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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 11:20am On Jul 23, 2022
Caleycashh:
Most useless country in the world, ordinary Benin Republic currency is high than naira, shit hole country!!!
Feel free to migrate to Benin Republic… grin
As if it is not the SMUGGLING activities (goods in, fuel,out) of NIGERIANS that sustains the Beninoise economy.

Ultimately, Nigeria’s condition is the result of the various actions of ALL Nigerians (by commission or omission)!

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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 11:15am On Jul 23, 2022
mojoyin73585:
Make they kuku sell the useless country.I see a revolution happening soon, killings of rich politicians and their families will start soonMake they kuku sell the useless country.I see a revolution happening soon, killings of rich politicians and their families will start soon...
And those “revolutionary” Nigerians will become rich and the cycle continues…
The “militant” leaders of the Niger Delta (Tom Ateke, Tompolo, etc.) have all become wealthy from their “militancy”!

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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 11:11am On Jul 23, 2022
MT:
Everyone benefits from "Fixed" expenses, not only people abroad. Those items with variables costs affect everyone. Everyone spends more when economy tanks.
As the Naira depreciates against the dollar…
Fixed Naira obligations for people abroad becomes CHEAPER, and thus they benefit MORE!
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 11:09am On Jul 23, 2022
beautyhd:
If you have someone that sends dollars to you once in a while, call them and thank them.

Most buildings under construction in Nigeria are done by people abroad.

Most people abroad I know are happy with the current state of naira.


The effect of this is killing and frustrating home based Nigerians.

10k can’t comfortably feed a family of 3 for 3 days
Exactly!
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 11:05am On Jul 23, 2022
MT:
Weakness of Naira does not pay anyone, even if you are living abroad. Money is measured in value and once Naira is losing value against the dollars, its value is eroded. Those abroad will use 100 USD to buy an item that is normally worth 10USD. Even you that put your Naira in your account without buying or selling anything too will also be affected, your money is dropping in values.

Inflation cuts across the spectrum
Not true, there are many FIXED expenses and obligations in Naira for folks living abroad…
And even when Naira prices trend upwards, they mostly LAG way behind Naira depreciation rates.

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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 11:03am On Jul 23, 2022
Prosper123:
I have not asked them but it might be hard because the bankers said there is a shortage of dollar bills.
yesloaded:
Do you mean your bank will not give you raw dollar in cash?
If you have a domiciliary account, you get your money in dollars…
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist:
marenkurz:
That is not true. Any Patriotic leader would need 16 years to undo the damage that has been done. Don't get me wrong, Buhari is useless. However, Obi can't do anything meaningful in four years. The best he could do is to remove subsidy, which means more inflation. Considering Nigeria is already borrowing to service debt, I don't see anybody including Obi doing any magic. Nigerians are fu#ked
Absolutely NOT true! While there are admittedly some long-term fixes required (education, for starters)…
But the Nigerian economy can be turned around in a relatively short period (even with other fundamental issues outstanding).

In fact, things like the exchange rate are the EASIEST to “fix”. Ghana did it by simply loping three 000s of the cedi…
The more fundamental issue is economic PRODUCTIVITY, but simply doubling ELECTRICITY output will have a GEOMETRIC impact on output.
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PS: I am not necessarily saying that Peter Obi could do so.
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 10:45am On Jul 23, 2022
MallamChukwudi:
Most people abroad are NOT happy about the exchange state or broadly, the state of things in Nigeria. This is not correct. People abroad feel it the most.

They are the ones family members back home depends upon, and even extended family members.

They are the one who desperately wanted to return back home, but the insecurity, cost of living and no viable source of income makes them remain in countries otherwise, they won't want to be in any longer.

Besides, even if naira falls to 1k per usd, it doesn't mean pure water will remain five naira, cost of living goes up as well, even triple, afterall. Naira gets expensive as it falls.
They may not be happy about “the state of things in Nigeria” but they’re definitely happier about the exchange rate…
First, they are many FIXED Naira obligations, and even when prices trend upwards it lags behind the exchange rate depreciation.
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist:
Heterodox:
Obi cannot solve a global disaster.

It's everywhere
This is the misnomer that gives comfort to Buhari’s GROSS INCOMPETENCE…
Even in a “global disaster”, there are things that you can do to NOT aggravate it.

General Buhari takes a global setback and turns it into a domestic tsunami…
Eg, with the 2016 economic recession, his DUMB economic policies prolonged and exacerbated it.

When other similarly-placed nations (Egypt, Angola, etc.) were exiting that recession…
Nigeria was diving deeper into a depression that ultimately took almost two years to exit.

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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 10:34am On Jul 23, 2022
DukeofUmueri247:
You are right..Most Nigerians abroad should never be depended on...But this is the right time at least to help ur kins in Nigeria as someone living abroad because even if you send 20 USD to someone in Nigeria now, he or she will thank you for the rest of the year.
You’ll be lucky if they thank you for the rest of the week - if at all…
The Culture of Entitlement has taken root among so many Nigerians who believe if you’re doing “better” you owe them something.
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 10:31am On Jul 23, 2022
sunnnnyuu:
Obituary and Buhari are the same.
Buhari is not corrupt, people use their hard earning to campaign for him when he became president, the masses that support him are one suffering and now Obi is not corrupt from his previous record, people love him even using their money do campaign for him when he win election he will be like Buhari so I will not support obituary better I go for Tinubu or Atiku
I STOPPED READING AT THE HIGHLIGHTED… angry
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 10:29am On Jul 23, 2022
gtrust:
If you ever send money to anyone in Nigeria yes they will appreciate but they will turn it to employment and demand for that money as if it’s their salary.
Even those with small jobs will stop working and be sending stupid text messages like “happy Friday” or “happy Monday” or “happy new month” etc nonsense like these. They will constantly call to greet.

You need to know that those abroad live on credit: they have to pay student loan, mortgage, car loan, phone loan, furniture loan, wristwatch loan etc and they have to feed spouses and children etc etc

E no easy that side too oh!!
You know Nigerians very well…
The Culture of Entitlement can be gobsmacking.

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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 10:27am On Jul 23, 2022
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Actually, as bad as this appears…
This would NOT be of as much significant if we were a PRODUCTIVE economy.

Unfortunately, it bites hard because we are massively import-dependent…
We’re the ONLY oil-rich nation that LOSES when prices go up because we import petroleum products!

When Nigerians are calculating the minimum wage in dollars, I ask WTF…
Why on earth would the masses care about exchange rates if not because many basic things are imported.
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BusinessRe: What Is Happening To Nigerian Currency by 9jaRealist: 10:16am On Jul 23, 2022
rolams:
1$ equal #1,000 soon!
nairalander2020:
Very soon one dollar will be equals to one thousand naira, Nigeria is in free fall.
Perhaps when General Buhari promised the exchange rate will be 1-to-1, he forgot to add 000… grin grin grin

Nigerians looking for “changi” have only themselves to blame…
Some of us forewarned that change is NOT synonymous with progress, but got drowned out by “Sai Baba” chants! SMH

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CrimeRe: Kidnapped Student Of Arthur Jarvis University Rescued, 3 Killed (Graphic) by 9jaRealist: 7:56pm On Jul 22, 2022
Evolutionlove:
Amateur hungry street urchins whom the nation have failed and want to survive by all means. Humanity left Shiiithole In 1900..
Yes, let’s throw them a pity party…
Because those VICIOUS BARBARIANS are the real victims!

Disgusting that moral hazard is in short supply in Nigeria…
Instead, people identify with and make excuses for gross CRIMINALITY!

Anyone who can afford a gun can afford a grinding machine to make an honest living…
And in a country struggling to feed itself, able-bodied men have tons of agricultural opportunities.

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CrimeRe: Kidnapped Student Of Arthur Jarvis University Rescued, 3 Killed (Graphic) by 9jaRealist: 7:48pm On Jul 22, 2022
Obio4real:
By Obio Monday

Source: https://www.grassrootreportersng.com/2022/07/kidnapped-student-of-arthur-jarvis-university-rescued-3-suspects-killed-1-arrested-graphic.html?amp=1
EXCELLENT work!
Saved the expense of a trial and feeding these reprobates in prison.

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PoliticsRe: Nollywood Actors Meet Bola Tinubu (Photo) by 9jaRealist: 7:41pm On Jul 22, 2022
wwwihy:
Nollywood Best Actors Meet Bola Tinubu
I don’t recognize any of them…
Are they like the “cardinals and bishops” from the other day?!
grin

The BULLION VANS are working overtime.
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PoliticsRe: Court Sacks Governor Umahi As Ebonyi South APC Senatorial Candidate by 9jaRealist: 7:38pm On Jul 22, 2022
neoclassical:
Federal High Court sitting in Abakaliki has sacked Gov Dave Umahi as Ebonyi South APC Senatorial Candidate and upheld Mrs Ann Agom Eze as the authentic candidate for the Party.
Details shorty.


UPDATED:
This is the woman that defeated His Excellency, Engr David Umahi today in Abakaliki Federal High Court. She's Mrs Ann Agom-eze. She came second in the APC senatorial primary election for Ebonyi South Zone. Engr David Umahi's younger brother, Austin Umahi came first. Austin Umahi withdrew from the election and relinquished the ticket to Engr David Umahi. INEC frowned at it and omitted Engr David Umahi's name as it never monitored the rerun exercise announcing Umahi candidate. Engr David Umahi went to Federal High Court in Abakaliki, seeking order of court for INEC to publish his name as senatorial candidate for Ebonyi South. Ann Agom-eze applied to be joined in the suit.

Delivering his judgment this morning on the suit, Justice Riman cited section 115 of the electoral act which forbids a person from standing two different primary elections in the same year. He said in his judgment that such a person if found claiming to participate in two primary elections risks a two year jail term. He said that the authentic senatorial candidate of the APC is Mrs Ann Agom-eze since Austin Umahi withdrew from the race.

Therefore, if Engr David Umahi files an appeal, he stands to gain two years jail bounty as stated by Justice Riman in his judgment.
Congratulations to Mrs Ann Agom-eze.

Nwoba Chika Nwoba
EXCELLENT! GOOD RIDDANCE… cool
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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist: 7:17pm On Jul 22, 2022
leokid866:
Oga stop talking like we all dont live in the real world, that something was designed by worldbank does not mean its execution would be done accordingly or by the bank itself.......you mentioned a law backing the privatization process stating it to be concluded 10 years after, to me that just show signs of the PDP government of the time kicking the ball down the line instead of facing the problem............also me having shares in a company does not mean i get to tell them what to do, most of these companies themselves are not on the Nigerian stock exchange themselves with some in the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market so why would i as a shareholder go and float my shares in a market the company is not participating? if you want shares in the discos go to the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market nobody will stop you. most of these discos are been privately run and badly because two of them this year have been taken over by banks with several others facing default, and thanks to the badly put deal by Jona guess who is ending up with the bills? and as for pricing you forget the subsidy payments were removed by government allowing the discos to charge based on market forces so dont even drag the FG into that one because i have seen my electricity price unit rise and fall several times this year alone............. you cant hand me a pig and a lipstick and expect me to give you the princess bride........Jonas government goofed on this one cause his party handled the process from 2005 to 2013 turned in Shit and you expect the government of the next eight years to keep polishing it?.............
For the umpteenth time…
The DISCOs are 40% owned by Buhari’s federal government. grin

Nonetheless, why wouldn’t they face financial default?
Buhari’s DISASTROUS pricing policies prevents cost-reflective tariffs and GUARANTEES they LOSE money.

Even the roadside Buka or Akara seller understands you cannot price below your production costs…
Yet somehow (perhaps not surprising) General Buhari and his acolytes do not understand this BASIC fact!

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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist: 7:01pm On Jul 22, 2022
leokid866:
excuses.........
grin grin grin

It sounds like “excuses” to General Buhari and his Apologists because they don’t even understand BASICS…
The entities you’re bemoaning not being privatized in 2005 when ESRA was enacted did not even exist in 2005!

What the ESR Act did was to provide the steps to unbundle the clay-footed behemoth monopoly that was NEPA, by among other things (1) untangling the cobweb of NEPA’s operations into three distinct and disparate lines - generation, transmission, and distribution, (2) de-CENTRALIZING those operating lines into distinct and autonomous regional companies, (3) ultimately creating and incorporating distinct companies out of those autonomous regional operating entities (the GENCOs, TCN and the DISCOs), (4) creating a holding entity for NEPA’s existing operational liabilities, (5) instituting an entity for NEPA’s pension liabilities, (6) negotiations with the labor unions about the gratuities and other liabilities arising from the liquidation of NEPA, and (7) setting up a regulatory agency for the entities to be privatized (that is, NERC), among other steps, all BEFORE even the starting of the initial PARTIAL privatization process (not event).

I am not an academic (or intellectual) snob, but sadly have lived to witness the consequences of a poorly-educated leader…
General Buhari sought power and got it. He should now grow a pair of balls and quit blaming the past for his CURRENT FAILURES!
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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist:
leokid866:
Oga stop talking like we all dont live in the real world, that something was designed by worldbank does not mean its execution would be done accordingly or by the bank itself.......you mentioned a law backing the privatization process stating it to be concluded 10 years after, to me that just show signs of the PDP government of the time kicking the ball down the line instead of facing the problem............also me having shares in a company does not mean i get to tell them what to do, most of these companies themselves are not on the Nigerian stock exchange themselves with some in the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market so why would i as a shareholder go and float my shares in a market the company is not participating? if you want shares in the discos go to the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market nobody will stop you. most of these discos are been privately run and badly because two of them this year have been taken over by banks with several others facing default, and thanks to the badly put deal by Jona guess who is ending up with the bills? and as for pricing you forget the subsidy payments were removed by government allowing the discos to charge based on market forces so dont even drag the FG into that one because i have seen my electricity price unit rise and fall several times this year alone............. you cant hand me a pig and a lipstick and expect me to give you the princess bride........Jonas government goofed on this one cause his party handled the process from 2005 to 2013 turned in Shit and you expect the government of the next eight years to keep polishing it?.............
With all due respect, yet more evidence that General Buhari and his Apologists do not understand even the BASICS…
The ESR Act of 2005 was a COMPREHENSIVE law with several STEPS, of which privatization was actually one of the final steps.

The ESR Act was not simply a privatization law but rather a law that provided a specific PROCESS (a concept that Buhari and Apologists continue to struggle with) to COMPREHENSIVELY OVERHAUL the electricity sector (and hence the name “the Electric Sector Reform Act” of 2005), based on the REALITY that what Nigeria had been doing for the almost 50 years since independence was simply not working. Accordingly, the law MANDATED (not suggested, as the Buhari government seem to believe in its usual disdain for the Rule of Law) several steps as part of the overhaul PROCESS, and not just a series independent events as Buhari and his Apologists seem to understand it.

Even the companies that were privatized in 2013 (which btw is NOT “10 years after” the enactment of the ESR Act did NOT EXIST in 2005 when the law was enacted, so to clarify your apparent confusion, the government in 2005 could not have simply privatized NON-EXISTENT companies. Instead, what the ESR Act did was to provide the steps to unbundle the clay-footed behemoth monopoly that was NEPA, by among other things (1) untangling the cobweb of NEPA’s operations into three distinct and disparate lines - generation, transmission, and distribution, (2) de-CENTRALIZING those operating lines into distinct and autonomous regional companies, (3) ultimately creating and incorporating distinct companies out of those autonomous regional operating entities (the GENCOs, TCN and the DISCOs), (4) creating a holding entity for NEPA’s existing operational liabilities, (5) instituting an entity for NEPA’s pension liabilities, (6) negotiations with the labor unions about the gratuities and other liabilities arising from the liquidation of NEPA, and (7) setting up a regulatory agency for the entities to be privatized (that is, NERC), among other steps, all BEFORE the even the initiation of the privatization process.

The Privatization PROCESS itself (and again, need to emphasize for General Buhari and his Apologists is not an event, but a PROCESS that required several time-consuming iterations, including EOIs, data room due diligence, technical and financial due diligence, etc. even BEFORE public bidding was held), which was partly designed and wholly supervised by the World Bank (which had dedicated project staff and an office embedded with the PHCN headquarters), provided for only a PARTIAL (not full) privatization initially, with the federal government retaining and holding 40% of the ownership of the DISCOs, complete with board seats and thus input into the operations of the DISCOs. This has continued to be the case since General Buhari assumed headship of the federal government barely 2 years later in 2015, which has enabled General Buhari to appoint so many of HIS PEOPLE onto the boards (which again seems to be what he enjoys most about his office - apart from globetrotting, but that’s a different discussion). The privatization process MANDATED that, upon meeting several metrics that was premised on the institution of cost-reflective tariffs (admits other governmental actions), the privatization process would then be COMPLETED by publicly-listing the PARTIALLY-privatized DISCOs on the stock exchange. General Buhari continues to IMPEDE this.

Personally, I consider the PDP and the APC to be merely two sides of the SAME corrupt and incompetent coin (after all, a significant number of the folks in the APC used to in the PDP, and increasingly vice versa), so I have been circumspect not to bite on your “PDP” references, because this the primary way that General Buhari and his acolytes and apologists tend to MISLEAD and MISDIRECT Nigerians - and I suspect that’s more because these folks (including General Buhari himself) are CLUELESS rather than any deliberate or clever ploy to obfuscate. Unfortunately, the problem is that (just with life itself) if we MISDIAGNOSE a problem, we are invariably DOOMED to failing to cure it. The problem with CURRENT electricity supply inadequacies and shortcomings in Nigeria is NOT the privatization process initiated by the Jonathan administration in 2013, but rather substantially and substantively what General Buhari and his government has done (and more crucially FAILED to do) in his almost EIGHT YEARS in office, starting from barely 2 years after the PARTIAL privatization in 2013.

These issues are not rocket science - except perhaps to General Buhari and his Apologists. He sought power and got it. He should now grow a pair of balls and quit blaming others for his obvious FAILURES and shortcomings!
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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist:
leokid866:
Actually the entire privatization process was done under Jonas government......it was a terrible plan that saw the government take control of transmission while leaving distribution in private hands.....not only that the government had to pay huge sums to take over transmission lines that where old and worn out with no plan on how they would be replaced or upgraded.....it also saw the government saddled in head spinning contact with the discos where basically the government was still saddled with funding a lot of their cost with no power of oversight or control despite the discos been in private hands....The NERC was only a lapdog who was empowered to bite under Buharis government. Jona had already package the deal and just handed off the burden to Buhari......and since going back on the contract wi see The gencos and discos suing Nigeria for billions of dollars we did not have becaus Jona and Diezani had looted the treasury before leaving. It was just like P&G case Buharis government had no idea how it came about but because they were the government in power they were left to clean up the mess.....and when the Senate asked Jona to come explain himself he said they should bring half a billion to fly him private to Abuja.
The federal government did NOT have to pay to “take over” the transmission lines because it was already own by the government…
Government owned EVERYTHING in the electric power chain (generation, transmission and distribution) until the ESRA unbundled NEPA!

A chain is only as strong as it’s weakest link, and so even though the GENCOs have an installed capacity of about 13,500MW and can comfortably generate between 7-8000MW of power, the Transmission Company of Nigeria, which is NOT privatized and is fully 100% owned, controlled and operated by the Buhari federal government (complete with HIS PEOPLE appointed by him to head and run it), cannot transmit more than 3-4000MW of generated power per day - even after almost EIGHT YEARS of the Buhari government. This is the CURRENT REALITY. It has nothing to do with the partial privatization exercise of 2013, because TCN was NOT privatized and was NOT part of that process, and anyone competent or earnest in that position would have been able to rehabilitate and modernize the transmission lines after almost EIGHT YEARS in power. Sadly, the incompetent General Buhari is incapable of giving what he does not have.
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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist:
leokid866:
Actually the entire privatization process was done under Jonas government......it was a terrible plan that saw the government take control of transmission while leaving distribution in private hands.....not only that the government had to pay huge sums to take over transmission lines that where old and worn out with no plan on how they would be replaced or upgraded.....it also saw the government saddled in head spinning contact with the discos where basically the government was still saddled with funding a lot of their cost with no power of oversight or control despite the discos been in private hands....The NERC was only a lapdog who was empowered to bite under Buharis government. Jona had already package the deal and just handed off the burden to Buhari......and since going back on the contract wi see The gencos and discos suing Nigeria for billions of dollars we did not have becaus Jona and Diezani had looted the treasury before leaving. It was just like P&G case Buharis government had no idea how it came about but because they were the government in power they were left to clean up the mess.....and when the Senate asked Jona to come explain himself he said they should bring half a billion to fly him private to Abuja.
Not sure where to begin deconstructing this, but I will try…
Why do Buhari Apologists think providing electricity is an evdnt instead of the CONTINUING PROCESS it should be?!

First, the privatization was MANDATED BY LAW (the ESR Act of 2005), and the entire process was supervised (probably even designed) by the World Bank, based on international best practices. Nonetheless, to say that privatization was “done” under the Jonathan administration yet again betrays the misunderstanding of the BASICS by General Buhari and his acolytes and apologists, because it was only a PARTIAL privatization, with the federal government (presided over by General Buhari since 2015) retaining and STILL CURRENTLY holding 40% of the ownership of the DISCOs (which has turned out to be one of the weaker links of the electricity provision chain) almost a decade after the privatization process was initiated. The FULL privatization was actually supposed to be concluded five years after the privatization process BEGUN in 2013 under the Jonathan administration, upon the meeting of certain specified metrics, around 2018 (which would be well into the Buhari administration) with the PUBLIC LISTING on the stock exchange of the 40% still CURRENTLY held by the Buhari federal government (and the great thing about a PUBLIC listing on the stock exchange is that ANYONE can buy shares instead of just so-called “cronies”).

Unfortunately, not only has those metrics not been met because the federal government, presided over by General Buhari, retains a DISASTROUS pricing policy that refuses to allow cost-reflective tariffs and have thus virtually destroyed the balance sheet and bankability of the DISCOs, but even more crucially because General Buhari’s federal government, with his CENTRIST impulses and preference to retain this substantial ownership stake in the supposedly “privatized” DISCOs so that he can continue to appoint HIS PEOPLE to various positions of authority and directorships, has shown absolutely no inclination to conclude the process - which btw was STATUTORILY-MANDATED by law (the ESR Act of 2005). It continues to be shockingly ignorant when General Buhari, who has now been in office for almost EIGHT YEARS continue to wail about a process that was started under the Jonathan administration (which was less than 6 years in office) but was MANDATED BY LAW to be concluded about five years later under the Buhari administration. The law did NOT change with the change of government. Rather the CLUELESS Buhari government simply refuses to implement the law (including pricing policies based on costs).
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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist: 3:10am On Jul 22, 2022
seunmsg:
Obi was the adviser to Jonathan when Discos and Gencos were sold to PDP cronies who know little or nothing about generation and distribution of electricity. Today, Obi, Atiku and the other PDP rogues that created the mess are the ones making the loudest noise about the problem they created.

It’s just unfortunate that Nigerians forget things too easily. Under Jonathan, power supply was extremely woeful. Buhari hasn’t performed to expectations to doubt but he has invested a lot in power generation and transmission. PDP members like Obi and Atiku that participated actively in spending $16billion to generate darkness should not be talking at all.
Buhari’s federal government still owns 40% of each DISCO…
Buhari’s federal government has board directors in each DISCO…
Buhari’s government owns and controls 100% of TCN…
Buhari’s TCN lacks the capacity to transmit electricity currently generated…
Buhari’s federal government controls pricing policies…
Buhari’s disastrous pricing policies renders DISCOs unbankable…
Buhari’s pricing policies leaves DISCOs unable to pay GENCOs…
Buhari’s policies renders GENCOs unable to pay gas producers.

After 8 years in office, a CLUELESS president still does not grasp BASICS!

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PoliticsRe: Sowore Replies Peter Obi On National Grid Collapse by 9jaRealist:
seunmsg:
Obi was the adviser to Jonathan when Discos and Gencos were sold to PDP cronies who know little or nothing about generation and distribution of electricity. Today, Obi, Atiku and the other PDP rogues that created the mess are the ones making the loudest noise about the problem they created.

It’s just unfortunate that Nigerians forget things too easily. Under Jonathan, power supply was extremely woeful. Buhari hasn’t performed to expectations to doubt but he has invested a lot in power generation and transmission. PDP members like Obi and Atiku that participated actively in spending $16billion to generate darkness should not be talking at all.
You mean the privatization process supervised by the World Bank?! huh
Which great electricity companies or investors bid for these companies and were rejected?!

The privatization under the Jonathan administration is not the primary problem with electricity in Nigeria, as they keep regurgitating like ideological zombies. The owners of DISCOs and GENCOs is not the primary problem with electricity in Nigeria - and btw, the federal government presided over by Buhari still owns 40% of the equity of DISCOs and seat on the board of directors of all of the DISCOs, while the private owners (the so-called “PDP cronies”) only own 60% of each DISCO. Virtually ANYONE can own equity in electricity utility companies or any other technical companies, regardless of such owners’ technical qualifications or knowledge (or lack thereof). In the US and several advanced economies, equity of most of these companies are controlled by PE funds, VCs, pension funds, etc., not by engineers or other technical folks. Even Dangote owns the most successful cement company operating across several African nations without being an engineer. Equity owners primarily provide capital, not (necessarily) operational expertise.

Meanwhile, the GENCOs generate MORE electricity than the TCN (Transmission Company of Nigeria), owned 100% and solely operated by the FG presided over by Buhari, has the ability to transmit, leaving an average of about 2000MW of generated electricity “stranded” everyday. The primary issue with electricity in Nigeria is principally at the distribution level, where the federal government owns 40% of the DISCOs, controls regulation through NERC and has refused to allow the cost-reflective tariffs promised pre-privatization and a VITAL premise of the BUSINESS CASE for the privatization. The result is that DISCOs continue to be FORCED to sell electric power at BELOW production costs (an average of N38kw/h tariffs for electric power produced at an average cost of N58kw/h), which even your roadside Buka or Akara seller understands is not a sustainable business model. The outcome is that DISCOs are unable to fully pay GENCOs, who are unable to fully pay gas producers/suppliers and who in turn are dis-incentivized to invest in more gas production and stop flaring.

It is clear that neither Buhari nor his Apologists fully understand the BASICS of the electricity debacle (nor, tbh, of most other things). Rather, they continue to cling onto his FEUDAL AND CENTRIST impulses and sensibilities. Accordingly, they want to dismantle private enterprise and continue to expand BIG GOVERNMENT- because perhaps the only thing General Buhari really seems to enjoy the most about being president has been the power to appoint HIS PEOPLE into positions of authority.
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SportsRe: Asisat Oshoala Named African Footballer Of The Year For A Record 5th Time. by 9jaRealist: 1:57am On Jul 22, 2022
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Here’s wishing her Speedy Recovery as well…
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SportsRe: Asisat Oshoala Named African Footballer Of The Year For A Record 5th Time. by 9jaRealist: 1:55am On Jul 22, 2022
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CONGRATS SUPERZEE!! cool cool
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PoliticsRe: 2023: Court Okays Suit Seeking Tinubu Trial Over Alleged Perjury by 9jaRealist: 5:24pm On Jul 21, 2022
Fira09:
2023: Court okays suit seeking Tinubu’s trial over alleged perjury

https://www.vanguardngr.com/2022/07/2023-court-okays-suit-seeking-tinubus-trial-over-alleged-perjury/
Why fix the case for November 1?
By then, many BULLION VANS will have moved. sad

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CrimeRe: Mimi, A Popular Tiktoker Dies After Boyfriend Allegedly Used Her For Rituals by 9jaRealist: 2:51pm On Jul 21, 2022
princewarri1985:
one greedy bitch down, more to go! Na their type dey always call hard working guys broke niggaz
Such a CRUDE PRIMITIVE MISOGYNIST…
Dude, your PERSONAL SHORTCOMINGS is not women’s fault!

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CrimeRe: Mimi, A Popular Tiktoker Dies After Boyfriend Allegedly Used Her For Rituals by 9jaRealist:
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This such a DUMB story…

She was sick and was taken to the hospital…
She died at the hospital (just as likely due to incompetence).

Without even performing an autopsy…
Her corpse was taken to the village and her death proclaimed “ritual”!

And we wonder why Nigeria remains a Third World S/hole!!

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CrimeRe: Mimi, A Popular Tiktoker Dies After Boyfriend Allegedly Used Her For Rituals by 9jaRealist: 2:39pm On Jul 21, 2022
Fira09:
Explain further?
I will let him respond…
But I presume he meant the blog story is RUBBISH!

Someone fell sick and was taken to a hospital where she died…
And that means person who took her there killed her for “ritual”.

Even uneducated Nigerians can’t possibly be this BASIC! SMH

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CrimeRe: Mimi, A Popular Tiktoker Dies After Boyfriend Allegedly Used Her For Rituals by 9jaRealist: 2:33pm On Jul 21, 2022
princewarri1985:
one greedy bitch down, more to go! Na their type dey always call hard working guys broke niggaz
Skankamola:
Not only malaria or typhoid, drug abuse plenty too, all thise sudden madness are mostly drug related.
wizod:
That gender?
They are[i]completely deaf[/i].
Still they won't hear. They are very heady and not afraid of death
Sucolee:
How them take no say na her bf use am.....If she dey so hook up nko?
fablani:
She wanted to chill with the big boys.
Yes, it’s all her own fault (whatever actually killed her)
The PRIMITIVE MISOGYNY of so many Nigerians is shocking!

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