Putindbutt:

Guy, 100k is on the table. Tell me what business Onyema was into before his appointment as consultant to Kingsley Kuku on presidential amnesty programe. Airpeace was established with niger delta money.

Peace is Jonathan's wife's name.

She might also be the owner. The airline is well oiled.

blueAgent:


Zombie.
Did the telecom companies hike prices without offering reasonable services?

The Power firms would charge or send over bloated bills to power consumers even in places where light has not been seen in years.

If the government was sincere and had a working brain, they would have invested or advocated for production and mass distribution of prepaid meter, that way debts owned the GENCO AND DISCOS would be reduced and investors would be encouraged to invest, hence more power and efficiency.

I am uninterested in this Zombie/Obidient nonsense. I am non-partisan. Simply stating an opinion that you find unfavorable then makes me a zombie is churlish.

What would Obi have done differently? The government needs 250bn monthly to give power providers and does nor have it. It already owes them 2.9tr and due to this, they can't pay for gas. The sensible thing to do is to raise the price.

What would Obi have done differently? Any move he would have made would have been screwed by the opposition controlled legislature.

Obi traveled to Egypt to understudy their piwer sector. Egypt of all countries!

The government has plans over the next 5 years to provide prepaid meters, in yearly phases to clear up the backlog. So there's a plan on ground.

The problem from the getgo was that the Jonathan government botched the privatization of PHCN and the country is paying the price for it. Well connected companies bought these firms rather than qualified ones.

okeke6969:




Don't compare electricity business with telecom, it doesn't work like that.
You can not transmit electricity wirelessly.

The key issue isn't competition but investment. Billions of dollars are needed to increase energy output and upgrade creaky infrastructure. They would best respond with a deregulated price.

There's has been some liberalization in the power sector that will bring in smaller and nimble players. For instance, you no longer need government permit if you plan to generate 1MW or less of electricity for instance.

However, the big players are still needed.

Nazgul:
You're hiking tariff by over 200% when power generation is still less than 5,000 megawatts. Coupled with the frequent collapse of the national grid like an epilepsy patient.

So technically, customers on Band A would not experience any visible improvement in power supply aside paying more for it.

How Tinubu's supporters still find a way to sing his praises despite his harsh suffocating policies which even the blind can see should be added among the 7 wonders of the world.

Stop politicizing things! What would Peter Obi have done otherwise? Gas supply has been bad due to the 2.9tr the government is owing Gencos and Discos.

Increasing the price is a step in the right direction. This would enable the Gencos pay for gas. The benefits would eventually trickle down. Rome wasn't built in a day.

Racoon:
Nigerians are facing a dire economic situation as businesses across the country grapple with the challenges of unreliable power supply and skyrocketing fuel costs.Nigeria’s power supply has long been plagued by inefficiency and chronic corruption etc. Yet the constricting policies of the government is simply choking life out of the common man, SMEs and macro industries. Thereby leading to multiple shutdowns

And despite being Africa’s largest economy, Nigeria’s power generation and distribution infrastructure remain epileptic, inadequate and unreliable. In recent times, frequent blackouts and power outages amid high tariffs have become a routine part of life for businesses, disrupting production schedules, leading to losses, and making it difficult to meet consumer demands.

This is further compounded by the recent hike in the cost of petrol that is now beyond the reach of average Nigerian.They will always look at you straight up and lie blatantly without remorse. Wicked and evil people in government.

A constructive response has been given and all you can express is bitter sentiments. Government is owing the Gencos $1.2bn and the Discos 1.3tr Naira.

Can you provide a better option?

Frankly speaking, government should go further and allow the companies charge what they want. This was what revolutionized the the telecoms industry and the same would occur in the power sector as well.

socialmediaman:


You mean electricity should be for the rich only, like Cell Phones or even phones in general used to be in Nigeria?

I love this your statement!

Do you know when it stopped being for the rich only? It was when the government deregulated phone call rates. The private GSM companies could charge what they wanted.

MTN and Econet (now Airtel) both charged 50/minute while MTEL chose the people friendly price of 22/minute.

MTN and Econet invested billions' of dollars and added millions of new phone lines while MTEL silently went out of business. Two other private GSM operators joined the industry, invested billions of dollars and added millions of new lines too.

Today, call rates are probably the lowest on record. There are over a 100m lines from just 400,000 phone lines in year 2000.

The same revolution is needed in the power sector. Over $100bn is needed in adding over 80,000mw to the national grid and upgrading the creaky infrastructure currently in place.

Nigerian residential users will have to be prudent with power use. They aren't Americans. Use fans rather than air conditioners. Turn your fridge on 12 hours a days rather than 24.

socialmediaman:


The 200K could will be fine if you were not paying the same amount. Now you'll be paying the same amount in utilities

I would say someone earning 700k hete is better than someone earning £2k in London. I have been in UK

The man does not know what he is saying. 200k too small.

Ashawoman82:
Oga rest, go and make ur research, why we don't have power in Naija is because of the government and cabals, there are elites that are benefiting massively from our epileptic power.. It has nothing to do with power being expensive...

Oga,
This is not a sentimental issue.

If you're not paid enough to cover your cost, it will adversely affect your ability to supply.

Nigerians prefer to believe that canals and what not are the issues than squarely face the truth.

Ashawoman82:
so what happened to the 16b $ the FG put into the power sector fir 16 years now?

There was never any $16bn. Iweala Okonji, who was the finance minister then said it was never more than $4bn.

Don't forget that OBJ paid off the country's debt with $12bn, left $20bn in the Excess Crude Account. And through his regime, the oil price never hovered above $65/barrel.

The government was the most prudent the country has ever had..

Boogyman557:
Holly Gram


EBIN PAWA ooo !!!


LITE UP my WEED in peace


WTF MAN!

So, you don't want the Gencos and Discos to recover their costs?

The government is owing the Gencos and Discos $1.2b and 1.3tr Naira respectively. Government has no money to be subsidizing power.

If you really want power, you must be ready to.pay the price for getting.

Even in Freetown, nothing is free.

Government should go further snd deregulate the price they charge. That is what revolutionized the telecom sector.

MTN and Econet charged N50/minute while MTEL charged 22/minute. Mtn and Econet pumped billions of dollars into expanding their phone network while Mtel which charged people friendly prices went out of business.

The nation needs tens of billions of dollars of investment in electricity generation but as long as government keeps fixing the price, it would scare off the MTNs and Econets of the electricity business from doing their magic.

We now enjoy cheap calling costs. The same would also happen in the power sector.

Donaldoni:
What

All the same, the subsidy has become unsustainable as result of a myriad of factors. At least we all know everything has gone up of late.

Nigerian want anything related to power for free and that's why that sector is underperforming.

Deregulated electricity pricing would revolutionize the sector and lead to massive investment in it.

The same turnaround deregulated pricing hard on the telecom sector would be re-enacted in the electricity sector.

successmatters:
Greedy old man intent on suffering his minions

We warned all of you, they will be using propaganda to report that the economy is getting better but na suffer go kill most Nigerians.

We warned you that this man is much more evil than his predecessor. He has nothing to offer, its just his turn to loot.

Tomorrow some CORNfused elements will be asking me why we the manufacturing sector are not bringing down prices of goods, na urine we dey take power our factories?

You want electricity but you don't want to pay enough for the Gencos and Discos to recover cost?

If the price being charged is not cost reflective, you won't get power. It isn't rocket science.

The federal government is owing the Gencos $1.2bn and Discos 1.3tr naira. That is why there isn't power. Government does not have money to be subsidizing piwer.

writeprof:


Nigeria has no business saying there is no GAS. NLNG and/or NGC is/are still working I believe. The Nigerian government has kept the activities of NLNG in shadows.

The federal government is owing massive debts for gas and that's why they are not supplying

socialmediaman:
For context:

This N226 naira per KPH is about 15 cents per kilowatt hour. The minimum wage in Nigeria is N30,000 monthly

North Dakota pays about 10 cents per kilowatt hour. Minimum wage in North Dakota is $7.25 per hour (N1.3 million naira monthly).

Texas pays about 15 cents per kilowatt hour. Minimum wage in Texas is $7.25 per hour (N1.3 million naira monthly).

What does American minimum wage have to do with pricing? Simply stating power should be cheaper using comparison energy prices in America is sufficient.

All those in the electricity chain must charge a cost reflective rate to cover expenses. They can't underprice because salaries are low. It does not work that way.

I too did my findings and also queried the high price.

However, I am not an expert in the industry so won't speak like one. I, however suspect that issues like creaky infrastructure, insufficient competition and so on have roles to play.

Charging cost reflective pricing is a step in the right direction. The present blackouts are due to the huge debts of $1.2b owed the gencos and N1.3tr owed the Discos by the government.

Government should go further and fully deregulate the price.

The new price is a bit high. I compared price of piwer in Houston and it's 15cents. However, the new price jumps to about 18 cents if we use the 1,250 exchange rate.

Cost of power in Texas averages 13.75cents per kilowatt hour. Houston is more expensive due to higher taxes levied on power.

However, I am not taking into considerations many factors experts in the industry would. I am sure in time with greater efficiency, there might be a reduction in price.

In addition, what is important is that the price is cost reflective. They should do the same to all users.

The primary reason why we are suffering from rolling blackouts presently is due to " gas challenges" which is Nigerian government speak for huge debts owed for gas they have bought.

These companies no dey sell again..

I dislike such interventionist policies. There'll be little to show for it in a few years time.

raskymonojendor:

It's not. That man has been in power for decades. I think he first got elected in 1996. He would be 3 decades in power by 2026, so he is doing as he wishes.

He first ascended office in 1986 or 87. He's been there forever.

JoeEeL:
Men who are cursed to suffer in this life will come here to laud this lady for doing what she's meant to ordinarily do.

They will forget to praise themselves for bringing out such money to support a woman as if she were an orphan, instead they will praise what is meant to be mundane such as investing money given to make more money: what is meant to be simple common sense.

We live in an evil world. Why not praise good conduct? U seem hard to please

Amnesty International should mind their business. Na so Boko Haram take start.

The government should redenominate the Naira. It should remove 3 zeros.

Righteousness2:
Our Condolences to the nations and families of the deceased aid workers of WCK..
May God ALMIGHTY Comfort them.

ISRAEL did its investigations as usual, discovered this time she was responsible and came out boldly to accept responsibility for its error.

That is the Hallmark of a responsible Nation.
That is the Hallmark of a nation with high standard of Morality and Fear of GOD.
That is the Hallmark of a nation that places high value on lives , Unlike the Terrorists who have zero value for the lives of even their own.

GOD Bless the State of ISRAEL Forever.

The Israelis you so much worship are not even Christians! They don't even believe that Jesus Christ was the Messiah.

Starting in 70 C.E, following the conquest of Jerusalem by the Roman's, the expulsion of the Jews from Israel had began and it was concluded in the second century C.E. For about 1,800yrs, the Jews were migratory settlers all over the world. This fulfilled the curse that would befall them if they ever abandoned true worship and no better way was that shown by murdering the Christ, the "vineyards owners son." God said he would abandon them because òf this and he did.(Matthew 23:33-43)

Jesus wailed over Jerusalem "Jerusalem, Jerusalem, the killer of the prophets and stoner of those sent forth to her. How I wanted to gather your children together under my wings the way a hen gathers her chicks under her wings but you people did not want it. Look, your house is abandoned to you." (Matthew 23:37-38) (Luke 21:20-24)

Were they not the ones that screamed "May his blood be upon us and our children."?

When some Jewish Christians felt that they were better than the Gentile Christians as it was Israel that the true God first chose through Abraham, Paul was forced to clarify matters that the promised seed wasn't the nation of Israel but rather the Christ. It was through the Christ all nations would be blessed (Galatians 3:16)

The seemingly present invincibility of Israel is irrelevant. It is what the Bible says that counts. The Devil keeps appearing as an angel of light.
Without America's military and economic support, it would wobble. America has gifted them close to $20bn worth of weapons since the start of the war. Had it not done so, it would have eaten a big hole in its budget. Wars are horrendously expensive.

They depend on modern day horses, chariots and the Egypt of our day, America to remain powerful and not on God.

For centuries, Christians saw the Jews as a cursed people for killing the Christ and were persecuted viciously in most Christian lands they sought shelter in. They suffered from repeated pogroms in Europe. A pogrom is when a majority ethnic group slaughters another like what was common in the North against Igbos.

The worst was during the World War 2 when Hitler gassed 6m of them. In Poland, 3m were killed. Only 100,000 Jews were in Poland left when the war ended in 1945. That was why they were desperate to claim Israel that if they had their own land, such evil would never beset them again.

The Jews no longer have any special relationship with God. If they want to be accepted, they should accept Christ ransom sacrifice and be saved. (John 3:16,18)

Many of the parts referring to Israel in the Bible isn't a natural Israel but a spiritual one.

Mrajipatula:
Finally diesel can drop to 500 chai e sweet me

If it's less than 800 in one month's time, throw party. Refining it here only makes little difference in price.

Many APC stalwarts are restraining themselves from cursing Buhari.

Nedum001:
I have a guy in my hood that was the first to pick money from fraud. The money wey im woman pay am that year was loud.....this acquired properties in outskirts of Lagos and was building a house in his home town which he didn't complete.....Fast forward to 2024, my don fall down to ashes....even to be able to get money to buy soap na wahala....omo, na where I fear all this quick and yahoo money ooo

I too could have made immense wealth from 419.

As far back as the the mid 90s, I have always had access to foreign names and companies. Had I provided those names, I would have been swimming in filthy money.

It is sad that the lack of strong action in time has now led to the spread of real Muslim terrorists into the Northwest. They can use their earning from mining finance their terror group.

helinues:


Are the above your real issue about Naira gaining strength as one of the operators bah?

Naira loosing to dollar una dey shout, naira gaining strength una too dey foam for mouth..

Na wah for some of you people oo

He does not like the present government. Most likely an Obi supporter.

This was definitely an inside job.

[quote author=chigator2 post=129214065][/quote]

Your write up is very partisan. You're obviously anti-Tinubu.

You have chosen to throw away the fundamentals the new government met.

The previous government and the CBN governor had been fiddling with numbers. It was so bad that some present and future revenues from crude oil sales had already been spent.

The foreign reserves were empty. There was barely $3bn in it and there was $7bn in uncleared dollar contracts. Emefiele was determined to become president to hide the dirty mess he left behind.

Tinubu has chosen to keep mum rather than expose the stwnch his predecessor left behind as they belonged to the same party.

Was the floating necessary? Yes, economists here on Nairaland support it. Though it could have been better handled, it was necessary.

Now that things are settling down, what's your beef? By the way, Charles Soludo as the then governor of the CBN introduced the sale of dollars to BDCs which prime purpose was to reduce the spread between the official rate and the parallel rate and it worked brilliantly.

Why are you so upset the market turbulence is winding down?

helinues:
USA betrayal at the last UN votes.

Mission achieved, weapons sold, money for reelection secured.

What are you talking about? America is not Nigeria.

If it is traced that money from the "sale" of weapons to Israel was used for electioneering, Joe Bidens presidency is dead.

I doubt those weapons were sold to Israel. The proper word should be gifted.

clarocuzioo:
Each time I drive past the third mainland bridge, am marveled at quality of works done by Engr. Dave Umahi an Igboman.

Fashola was super minister of works, did a lot of maintenance on that bride for years but never did the quality of job done by Engr. Dave Umahi within just 6 months.

The irony now is that anyday Dave Umahi decides to contest for President in this country, they will remind him that he is an Igboman and as such is not permitted to rule Nigeria.

I forgot Fashola is an engineer and Umahi is a lawyer

kk