₦airaland Forum

He has started again. Killed 100 boko boys on paper while in reality, another 500 have joined the sect. I think the problem with APC is that they stayed too long in opposition that they are finding it hard to change their mentality to readjust to the realities that governance demands.

Both APC and PDP/ Atiku and Buhari, all of you na SCAM!

Everytime "I will...I will...". The few "I have" in his statements are always false e.g. "We have technically defeated boko haram". If not that power intoxicates, Buhari's retirement isn't something that we should subject to debate. Alas...

Too late bro, seems Jonathan did that already.

Who no sabi that one before?

The drama king himself.

Sissy NLC, just keep quiet and stop disturbing the air waves. NLC talks far more than it acts. Cowards!

See LASTMA PRO talking like a sissy. You're not even talking about arresting and charging them accordingly. Smh!

Opharhe:
Just like that? I just hope we're not returning to the days of political assassinations.

My thoughts exactly.

This is a bad omen, anywhere. Someone who was once responsible for maintaining the territorial integrity your country killed like that.

Lol the fear of Sowore

Sanusi was right: "Oil importation is a business in which any idiot can make money. Nigeria's "subsidy" is one of a kind, subsidizing consumption against production".

You'd be shocked to know that most of these oil vessels only mark attendance in Nigeria just so they can claim subsidy after which they are illegally diverted to neighboring countries where petrol price per litre is much higher. Or is it not the same country where amidst fuel crisis, someone at the ports would still sign documents claiming 30 vessels delivered oil in a single day?

It's hard to disprove that Nigeria is a failed experiment.

yen yen yen. It's funny how past fuel scarcity crisis (especially during the festive period) happened just this way: Oil marketers threaten to go on strike, government disclaims and assures of supply, strike eventually happens and before you know it, there's scarcity everywhere, giving Nigerians a horrible experience. I remember that poor cab driver whose video went viral sometime ago asking that all Nigerians (himself included) be dead so we'd start all over again, after queuing up for several days at the fueling station. Lol! Man said he already spent the money intended for fuel on feeding himself right on the queue. But that was how many years ago and we are till here today?

Nigerians have suffered!

ASUU- on stirke
ASUP- to begin strike on Wednesday
Oil marketers- on strike
Light nko? E no dey
Fuel to put for gen- E no dey
Police brutality- that one full ground
Boko haram killings- constant
Salary to enjoy christmas- Never!

Pls what are Nigerians enjoying exactly? Oh God, Nigerians are merely existing and not living, Nigerians have suffered!

Well

Eyitayo29:
I am really scared. What's your take on it?

My take is that you have passed. Whilst I understand your concern, worrying now is a waste of energy.

Lol fuel scarcity during the year end festive period has become a norm. I have been anticipating this.

calabaman:
Is it just me, or is that a counting machine in the second picture

I thought I was the only one that noticed that. Things dey happen o.

Eyitayo29:
Hi. Please who did foundations for this November 2018 diet o?
I am really scared about MI.
The thing I attempted all the 4 questions including the objectives.. But I am still not sure of myself

How does ICAN mark especially with respect to questions that have to deal with giving their answers in words?

Thank you.

You will pass.

How can you generate 7,000MW and still transmit same 7,000MW. What happened to technical losses? Smh!

RTSC:
Capturing our taxable data and reducing does not necessarily have to mutually exclusive.

Of course, you have to capture the entire taxable network to know who and who is enjoying it. It is common sense.

Improving power supply and reducing taxes is also not mutually exclusive.
Both of them would create their own positive impact on the economy.

China has a good power supply, and low tax regime.
It is no wonder why business are leaving America to go there.
Trumps want to bring those businesses back by doing the same thing - reducing taxes significantly.

The most paramount question is will atiku be able to get enough money for investment in federal infrastructure like electricity and roads, while taxes are been reduced.
If the answer is yes, then it is a good policy.

The latter part of your comment sums it up. The answer cannot be yes when over 70% of government expenditure is recurrent and capital projects struggle for the paltry 30%. When your senators snd governors still earn fat for virtually doing nothing. Let’s look at the case of Ganduje receiving kick backs, where does the incidence of such bribes really fall? Still on the tax payers because when the contractor comes up with the estimated cost of executing a project, he adds a margin which is the governor’s bribe, presents the budget to the governor and the governor approves that money be taking from tax payers’ sweat to pay for such projects. China and US can afford to all you said because they have achieved an appreciable level of stability. Available infrastructure, no leakages and so on. All these are not present in Nigeria.

And you say improving power sector and reducing taxes are not mutually exclusive? Lol! An estimated 900 billion dollars is needed to fix the power sector in 30 years. Pls where will that money come from? From the oil that you have overdepended on with it’s price ever fluctuating? Or borrow from China so that they can recolonize us as they are doing to Zambia and other African countries now?

LordAdam16:
All this time you're using to type meaningless trash, you'd have used it to effectively shared your reasons (if you ever had any).

But since your head is empty and propaganda is all you know, you just keep bleating like a doe on heat.

-Lord

Okay . But not as empty as your own head or that of the old rogues of Buhari or Atiku that you support. Olodo wey no fit read 3 paragraphs wan know why power sector no dey work. And I’m sure you don’t even have a PVC yet since you’re under 18. I really shouldn’t be replying you. Not anymore.

You are hereby ignored!

RTSC:
How are you making the poor poorer by reducing taxes across board?

The only way to reduce poverty is to create lots of jobs, and improve our industrial capacity.

And the only way to encourage those two things to happen is to create an incentive by reducing taxes.

It is private businesses that feed the poor, not the FG taxes.

My argument of making the poor poorer refers to some people’s argument to increase taxes.
Truth is, your tax cut cannot be effective when you don’t have a comprehensive tax system. 40 million taxable incomes not being under your tax net means whether you give a tax cut or not, those ones have been on a self-granted tax holiday. So your tax policies do not even affect them in the first place. Capture all taxable incomes first before going ahead with a tax cut and that’s how everyone can benefit and feel the impact of such policies.

Two, fixing the power sector is even more beneficial to businesses than any tax cut. The likes of Dunlop and other over 100 factories did not move out of Nigeria because they wanted a tax cut but because of inadequacies of power supply.

Three, in a system where you have enormous leakages like ours, whatever policies you pursue wouldn’t mean much. Cut taxes and the little you collect would still be embezzled.

LordAdam16:
Mr Man you have nothing to say. That's the hallmark of being a propagandist. You just drop a one-liner and can't back it up with a detailed exposition.

That is so 2015. Wake up. No one is falling for that anymore.

Explain why we can't achieve it or sh*t your trap.

-Lord

Okay sir. Infact, it will be achieved tomorrow morning. Are you sure you don’t want us to double up to 50, 000MW? Yeye dey smell. Yes, no one is falling for it anymore (except you), sadly.

benuejosh:
Even the UK survive majorly on Taxes. What then will be the alternative source of revenue Generation? Given that taxes are a major source of revenue.

Lol maybe oil since it seems Nigeria’s destiny has been premised on it. We have one of the lowest Value Added Tax in the world at 5%. Maybe Atiku should be more precise about the taxes he would cut. Maybe income or withholding taxes.

I think it’s important we look inwards. About 40% taxable incomes are still uncaptured in the tax net. Solve this first and see how you’d boost your tax revenue, then tax cut can follow. Taxation of luxuries is also one tax policy that is capable of augmenting our tax revenue if appropriately administered. Let’s stop making the poor poorer.

LordAdam16:
Three long paragraphs, and you can't answer a simple question.

I asked "why is it not realistic to have 20,000MW by 2025"?

Answer in clear, layman terms.

-Lord

Lol the propagandist comment reeked so much of ignorance, I needed to quickly trash it. And, you call that three long paragraphs? Apparently, you wouldn’t be able to read the thread I referred you to for answers. Typing all that again may only amount to a waste of energy.

LordAdam16:
He has not been able to state exactly why 20,000 MW by 2025 is not feasible. Can you help your fellow propagandist?

Time for one line rejoinders are in the past. Now, statements MUST be convincingly detailed.

-Lord

Lol it’s really pathetic that you’re always quick label whoever makes an attempt to critique a proposed policy a propagandist. Maybe you have to go through my previous contributions on NL to know I’m far from being one. Learn to accept objective criticisms. We failed to ask the right questions on all the fake promises of APC in 2015 and that’s why we are here today, dollar exchanging to one naira in our dreams and enjoying the power sector Fashola promised to fix in 6 months. I do not think it’s wise to repeat same.

To the topic, it’s a power sector issue and it’s a whole lot. I have said a lot about it too and even most recently, on this thread: https://www.nairaland.com/4816247/protest-against-bedc-benin-native/1

You may want to read through. For those who know much about this sector, you’d know that the power sector is at best on life support at the moment.

rottennaija:
20000mw of electricity by 2025 is not realistic in Nigeria. Anyone who promises that is lying

Gbam!

GoodFaith:
80% of Nigerian are willing to pay for the service at the price
Can discos provide the service No
why the staff are all corrupt one factor
second factor nigerians are stealing power and damaging discos infrastructure

DISCOs can actually provide the service. It’s business. If they make tariffs cost reflective, what would be the fate of someone earning the current minimum wage of 18k and he gets a bill more than this wage? Well, DISCOs will bill at that tariff but who will pay those bills? Lol their debt will only be increasing.

Demrich:
in dat case they should give us prepay meters, they are fraudulent.

Technically, it’s your government that is owing you prepaid metres, not DISCOs.

nanizle:
My question is this. Why didn't does that bought the discos do proper due diligence?

Assuming they did and realized the extent of the rot and the amount of money they needed to fix things, they could have declined to buy it and let the government continue running it. Things may have turned out differently.

Is it possible that these discos were just sold off to government officials, their friends or cronies? Thinking that it's like any other business that would automatically keep making them billions?

Valid question. DISCOs were not given the chance to carry out due diligence as they should. Let me remind you that the sector is HIGHLY unionized. So many times prior to take over that the bidders went to the field for actual assessment of the assets, unions would come to disrupt in a bid to protest privatization and that all their demands as to staff welfare were met before having any discussion on privatization. This was the usual practice. Government had to give an assurance that the assets were okay and promised an intervention fund as a form of support for the bad ones. Till date, one naira of the fund has not been paid to the DISCOs. And for the money government loaned to DISCOs through CBN, part of the principal plus interest is automatically deducted monthly from the DISCOs’ accounts. No story, no negotiation, no excuses.

Even the government knows it currently lacks the wherewithal to run the sector. Few months ago, one of the MD of the DISCOs said it’s owners are willing to leave now. He stated they made about 82 million dollars investment in the DISCO already and they were ready to leave right there for just 72 million dollars, 10 million short. The DISCOs never fail to call out the government, let government do same to the DISCOs with facts and figures. I’m not saying the DISCOs are saints, neither is the government nor the people. We all have our roles to play.

Preator:
Hmm, another disco staff spotted. Actually, you can't pay income tax if you are making losses. However they still remit a lot of taxes to government. Withholding tax, VAT, minimum tax(payable even if u are making losses) and PAYE

Lol this isn’t about been a DISCO staff really. And of course, a company making a loss cannot pay CIT. If you’re well informed of happenings in the power sector, thinking of a solution can make one almost run mad. It’s high time we had an extensive discussion on the way forward.

nanizle:
Let me give you an example.

TCN says 'Disco A' should take 700MW and distribute/sell to customers.

'Disco A' says no and takes only 300MW (load rejection), intentionally leaving many other customers without power.

One common ridiculous and unacceptable reason for this load rejection is 'they can't collect the bill for 700MW' from customers. Same discos that intentionally won't give customers prepaid meters.

Discos are not ready to do real electricity business in Nigeria. They are just profiting from a broken system via estimated billing with apparently no intention to improve their network and capacity.

Same DISCOs are entering into bilateral agreements with GENCOs for more supply of energy. But let’s do a quick analysis of the value chain. Gencos will buy gas for generating energy at the prevailing exchange rate and sell at the same rate plus their margin (profit). No story, no government intervention, business done strictly at arm’s length! Discos buy, but at the point of selling this same energy to the people, government comes in to say no, there is a tariff/price you should sell and this tariff is actually pegged at 190 naira per dollar. Very unrealistic! So by basic arithmetic, DISCOs are suffering a shortfall of roughly 190 naira.

Imagine a DISCO having a pre take-over outstanding of about 80 billion and most of these outstandings are being owed by government ministries, agencies and parastatals and there’s virtually nothing you can do. You cannot cut them off supply, you even have to make them a priority in your distribution.

For 5 years now that the sector has been privatized, DISCOs have been claiming losses, hence, not paying company oncome tax but wven the government does not have the guts to challenge them.

Ordinarily, GENCOs are not willing to supply to DISCOs save for NBET that gives them a guarantee of payment. And for all outstandings of the DISCOs to NBET, it charges interest as a penalty. But can the DISCOs charge interest on the outstanding people are owing them? Government still sets unrealistic ATC & C targets for them despite the bad facilities met on ground that translates to higher technical losses. How do you explain that equipments for the sector running into hundreds of billions of naira were imported and the government claimed it had no money to pay demurrage so they were abandoned at the ports for 10 years? And whether you use them or not, depreciation will set in.

The issue of prepaid meters is another one I don’t even want to go into. Truth is, all the stakeholders including the masses need to have a discussion on the way forward. We all have very important to play to make the sector work.