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Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode - Politics (1295) - Nairaland

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Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Subsaharan: 10:47am On Jun 13, 2022
rvp2018:
The purpose of privatization is not for gov to make money. I can understand Russia type of messed up privatization but overriding reason of privatizing state own companies is to free the economy - to broaden capitalism - and that is magic that will create more companies/wealth.

Nigeria Gov should sell most of it's SOEs for one Naira....and move on. SOEs not only stymie the economy - they also become an albatross as it saddle gov with debts, guarantees and occasional bailout.

Sell nearly all SOES - and focus on being a regulator - capitalism or free market - will work the magic. If you privatize but still do not allow free market to thrive - then that is huge Russia like mess. Otherwise if Atiku bought gov SOES for cheap - but everyone is allowed to compete - soon his companies will go down - because the market economy is VERY BRUTAL.


Tinubu is a textbook capitalist.

Nigerian political parties are not ideological, it's just different gangs of the elite class hustling for power for the sake of it.

To run the country the way they feel would be best.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 10:49am On Jun 13, 2022
Those are minor issues - how it sold - and for how much - is irrelevant. This something that is choking Nigeria economy.

You should not care who get it. Most of the time whoever get it will become saddled with debts - and huge staff - and will spend years cleaning it up - court cases and name it.

What you should focus is the objective of that privatization. If for example inefficient gov refineries will allow more Dangote to invest in the sector - then Dangotes or private investors - will create more efficient refinieres.

SOEs are closes to having communism that is proven failed model.

Subsaharan:


I have no problem with this.

A lot of those assets are a liability to the state.

Like the refineries for instance(spending $ms to pay union workers for doing nothing)

But it should be done in a proper manner where all investors are given a level playing field and the best emerges.

If precedence is anything to go by, it will not be favourable to Atiku.

3 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 10:51am On Jun 13, 2022
The he is the best. Electricity issues will for example be sorted by dealing with supply/distribution and generation companies issues. Those are business that are inefficient - and you need a business mind to figured it out.

The same way Dr. Ngozi Okonjo-Iweala fixed Nigeria banking - and now it's only sector in Nigeria thriving - is what is required in other sectors.

Subsaharan:


Tinubu is a textbook capitalist.

Nigerian political parties are not ideological, it's just different gangs of the elite class hustling for power for the sake of it.

To run the country the way they feel would be best.

3 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 10:54am On Jun 13, 2022
Subsaharan:


I have no problem with this.

A lot of those assets are a liability to the state.

Like the refineries for instance(spending $ms to pay union workers for doing nothing)

But it should be done in a proper manner where all investors are given a level playing field and the best emerges.

If precedence is anything to go by, it will not be favourable to Atiku.
Atiku is the worst of them all if we are honest.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Subsaharan: 10:57am On Jun 13, 2022
rvp2018:
Those are minor issues - how it sold - and for how much - is irrelevant. This something that is choking Nigeria economy.

You should not care who get it. Most of the time whoever get it will become saddled with debts - and huge staff - and will spend years cleaning it up - court cases and name it.

What you should focus is the objective of that privatization. If for example inefficient gov refineries will allow more Dangote to invest in the sector - then Dangotes or private investors - will create more efficient refineries.


The refineries are not working because of the subsidies.

Nigeria's downstream sector is comatose, largely because pump prices are fixed.

It is Nigerians themselves(The labor unions cheering from the front) that are the stumbling block to subsidy removal.

According to the Petroleum industry Act(PIA) subsidies were supposed to be gone 6 months ago.

They threatened now the state would have to spend +$7bn on subsidy this year alone.

Let the subsidies go, even the state would be able to run those refineries efficiently (although they are now the assets of NNPC Ltd, which is technically not owned by the state, courtesy of the PIA)

Pipelines transporting white products are about to be privatized so privatization of state assets is ongoing.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Balogunodua(m): 11:03am On Jun 13, 2022
Bloodofthelambo:
the British came to Kenya castrated the mau maus and left with their balls grin probably to show the queen how weak Kenya men are cheesy

grin grin


The Queen must have been really disappointed grin

1 Like

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Subsaharan: 11:09am On Jun 13, 2022
rvp2018:
The he is the best. Electricity issues will for example be sorted by dealing with supply/distribution and generation companies issues. Those are business that are inefficient - and you need a business mind to figured it out.

The same way Dr. Ngozi Okonjo-Iweala fixed Nigeria banking - and now it's the only sector in Nigeria thriving - is what is required in other sectors.

The power issues are currently being sorted

Nigeria got a deal from Germany to upgrade its transmission lines(largely the cause of power outages and grid collapses)

Similar to the one Egypt got. A $2.3bn deal(Technology transfer + 50% local content)

https://new.siemens.com/ng/en/products/energy/topics/presidential-power-initiative-nigeria.html

Although Mr. Tinubu would take all the credit, the first set of transformers would be arriving in the country in Q4.


https://www.thisdaylive.com/index.php/2022/04/27/siemens-deal-electricity-supply-equipment-to-begin-arriving-from-germany-in-september/

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 11:19am On Jun 13, 2022
Okay. I dont think problem is technical - I think problem is commercial- it starts with metering - and until that is sorted - this yet another wasteful expenditure like Obasanjo one.

The solution has to start in installing pre-paid meters - and sending army or someone to remove all illegal connections - and making it illegal to connect illegally.

Once you do that - supply companies - will have money to pay distribution companies - who will then run the turbines. With money flowing - they will then have money to invest in technical stuff.

But if you think the problem is transformers/turbines/transmission wires - you're going NOWHERE. Broke supply and transmission companies will not run the turbines or have staff to fix transmission issue.

The total cost for Nigeria to fix electricity issues - is zero - just send the army with power companies armed with millions of pre-paid meters - and within a week - Nigeria power companies will be swimming in money.

Subsaharan:

The power issues are currently being sorted

Nigeria got a deal from Germany to upgrade its transmission lines(largely the cause of power outages and grid collapses)

Similar to the one Egypt got. A $2.3bn deal(Technology transfer + 50% local content)

https://new.siemens.com/ng/en/products/energy/topics/presidential-power-initiative-nigeria.html

Although Mr. Tinubu would take all the credit, the first set of transformers would be arriving in the country in Q4.


https://www.thisdaylive.com/index.php/2022/04/27/siemens-deal-electricity-supply-equipment-to-begin-arriving-from-germany-in-september/

1 Like

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by jl115: 11:19am On Jun 13, 2022
Subsaharan:


Tinubu is also a major proponent of privatization and less state interference in business.

This was what boosted investor confidence and what ultimately transformed the fortunes of Lagos.

Even Buhari who is traditionally conservative has piloted several privatization initiatives.

Nigeria's power challenges are largely linked to the privatization of the National power company.

He led the committee that sold state assets to politically exposed persons(his cronies) with no capital to invest and sustain the business.

Now the state has to pay $bns of bailouts to these failed companies to run their business.

Now he is proposing to do more damage to critical sectors of the economy




if the state has to bail out private companies then those companies are not private and the market is not capitalistic in nature.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by jl115: 11:20am On Jun 13, 2022
rvp2018:
The purpose of privatization is not for gov to make money. I can understand Russia type of messed up privatization but overriding reason of privatizing state own companies is to free the economy - to broaden capitalism - and that is magic that will create more companies/wealth.

Nigeria Gov should sell most of it's SOEs for one Naira....and move on. SOEs not only stymie the economy - they also become an albatross as it saddle gov with debts, guarantees and occasional bailout.

Sell nearly all SOES - and focus on being a regulator - capitalism or free market - will work the magic. If you privatize but still do not allow free market to thrive - then that is huge Russia like mess. Otherwise if Atiku bought gov SOES for cheap - but everyone is allowed to compete - soon his companies will go down - because the market economy is VERY BRUTAL.

100% agree!!
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 11:21am On Jun 13, 2022
Subsaharan:

The power issues are currently being sorted

Nigeria got a deal from Germany to upgrade its transmission lines(largely the cause of power outages and grid collapses)

Similar to the one Egypt got. A $2.3bn deal(Technology transfer + 50% local content)

https://new.siemens.com/ng/en/products/energy/topics/presidential-power-initiative-nigeria.html

Although Mr. Tinubu would take all the credit, the first set of transformers would be arriving in the country in Q4.


https://www.thisdaylive.com/index.php/2022/04/27/siemens-deal-electricity-supply-equipment-to-begin-arriving-from-germany-in-september/
That, added to work on the dams and AKK gas pipeline, Nigerian electricity issues would definitely be solved before or around 2024. These are things Obasanjo and Jonathan should have worked on.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by jl115: 11:23am On Jun 13, 2022
Subsaharan:


I have no problem with this.

A lot of those assets are a liability to the state.

Like the refineries for instance(spending $ms to pay union workers for doing nothing)

But it should be done in a proper manner where all investors are given a level playing field and the best emerges.

If precedence is anything to go by, it will not be favourable to Atiku.
bolded: that is capitalism my friend wink..... Far to long especially in Africa people have been misled by anti capitalist propaganda, if people actually research what capitalism really is then nobody would every doubt it as the best economic system ever again

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 11:28am On Jun 13, 2022
jl115:
if the state has to bail out private companies then those companies are not private and the market is not capitalistic in nature.

Nigeria is not a full blown capitalist economy. There are different forms of capitalism and Buharism mixes everything. Buhari himself is confused. Perhaps he is still on his model called Buharism which was coined after his 1983 Government.

Google Buharism.

https://en.wikipedia.org/wiki/Buharism#:~:text=Buharism%20refers%20to%20the%20socio,became%20military%20head%20of%20state.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Subsaharan: 11:33am On Jun 13, 2022
jl115:
if the state has to bail out private companies then those companies are not private and the market is not capitalistic in nature.


The industry is just a huge mess.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by popizaino(m): 11:35am On Jun 13, 2022
rvp2018:
Okay. I dont think problem is technical - I think problem is commercial- it starts with metering - and until that is sorted - this yet another wasteful expenditure like Obasanjo one.

The solution has to start in installing pre-paid meters - and sending army or someone to remove all illegal connections - and making it illegal to connect illegally.

Once you do that - supply companies - will have money to pay distribution companies - who will then run the turbines. With money flowing - they will then have money to invest in technical stuff.

But if you think the problem is transformers/turbines/transmission wires - you're going NOWHERE. Broke supply and transmission companies will not run the turbines or have staff to fix transmission issue.

The total cost for Nigeria to fix electricity issues - is zero - just send the army with power companies armed with millions of pre-paid meters - and within a week - Nigeria power companies will be swimming in money.


Havertz10 do you agree that to fix electricity cost zero?
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Subsaharan: 11:37am On Jun 13, 2022
rvp2018:
Okay. I dont think problem is technical - I think problem is commercial- it starts with metering - and until that is sorted - this yet another wasteful expenditure like Obasanjo one.

The solution has to start in installing pre-paid meters - and sending army or someone to remove all illegal connections - and making it illegal to connect illegally.

Once you do that - supply companies - will have money to pay distribution companies - who will then run the turbines. With money flowing - they will then have money to invest in technical stuff.

But if you think the problem is transformers/turbines/transmission wires - you're going NOWHERE. Broke supply and transmission companies will not run the turbines or have staff to fix transmission issues.

The total cost for Nigeria to fix electricity issues - is zero - just send the army with power companies armed with millions of pre-paid meters - and within a week - Nigeria's power companies will be swimming in money.


Over 6m meters are being currently installed all around the country, it's a holistic plan.


https://punchng.com/world-bank-cbn-fully-funding-six-million-meters-fg/

Generation is being upgraded.

Transmission and distribution, these things take time

You've met Nigerians, very impatient.

They were subsidies on power too, they have been successfully eradicated, so as far as the ongoing installation of prepaid meters is a success, Discos would start running a profitable business for the first time.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Subsaharan: 11:40am On Jun 13, 2022
GeneralDae:

That, added to work on the dams and AKK gas pipeline, Nigerian electricity issues would definitely be solved before or around 2024. These are things Obasanjo and Jonathan should have worked on.

Yeah even Kainji is getting upgraded to 1,000MW


https://leadership.ng/expansion-of-kainji-hydroelectric-power-plant-begins/
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by jl115: 11:56am On Jun 13, 2022
GeneralDae:

Nigeria is not a full blown capitalist economy. There are different forms of capitalism and Buharism mixes everything. Buhari himself is confused. Perhaps he is still on his model called Buharism which was coined after his 1983 Government.

Google Buharism.

https://en.wikipedia.org/wiki/Buharism#:~:text=Buharism%20refers%20to%20the%20socio,became%20military%20head%20of%20state.
there isn't a single country in the world that is 100% capitalistic.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 12:11pm On Jun 13, 2022
jl115:
there isn't a single country in the world that is 100% capitalistic.
It depends. There are different forms of Capitalism, the one practiced in Germany for instance is different from the one in the U.S.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by theenchanter: 12:27pm On Jun 13, 2022
popizaino:


Havertz10 do you agree that to fix electricity cost zero?
I'm not havertz10.... But on behalf of havertz and myself, and also aligning myself with many Nigerians' notion

I don't agree that fixing Nigeria's power will cost zilch.

Even Egypt, with similar power problem with Nigeria pre-2016/17 spent roughly $9b to eradicate their power problem. grin.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 12:29pm On Jun 13, 2022
theenchanter:
I'm not havertz10.... But on behalf of havertz and myself, and also aligning myself with many Nigerians' notion

I don't agree that fixing Nigeria's power will cost zilch.

Even Egypt, with similar power problem with Nigeria pre-2016/17 spent roughly $9b to eradicate their power problem. grin.
$9bn? Are you sure of that? Then that's nothing. Even Lagos can hustle that out.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 12:31pm On Jun 13, 2022
Nigeria has installed capacity of 12,000MW - and it can barely get 4,000MW. So hardware is not the problem. The problem is software.

From your article...I see 10M meter gap and then we have illegal connection problem. These are easy to fix problems that cost very little. A pre-paid meter cost about 25 dollars....which customers can happily bear ..if not..it will cost 250M dollars. The rest is to get army and police to go house to house like a census....making sure...no illegal connection has been done....and everyone has pre-paid meters.

Those pre-paid meters connected to mobile money/fintech to generate tokens...will see money flowing to distribution companies...and once they are not bankrupt...they will pay for electricity.

As of now - large majority of that 8,000MW that is idle - is because the turbines wont run as distro companies wont pay - generating companies dont have money to buy gas or diesel or whatever they use to run turbines.

End result - waste of money - which is quite common in Nigeria.

Subsaharan:


Over 6m meters are being currently installed all around the country, it's a holistic plan.


https://punchng.com/world-bank-cbn-fully-funding-six-million-meters-fg/

Generation is being upgraded.

Transmission and distribution, these things take time

You've met Nigerians, very impatient.

They were subsidies on power too, they have been successfully eradicated, so as far as the ongoing installation of prepaid meters is a success, Discos would start running a profitable business for the first time.

3 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by theenchanter: 12:34pm On Jun 13, 2022
obaaderemi:
$9bn? Are you sure of that? Then that's nothing. Even Lagos can hustle that out.
nah, Lagos can't. Lest many sector will suffer for it.

But the good thing is that u don't to pay once for these kind of projects, it's a govt-to-govt project, no middlemen involved.

I think Nigeria has already made part payment sha.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by theenchanter: 12:38pm On Jun 13, 2022
rvp2018:
Nigeria has installed capacity of 12,000MW - and it can barely get 4,000MW. So hardware is not the problem. The problem is software.

From your article...I see 10M meter gap and then we have illegal connection problem. These are easy to fix problems that cost very little. A pre-paid meter cost about 25 dollars....which customers can happily bear ..if not..it will cost 250M dollars. The rest is to get army and police to go house to house like a census....making sure...no illegal connection has been done....and everyone has pre-paid meters.

Those pre-paid meters connected to mobile money/fintech to generate tokens...will see money flowing to distribution companies...and once they are not bankrupt...they will pay for electricity.

As of now - large majority of that 8,000MW that is idle - is because the turbines wont run as distro companies wont pay - generating companies dont have money to buy gas or diesel or whatever they use to run turbines.

End result - waste of money - which is quite common in Nigeria.

it's more of hardware than software. The transmission lines need to be expanded to carry over 25gw of power.

Right now, the transmission lines can only carry 5gw, anything over than that, it'll collapse.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 12:38pm On Jun 13, 2022
You're wasting money.
Obasanjo spend 16B dollars; Total wasted money; Nigeria remain in darkness.
Kenya and Ghana spend almost zero; most investment coming in as IPPS.
Kenya and Ghana have stable electricity.
The reason is once you fix regulatory and systemic issues - electricity will attract private investment - because this like Telcom.
There is ready market for electricity in Nigeria. Private sector will invest and get money. Nigeria gov should invest IN EDUCATION.
It's just too chaotic for anyone to come in - with illegal meters and broken transmission.
theenchanter:
nah, Lagos can't. Lest many sector will suffer for it.

But the good thing is that u don't to pay once for these kind of projects, it's a govt-to-govt project, no middlemen involved.

I think Nigeria has already made part payment sha.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Balogunodua(m): 12:38pm On Jun 13, 2022
theenchanter:
I'm not havertz10.... But on behalf of havertz and myself, and also aligning myself with many Nigerians' notion

I don't agree that fixing Nigeria's power will cost zilch.

Even Egypt, with similar power problem with Nigeria pre-2016/17 spent roughly $9b to eradicate their power problem. grin.
$9billoin shocked then Obasanjo needs to be
whipped... grin
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 12:41pm On Jun 13, 2022
Why not unbundle for every state to manage their small network?
Why do you need that complicated network?
This afternoon law change in Abuja - allow every state to do their own electricity reticulation.
Federal gov should step out.
Each state can attract investment - and deal with power issues.

In Kenya - constitution- Counties (way small than states) - have the power to manage their own electricity.

theenchanter:
it's more of hardware than software. The transmission lines need to be expanded to carry over 25gw of power.

Right now, the transmission lines can only carry 5gw, anything over than that, it'll collapse.

3 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by theenchanter: 12:42pm On Jun 13, 2022
rvp2018:
You're wasting money.
Obasanjo spend 16B dollars; Total wasted money; Nigeria remain in darkness.
Kenya and Ghana spend almost zero; most investment coming in as IPPS.
Kenya and Ghana have stable electricity.
The reason is once you fix regulatory and systemic issues - electricity will attract private investment - because this like Telcom.
There is ready market for electricity in Nigeria.
It's just too chaotic for anyone to come in - with illegal meters and broken transmission.
Obasanjo didn't spend $16b, that's a common myth that was reproved by Obasanjo himself...... In his books which I've read, at least.

I don't know how much u spend or not, but I know we'll spend.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by theenchanter: 12:45pm On Jun 13, 2022
rvp2018:
Why not unbundle for every state to manage their small network?
Why do you need that complicated network?
This afternoon law change in Abuja - allow every state to do their own electricity reticulation.
Federal gov should step out.
Each state can attract investment - and deal with power issues.
exactly, this was the talk sometime ago, but I don't think they're ready for full unbundling.

Some states are actually building theirs.

But another thing I want u to know is that fed govt is only involved in transmission section of the power sector, not generation and distribution.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp2018: 12:52pm On Jun 13, 2022
Transmission should be split.
It's like road network.
There are federal roads.
There are state roads.
Abuja should build federal transmission lines.
Those are heavy ones that can transport lots of power from big power stations - say 1,000MW - to each state transmission center.
From there - the state transmission take over.
They can feed into federal line or their own lines.
Gov jobs ends there - to be umpire - now each supply company and each distribution company - sell power to each other
And gov ensure payments are done in timely manner - and any maintainance coordinated.
These state govs can do.
Abuja then focus on building high transmission lines and really big power stations that become the backbone of the network.
States then focus on reticulation - and ensuring law and order - no illegal connections, timely payment to generating companies, etc.
That is hard part that Nigeria has not started working on.
Adding more hardware - will not solve such problems - of illegal connections, tampering, late or no payment to generating companies, no payment to oil or gas companies, no payment to banks who lend such sectors, delayed salaries to power staff.
theenchanter:
exactly, this was the talk sometime ago, but I don't think they're ready for full unbundling.

Some states are actually building theirs.

But another thing I want u to know is that fed govt is only involved in transmission section of the power sector, not generation and distribution.

1 Like

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by QuietMynd: 1:11pm On Jun 13, 2022
rvp2018:
You cannot privatize while choking the private sector through Abuja misguided policies.Otherwise gov has no business own even a share of any business and should be a regulator.Privitisation should be done 50 percent through IPO and 50 percent to strategic investor who understands that business... Nigeria privatisation failed mostly because it's didn't sell to strategic investors.Kenya mostly succeeded because we sold at least 40 percent first to big global companies in that space then rest to the public through IPO.
There u go, where did he mention Nigeria privatization failed.
The way u guys turns a point to suit urself.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by QuietMynd: 1:17pm On Jun 13, 2022
rvp2018:
The purpose of privatization is not for gov to make money. I can understand Russia type of messed up privatization but overriding reason of privatizing state own companies is to free the economy - to broaden capitalism - and that is magic that will create more companies/wealth.

Nigeria Gov should sell most of it's SOEs for one Naira....and move on. SOEs not only stymie the economy - they also become an albatross as it saddle gov with debts, guarantees and occasional bailout.

Sell nearly all SOES - and focus on being a regulator - capitalism or free market - will work the magic. If you privatize but still do not allow free market to thrive - then that is huge Russia like mess. Otherwise if Atiku bought gov SOES for cheap - but everyone is allowed to compete - soon his companies will go down - because the market economy is VERY BRUTAL.

Shut up, there is nothing Kenya can teach us about privatization

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