just you most essential appliances and grow gradually from there as you begin to understand the system.

Sadly you were not even the one he quoted

Biafran4life:
Since you have used it.I have not.
I will like to find out something from you
1.How many panel and size are you using
2What appliances is this capacity covering for you
3what duration does it last or supply power
4.What is the total cost both for installation and gadgets
5How long have you been using it.
6What is the maintenance cost
Please this is just to know whether to switch from generator.

Biafran4life:
Since you have used it.I have not.
I will like to find out something from you
1.How many panel and size are you using
2What appliances is this capacity covering for you
3what duration does it last or supply power
4.What is the total cost both for installation and gadgets
5How long have you been using it.
6What is the maintenance cost
Please this is just to know whether to switch from generator.

ahiboilandgas:
with dollars hitting 500 na only 0.00001 percent of Nigerians go ever drive brand new car....currently the tokubo na challenge next na Nigeria use people go dey use

afroxyz:

The cost of Tesla car is reducing because of breakthrough in battery technology . The chinese are also making cheaper versions. Las las second hand market go dey. Just the mobile phones were first expensive before everyone could afford them. It may take a long time, but there would be a time the country would have no choice