Properties › Re: DIY Construction Of My House In PH. by erico2k2(op): 7:05pm On Jan 03, 2024 |
Redesign of balcony hand rail from block to laser cut metals.
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Travel › Re: CCECC: We Have Completed Laying Of Tracks On Port Harcourt-Aba Rail Line by erico2k2(m): 6:19pm On Jan 03, 2024 |
obailala: Who lays narrow gauge rail lines in this age? Its cheaper, the People in government signed it and its a one line,see how stupid our leaders are  |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 3:31pm On Jan 03, 2024 |
lokoloko84: you are blind and delusional. I was at this point you realised you lost the argument.as U came with nothing new.. |
Jobs/Vacancies › Re: Nigerian Lady "Wows" Interviewer With Her Perfect English Speaking Skills (Vid) by erico2k2(m): 2:02pm On Jan 03, 2024 |
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Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 2:00pm On Jan 03, 2024 |
IbeOkehie: Sure, thanks. The political controversies of the past decade or so, both in the USA and Nigeria have taught me one thing - people's political opinions are a true reflection of their character. Anyone whose job is to do A and stridently tells me he's doing B, is not trustworthy person.
Your argument here is basically that CORRUPTION and what, scamming, is the problem with the electricity sector. Well that's a LIE. The ONLY problem is that the sector is completely 100% still controlled by the Federal Government of Nigeria. There's scarcity of electricity for the same reasons there's scarcity of subsidized university education and forex. There also used to be scarcity of fertilizer and cement and phone service. All for the same reasons.
Good Luck to you all. You are plainly out of touch with the reality on ground, even with the fellow I was having a debate with, we both agreed that corruption is the main problem why anything is not being done just that his goal post is different from mine. We all as Nigerians react to hardship the way it affects us. We do not have one general complaint perception. We have everything to make us 100% efficient in the power sector, the only thing putting square plugs in our round hole is corruption and this is nationally accepted, where your narrative is coming bits any imagination of mine.. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 1:35pm On Jan 03, 2024 |
dfrost: 🤣😂 Tell your Mrs. But for ICAN, I still give them a big kudos honestly. They are doing well. yep, they been about for ages. Them lot on that list should follow. Suit and do one. ahahah |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 1:29pm On Jan 03, 2024*. Modified: 2:00pm On Jan 03, 2024 |
IbeOkehie: I used to respect your commentary a lot, but you're giving me pause.
True story - back in 2014, I ended a very good friendship. The guy was a petrol trader for Oando in Nigeria. As in, his job was to source and make deals with refineries abroad and buy petrol and import on behalf of Oando.
Our friendship ended because we had an argument over subsidy. He claimed that fuel subsidy doesn't exist in Nigeria. The thing came to a head at a party. We almost came to blows. I even went to a computer and printed out Oando's own official Earning Report which stated that government paid them subsidy of this or that much. He still said it's a lie.
Whenever I meet a Nigerian lawyer, the first thing I do is bring up the FACT that nobody owns land in Nigeria. Every single one of them will say it's a lie, that individuals can own land.
I've even had an MBA graduate in Nigeria who didn't know the meaning of VAT.
Businessman Peter Obi tells me "the problem in Nigeria is that the market is too free".
Nigerian fuel subsidy started in 1973. Muhammadu Buhari was Petroleum Minister or NNPC Chairman around 1976 and even as President in 1984 negotiated fuel subsidy with the IMF. Then in 2014, he starts shouting "there is nothing like subsidy".
Nobody knows everything. Nobody is God. But the White People that gave us the internet did a great thing. It is there for knowledge. Reasonable people of average intellect should be able to identify good sources of info, understand analysis and make good conclusions a lot of the time. Especially on things that are actually fairly clear.
The way Nigerian University graduates lack factual knowledge and develop and hold on to blatantly wrong beliefs is frightening. To me at least, it's a good sign that the country is going nowhere good.
That's all I have to say. Your commentary is WRONG.
Good Luck to Nigeria. At the End you manage to say nothing or add value to the ongoing conversation and here you are rubbishing people who dare to engage in and enlightening exercise. The guy I am arguing with has no problem with me, it is healthy to engage in such .My Grand Dad always say Outta nonsense you get sense. Ending a relationship with a close friend of yours cos of such arguments is childish and stupeed on both ur accounts. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 1:22pm On Jan 03, 2024 |
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Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 1:09pm On Jan 03, 2024 |
Decentlyproud: Honestly,seeing some comments above make me wonder.
One of the effects of this is that licensing or subscription or exam fee would be increased by these bodies. Well, are professional bodies not optional? must you join? |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 1:08pm On Jan 03, 2024 |
nairalanda1: Well, legal aid does not register or regulate the profession of law in the country.
Hence it won't be considered for defunding under the report
Anyways, good morning. I am not in the mood for circular arguments today.  Neither do i, however Legal Aid is not an office or an Entity, its just a term used to qualify monies paid to any lawyer to stand in court for those who cannot pay for one. The real question is, what ministry finances this aid Answer, Ministry of Justice? |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 1:06pm On Jan 03, 2024 |
lokoloko84: Go and check the list again and stop parroting. I have just checked, they are Regulated by the NMA(Nigeria Medical Association) so the FG was right scrap funding for them too |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 1:01pm On Jan 03, 2024 |
dfrost: Okay, I understand you but then if government provides funding, will they publish the financial statements?
We act anyhow in this part of the world. Maybe, we do a case by case basis. Look at Legal aid, have you know FG to provide lawyer to anyone to go to court in NIgeria personally? I bet you the aid money runs into billions. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 12:59pm On Jan 03, 2024 |
lokoloko84: You are the delusional one. Imagine stopping medical councils from receiving funding from the government. Most of you are myopic. WHy are you locked up in this way and you are even calling people miopic. Medical and Dental council of Nigeria is a regulatory Body, they are not a professional body so this news has nothing to do with them no one is shutting them down, how is this hard for you to understand and comprehend  |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 12:40pm On Jan 03, 2024 |
lokoloko84: I am looking at things based on my discipline. Role of NAFDAC is limited in regulating drugs and consumables. Do you know the roles professional bodies like MDCN and PCN play in regulating their profession? Okay. Now this is your delusions. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 12:38pm On Jan 03, 2024 |
lokoloko84: That is your delusions. Like I typed earlier,good for the professional bodies but the public will bear the brunt at the end of the day. We shall be here. You still do not get it,dfrost gave a clear explanation of what a professional body is and a regulatory body. FG is stopping funding for Professional bodies not Regulatory bodies, get it right! |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 12:22pm On Jan 03, 2024 |
dfrost: You seem learned but then you use invectives to pass your message.
I for one support this move. The memo is for professional bodies, not regulatory.
Professional body = Computer Professionals (Registration Council) of Nigeria (CPN)
Regulatory body = NAFDAC
I belong to 4 professional bodies (2 local, 2 international) and honestly the local bodies have not helped me in any way. Innovation = 0. Oh great someone who has a working brain here, kudos. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 12:21pm On Jan 03, 2024 |
nairalanda1: Legal aid is not a professional body..ie professional body that issues licences for practicing the profession they are organised to regulate.
It's a different type of body, but then again, gofment might look into it. You again, I will repeat what I said to you last time, If you do not know the meaning of something ask and you would be explained to and you can then be well informed to make a better argument amongst your peers. Look how you just embarrassed yourself right now. For the benefit for others who want to learn, Definition: Legal aid involves providing assistance to people who lack the financial means to hire a lawyer or access the court system. It aims to uphold equality before the law, the right to counsel, and the right to a fair trial My friend up there is talking bout regulate and licence. I hope from this brief explanation you can now understand why I said scraap legal aid untill such time when it can be well applied. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 12:09pm On Jan 03, 2024 |
lokoloko84: you don't know what you are talking about. Do you know the roles these professional bodies play in Nigeria. Take PCN for example,that body regulate pharmacy schools,the number of students to be admitted in pharmacy schools, license of pharmacists after graduation with yearly fees to continue to practice legally.This body also license pharmaceutical companies, community pharmacies, drug distribution, control and sales of drugs and consumables generally. These are just a few roles, it plays Mind you the number of persons working in this council is not even enough to work effectively. What will the council do? Increase fees across board to work effectively with the pharmacists having greater control of their profession. Let me see how the government will direct NMA on the type of lecturers who will work in medical schools or the number of students to be admitted yearly in these schools. Expect high costs of medical services in this country in the next few years. I can't really say much about other sectors involved. ALl these long epistles you are writing are baseless, I only responded to the bit where you say NGO in the west are funded by Government the answer is no.if they have a project they get funded with a GRANT, they do not have yearly budget from the government. Anything the requires approval by law would be charged by them.So things like NUT funded by the FG is legit right? even though they charge teachers monthly? |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 11:44am On Jan 03, 2024 |
nairalanda1: Okay, here is the full list
A. Those whose funding would be stopped by December 2024
*[b]Nigerian Press Council *Advertising Regulatory Council Of Nigeria (ARCON) *Veterinary Council Of Nigeria *Nigerian Institute Of Soil Science (NISS) Hqtrs *Agricultural Research Council Of Nigeria *Financial Reporting Council Of Nigeria *Council For The Regulation Of Freight Forwarding In Nigeria *Council Of Nigerian Mining Engineers And Geosciences *Survey Council Of Nigeria *Council For The Regulation Of Engineering In Nigeria (COREN) *Legal Aid Council – To Remain On Full Treasury Funding *Teachers Registration Council Of Nigeria *Computer Registration Council Of Nigeria *Librarians Registration Council Of Nigeria *Radiographers Registration Board *Health Records Registration Board *Optometrist And Dispensing Opticians Boar *Institute Of Public Analysts Of Nigeria *Institute Of Forensics Science Laboratory Oshodi *Institute Of Chartered Chemist Of Nigeria *Nursing And Midwifery Council *Pharmacist Council Of Nigeria Council *Medical And Dental Council Of Nigeria *Medical Lab. Science Council Of Nigeria, Yaba *Community Health Practitioners Registration Board *Medical Rehabilitation Therapy Board *Dental Technologist Registration Board *Environmental Health Registration Council Of Nigeria *Mass Literacy Council – “Discontinue Budget Funding. To Revert To A Department In The Federal Ministry Of Education Repeal Establishment Act. *National Council On Climate Change – Discontinue Budget Funding. Relocate To Federal Ministry Of Environment. To Exit Budget Funding After 31st December, 2024[/b]
B. Those whose funding would be stopped by December 2026
*National Council Of Arts And Culture – Discontinue Budget Funding W.E.F 2025. Federal Ministry Of Information And Culture To Rationalize The Multiplicity Of Agencies Under The Ministry *Nigerian Council Of Food Science And Technology – “Discontinue Budget Funding After 31stDecember, 2026.” *Environmental Health Officer’s Tutors-Ibadan – “It Is A School, To Remain On Treasury Funding. *Council Of Legal Education – To Remain On Full Treasury Funding Legal aid should be scrapped too until such time they actualy provide baristers to defend the not to do well. |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 11:42am On Jan 03, 2024*. Modified: 3:45am On Jan 06, 2024 |
lokoloko84: Nigerians are daft. Look at them supporting rubbish. How can you defund regulatory agencies whose role is to regulate professional bodies to achieve a sane environment within critical sectors of the economy. Even developed countries have so many regulatory agencies which not only create jobs but also create effective improvement among the sectors being controlled by these professionals bodies. Imagine saying health professional bodies will not be funded by the state and yet,the government will want to expert control on how the health sector will be run effectively. Okay! Stop talking outta ur backside, I live in a develop country and the government do not fund pro bodies, they survive by donations and thier real JOB |
Politics › Re: FG Excludes 26 Professional Bodies From 2024 Budgetary Allocations by erico2k2(m): 11:40am On Jan 03, 2024 |
HeatSeeker: The Federal Government has excluded 26 professional bodies and councils of agencies from its budgetary allocations for the year 2024.
This decision is aimed at achieving a cost-saving measure, with the government targeting a savings of N27.72 billion in the 2024 budget, according to a document published on the website of the Budget Office of the Federation.
The Director-General of the Budget Office of the Federation, Ben Akabueze, had earlier announced the discontinuation of budgetary allocations to professional bodies and councils, effective December 31, 2023.
This decision is now being implemented in the 2024 budget, reflecting the government’s commitment to fiscal responsibility.
The formal communication of this decision was conveyed through a letter dated June 26, 2023, marked DG/BDT/GEN. CORR/2016/XII/3067.
The letter was specifically addressed to the Registrar of the Nigerian Council of Food Science and Technology, an agency under the Federal Ministry of Science, Technology, and Innovation.
This move is part of broader efforts by the government to streamline budgetary allocations and enhance financial discipline.
The exclusion of these professional bodies is expected to contribute to more efficient resource management and allocation across government agencies and initiatives.
Professional bodies to self-fund N27.72 billion budget in 2024
The letter titled “Discontinuation of Funding of Professional Bodies and Councils From 2024 Budget, In Line With The Decisions Of The Presidential Committee On Salaries,” explicitly outlines that the affected institutions are now considered self-funded organizations. Consequently, they will be entirely responsible for covering their personnel, overhead, and capital expenditures going forward.
This strategic shift aligns with the recommendations of the Presidential Committee on Salaries, emphasizing a move toward greater financial autonomy for these entities.
The letter partly read:
“I wish to inform you that, the Presidential Committee on Salaries, at its 13th meeting, approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective December 31, 2023. “The purpose of this letter, therefore, is to inform you that, in compliance with PCS’s directive, this Office will no longer make: budgetary provisions to your Institution with effect from the above-stated date, and you will be regarded as a self-funded organisation. “For the avoidance of doubt, you will be required, effective December 31, 2023, to be fully responsible for your personnel, overhead and capital expenditures. The request for exemption by the council may have been granted.”
More Insights
The recent suspension of budgetary allocations for 26 professional bodies and councils by the Federal Government is poised to reshape their financial dynamics.
Traditionally reliant on government funds, these entities, spanning ministries such as Trade and Investment, Information and Communication, Agriculture and Rural Development, Transport, Mines and Steel, Justice, Works and Housing, as well as Environment, will now need to pivot towards alternative revenue streams.
The affected bodies include significant entities like the Advertising Regulatory Council of Nigeria, the Council for Registered Engineers of Nigeria, the Nursing and Midwifery Council, and the Optometrist and Dispensing Opticians Board of Nigeria.
Levies such as registration fees, licensing fees, renewal fees, examination fees, and membership fees may emerge as primary funding sources in the absence of government budgetary support.
This shift marks a significant transition toward financial self-sufficiency for these organizations.
https://nairametrics.com/2024/01/01/fg-excludes-26-professional-bodies-from-2024-budgetary-allocations/ very good.They should fund themselves by themselves |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 1:40pm On Jan 02, 2024 |
Gboss247: TCN is owned by the federal government as a nationalized (subsidized, loss-making) organization to make electricity cheaper for Nigerians. How does the TCN subsidise electricity?cos from waht I know, they have no monitory function, they are the vehicle to carry power to the DIscos who buy and selll power to end user |
Jobs/Vacancies › Re: Should I Keep My Job Or Travel To The UK by erico2k2(m): 1:06pm On Jan 02, 2024 |
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Jobs/Vacancies › Re: Should I Keep My Job Or Travel To The UK by erico2k2(m): 1:04pm On Jan 02, 2024 |
mistacoco2: Hello guys,
For some days now I have been on a serious dilemma whether to resign from my federal government job that pays me above N200k for my current position and migrate to the UK or stay in naija and set up a business to augment my salary. I will be 34 years next year, I feel traveling to the uk for studies next year September will delay my chances of getting married, as I have planned not exceeding 34 years without getting married.
I belong to the school of thought that believes can make it in Nigeria despite all odds. However, considering the economic realities of the country, I have recently contemplating of japa and maybe get a Nigerian lady for marriage after my studies.
Please I earnestly need matured advice from you guys to know how to start the coming year. Bross E be like say u na village people dey temper with your Wifi,Japa like yesterday right now. N200k ke when you need N30m to build and average house and rising |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 12:56pm On Jan 02, 2024 |
visaclick: nah lie , big one. Go to ibeju lekki they do not have light at all like months will go without light meanwhile the few estates inside that can pay extra for electricity do have light how do you explain that. Fueling stations are the most booming business around there and engine oil sellers are all smiling to the bank. You think all that happened by coincidence? Also ask him if ibeju lekki resident are not hit with bills at lease 25k for those on no prepaid metres  |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 12:55pm On Jan 02, 2024 |
happney65: Thank you o.
Wait sef, Is not investing in power infrastructure a part of their contract when they signed the yeye contract they signed under GEJ? Or that should be the perogative of TCN or who? Cos I can't see any new infrastructure they invested in.
Na customers dey buy transformers, etc. For a property that isn't their own technically.. 
They took over old Nepa offices and it became theirs. Did MTN take over Nitel offices? 
As in,the other day when I was talking about government unbundling the sector completely and not the yeye they did 10years ago,some people came for me.
Electricity that is already a basic human right I Europe America and most parts of Africa. Countries that are not as rich as Nigeria,he reach our turn we turn it into rocket science
When they are ready to do the very right thing,they should let us know. Until then,they can keep on playing Brother I have said it B4, the only way to force the hands of these blood suckers is to formulate a policy that ties them to invest, for example if I was in charge I would pass it into last that I give all Discos one year to i stall Pre paid Meters, after then it would be illegal to collect estimated bills, see if they all do not start thinking out of the box. @ Gboss247. that is the kind of force I meant |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 12:52pm On Jan 02, 2024 |
Gboss247: [/b] Forcing Discos is invest is a sign of cluelessness because you don't force businessmen to invest in their businesses for grow. The federal government is the one that needs to forced itself and invest in TCN grid capacity and FG owning stakes in Gencos is another irrelevant move. The Gencos generates 13,000MW while TCN transmits 7,000MW to Discos for distribution. GEJ privatized generation and distribution for profits making and left transmission for loss making serving as a bottleneck in the power sector. You say the TCM are running at a loss, please who owns the TCN? |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 11:48am On Jan 02, 2024 |
Gboss247: The transmission sector handled by FG still remains the bottleneck in the power industry, then TCN capacity is 7,100MW for a generation of 13,000MW and it is what is transmitted that can be distributed. Good one I agree with you 100%, this is why I believe the TCM and DISCos should have been one entity, so they get involved and put their money where their mouth is. |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 11:45am On Jan 02, 2024 |
nairalanda1: And in return, read the PwC report, and you would understand why
It's called solving the liquidity crunch in the power sector.
I freely admit I don't know everything, but I know that....profits must be made for a business to run well.
Good morning again. Enjoy your day.
(FIN). Profits without adding value is SCAM |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 11:38am On Jan 02, 2024 |
nairalanda1: No, they are not. If they were, they won't be declaring force maejure.
I suggest you read the PwC report on the power sector. But then again, knowing that you want cheap power really, you won't read it.
Good morning.  You have no idea have you? check my profile very well, I am a fluid Engineer and has worked extensively in the Nigeria power sector based in the Uk but go round the world with ABBA, I have done stuff in Sapele ,Ughelli, Benin etcLet me tell you, the biggest scam is in the power sector not NNPC, the quicker you guys realize this the quicker you come to up to date awareness or else Nigerians are fvct literally. Read this https://businessday.ng/lead-story/article/discos-plan-to-buy-power-from-gencos-hits-hurdles/Electricity sector operators are negotiating bilateral contracts to enable power purchase agreements in the contract market phase set to begin in July, and parties to these negotiations tell BusinessDay that there are knotty issues. Some of the highly indebted distribution companies (DisCos) have not made adequate investments in their networks including installing meters in their substations to capture the amount of electricity they receive. Also, the Transmission Company of Nigeria (TCN) lacks the capacity to wheel all the contracted power, making agreements difficult to reach. The Nigerian Electricity Regulatory Commission had planned to move the electricity market into a full Transitional Electricity Market (TEM) Phase, which is the intermediary step between an integrated total utility and a fully competitive market structure with more varied market players, structured to bring competition into the market. Read also: DisCos report N188 bn revenue in Q2 2022, lowest in four quarters After TEM, a multiple buyer model is supposed to follow and this allows customers and DisCos to buy electricity through bilateral contracts with the bulk trader, in addition to buying directly from generation companies (GenCos) and independent power producers. In the electricity value chain, the government is the wholesaler. GenCos are producers, while DisCos are retailers. Bilateral arrangements are meant to remove the wholesalers in the value chain and allow the retailers and producers to interact directly and freely, analysts say. This was supposed to have happened in July 2022 but the market was not ready. Now it seemed ready to kick off, with implications for customers, both residential and industrial. “This will translate to consumers having more hours of electricity available, which might impact the price they are currently paying. The cost of a kilowatt per hour will increase,” said Habu Sadik, a financial analyst and energy sector expert. Sadik said the bilateral stage will be brutal and effective. “A DisCo can use any method possible to recover their money because failure to do that will put them out of business.” It would also open up the sector as DisCos would find value in delivering better supply to customers with the ability to pay including estates and companies. Three DisCos – Eko Electricity Distribution Company, Ikeja Electric, and Abuja Electricity Distribution Company – have recently been instructed by NERC, the regulator, regarding the implementation of bilateral contracts with GenCos. These negotiations are contending with inefficiencies that have been glossed over in the electricity sector for a long time, according to some parties who did not want to be mentioned as they are not authorised to disclose the negotiations. The existing contracts in the Nigerian energy supply industry see the Nigerian Bulk Electricity Trading Plc (NBET), the manager and administrator of the electricity pool in the industry, buy energy and capacity from 26 generation plants owned by the respective GenCos that have contracts with NBET. Some GenCos have power purchase agreements; others have interim agreements executed pending formalisation on power purchase agreements (PPAs). The electricity purchased by NBET through PPAs are resold to DisCos through vesting contracts and transported on a physical network that forms the electricity value chain. Other contractual arrangements include gas supply agreements, gas transportation agreements, and grid connection agreements. One key challenge is developing a mechanism for the conversion of vesting contracts into bilateral agreements between GenCos and DisCos. The process for such migration or procurement is a crucial factor that needs to be managed within such a framework, experts say. For these contracts to work and the market to be liquid, DisCos must be credible off-takers and other parties must be credit-worthy. This has not been the case in the sector. Market collections by DisCos have been largely inefficient. The total revenue collected by all DisCos in the fourth quarter of 2022 was N243.65 billion out of N332.28 billion billed to customers, translating into a collection efficiency of 73.33, according to the regulator’s latest report. Under the bilateral agreement, DisCos have to fully collect for the value of the energy it received, so a sticking point is who settles the differential since NBET would no longer provide a guarantee. In the interim, the Nigerian government has set a N5 billion Gas Stabilisation Fund to guarantee gas supplies to the power sector but it’s yet to make a difference. GenCos have been unable to ramp up generation as gas companies demand upfront payment due to an inability to settle previous debts. Another sticking point is acceptable tariffs that would guarantee commercial returns. NERC is required to recognise any bilateral rates that are agreed upon when a DisCo chooses to purchase electricity from a GenCo or an independent power producer, provided that the procurement process is conducted prudently, even when the agreed prices are higher than the MYTO benchmark price for generation. The challenge is some operators cannot justify the basis for the tariff they are proposing. According to MYTO rules, operators must show evidence of investment into the network before making claims and the regulator must be satisfied that the costs were indeed inputs towards the service. In this vein, the NERC would not recognise N50 million executive car purchase as part of expenses that would be factored into tariff computation. Some of the inefficiencies covered up because the NBET was around are now getting enough sunlight and causing disagreements. The TCN, for example, claims to have the capacity to wheel over 7,000MW of power generated daily but in reality cannot wheel more than 4,500MW without the grid collapsing and would be required to repay other operators if it failed to wheel all the energy generated. After the Partial Activation exercise, which was overseen by NERC and the NBET with the goal that at least 5000MW of power was generated, paid for in full, and successfully delivered to consumers daily with effect from July 1, 2022, failed, the bilateral power contract has come into play. One key benefit of this phase, according to energy lawyers at Oake Legal, is that it will enshrine market discipline among the industry operators through the mechanism of liquidated damages for breach of service level obligations. |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 11:28am On Jan 02, 2024 |
nairalanda1: So, why are you arguing against my post? Why are you concerned about how much discos spend or otherwise?
Good morning. Cos they are tieves, the are the real problems of Nigerians, just that people are not wise enough to notice, they are the real criminals when it comes to power end users. 1 They are the ones who return power back to Gencos but still deliver estimated bills to end users and pocket eh money with no power served 2 They are the ones sitting on Prepaid metres to ensure we continue with this estimated bill regime 3 Even when the Fg said Prepaid meter was free, they racket it and sell for up to N80k a time for a single-phase metre. 4 They are same group of people who will conive with consumers to by pass electricity and go round to get thier other mates to come and investigate and arrest or fine the culprit(I have witnessed this 1st hand) you want more  ? |
Politics › Re: Power Supply Fails To Improve 10 Years After Privatization by erico2k2(m): 11:21am On Jan 02, 2024 |
nairalanda1: In other words, you want cheap electricity. IS there anything like cheap Electricity/power in Nigeria?That word does not remotly exist, even people living in the remotly enclave caves in Nigeria get to pay too much for power. Try and run your home with your own power for 24 hours and see how much it cost.Do you know that 70% of our telecom cost is due to them providing thier own power? NB the average Nigerian home or family in a 2bed flat will pay N25k for electricity when there is power, the back it up with petrol at least N40k a month. Now the N25k a month they pay to Discos is for nothing less than 40% of power time, spot the scam yet? |