₦airaland Forum

N I don’t pay nepa bills !!! In 7 days , calculativively , I should have light for straight 6 days!!!! It’s less than 24hrs outage in a week!!!

Finally APC have changed Nigeria from worse economy to Worst economy. What Buhari cannot destroy does not exist. Im Obidiently waiting for February, 2023.

Got you litty

Obi supporters is useless.

Where is the bill Nigerians paying going?

This is another of GEJ's legacies.

Companies like GE wanted to buy over discos, but they paddy paddied the sales to cronies without capacity or competence, so here we are.

They thought power is like GSM where companies hammered big time in a short time.

There is a rumour that the Abuja disco was really sold to patience Johnathan.

With owners like that, and the wrong idea about returns, this is where we are

Shey na like this we go dey dey

AMCOM where are thou.

One of the about 100 companies that Atiku Abubakar sold to himself, his boss Obasanjo, and their families and relatives

stazaa:
Tinubu is a Bast @rd

What are your parents?

The next president of naija go suffer, too many problems every where

The best solution is for AMCON to take over the companies.

The executive should pressuee the owners to claim insolvency/bankruptcy and let go of the assets.

Only then can competent hands take over the reins with the hope to bring it up to standard.

Otherwise...

Why not offset part of the bills by providing them with free electricity na

etrouble:
What are your parents?

You think he knows them?

hisexcellency34:
Useless people. What are they doing with all the crazy bills they are charging Nigerians?

Lol..how many people dey pay the complete crazy bills?

Wahala. Nigeria isn't ready yet. No wonder Obi went to Egypt to understudy their power. What a futuristic leader he is. Afi ki awon kan maa pariwo emilokaaaan

Why would Nigeria get it right on power? When an accountant under that ministry is stealing over 40bn naira with 50 houses and 70 car traceable to him in abuja alone. The man is fulani. After the discovery by fashola when he came, they removed the power ministry from him and gave it to a fulani man.. and the stealing continues . Where's the man today? No case. Nigeria isn't ready , I reiterate

Basically, when government is setting your prices, and forcing you to charge below the cost of producing the same power you sell, and paying you a subsidy that does not cover the cost, at the end, you owe the banks.

Also, when about 30% of your customers DO NOT PAY their power bills (higher than that in some areas) that compounds the matter.

The way we run power in this country, we privatize the sector, then make it difficult for them to make enough of a profit to actually fix things. And then we complain when we have no light.

Allow the DISCOS and GENCOS set their prices, just like a proper business. Make it easy for everyone to get a meter, and then issues will vanish.

Really poor management.

Corrupt and incompetence staff

In this Lagos most people don't pay bills, well the negotiate with their staffs month on month to pay a particular sum.

The estimated billing is highest form of scam, someone living in a mini flat will be asked to pay 40k per mo. Even with the unstable power!

They should just takeover these companies

GloriousGbola:
This is another of GEJ's legacies.

Companies like GE wanted to buy over discos, but they paddy paddied the sales to cronies without capacity or competence, so here we are.

They thought power is like GSM where companies hammered big time in a short time.

There is a rumour that the Abuja disco was really sold to patience Johnathan.

With owners like that, and the wrong idea about returns, this is where we are

Well,GE did not invest because they won't have been allowed to set the price of the power without government interference....which would make it difficult for them to operate in Nigeria.

That's why we could not attract the big playas.

Livingstone124:
Finally APC have changed Nigeria from worse economy to Worst economy. What Buhari cannot destroy does not exist. Im Obidiently waiting for February, 2023.

Was APC in power in 2013 ?
Most of us see the reality of things but still chose to turn a blind eye.
Our nation problem is deeply rooted.
Past Administration dig pit holes for next one .
APC is also digging another pit hole with debt for the next administration.

The earlier we shun politics of party,religion and tribe the best for the nation.

The next president will have his hand full with so many issues.

May God help us

29kobo:
Well,GE did not invest because they won't have been allowed to set the price of the power without government interference....which would make it difficult for them to operate in Nigeria.

That's why we could not attract the big playas.

GE were not the only ones who bid. I met some Indians who were probably uniquely suited to operate in the Nigerian environment. My then employer also bid, though I honestly think they may have been more talk than capacity.

kingsways:
This a mega, long term business these GENCOs and DISCOs are running.

They have the potential to generate huge revenues. Their problem is poor quality of their management.

They should dilute ownership. They should go to the stock market, sell shares and raise the long term capital that is required to build capacity, necessary infrastructure, and provide quality service.

You cant rely on short term bank loans to finance long term infrastructure, it doesn't work.

These companies should man their Treasury and Finance Departments with world class professionals.

I will take this free consultancy as my CSR but I'm not ever gonna consult for these people for free again

I'm not sure if they are permitted to do such. As highlighted, regulation is a major problem besetting the power sector.

divinehand2003:
Almost N1 trillion.
How many centuries will it take to pay this debt?

limao. I wonder how Nigeria ll get better

kingsways:
This a mega, long term business these GENCOs and DISCOs are running.

They have the potential to generate huge revenues. Their problem is poor quality of their management.

They should dilute ownership. They should go to the stock market, sell shares and raise the long term capital that is required to build capacity, necessary infrastructure, and provide quality service.

You cant rely on short term bank loans to finance long term infrastructure, it doesn't work.

These companies should man their Treasury and Finance Departments with world class professionals.

I will take this free consultancy as my CSR but I'm not ever gonna consult for these people for free again

The secret is, both companies were sold to cronies who have no money to buy the companies but just got political favour. No serious business man will invest his money in the controversially sold DisCos and GenCos because of their high potential to collapse. In the first place Govt should have sold them to powerful business men, group or entities with track record of concrete assets with little liability who can expand and boost the companies to better situation but look at it now, people are contributing money to buy transformers, state govts still in charge of electrification completely, FG subsidising GenCos with about N150b annually. Very regrettable, selfish privatisation.
Nigerians are just cheated!

And it's not my money they'll use to pay back. Immediately they increase the tariff, I'll cut my light.

I'll go all solar.

Nonsense and Nigeria.

divinehand2003:
Almost N1 trillion.
How many centuries will it take to pay this debt?

Note: The loan was taken in 2013...

ArewaNorth:
The secret is, both companies were sold to cronies who have no money to buy the companies but just got political favour. No serious business man will invest his money in the controversially sold DisCos and GenCos because of their high potential to collapse. In the first place Govt should have sold them to powerful business men, group or entities with track record of concrete assets with little liability who can expand and boost the companies to better situation but look at it now, people are contributing money to buy transformers, state govts still in charge of electrification completely, FG subsidising GenCos with about N150b annually. Very regrettable, selfish privatisation.
Nigerians are just cheated!

Blame that Mumu Jonathan, I still remember that November 7th 2013 morning, when the idiot was handing over the certificates to the winners of their so called bids.