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GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis - Politics (4) - Nairaland

Nairaland ForumNairaland GeneralPoliticsGENCOs, DISCOs Owe Banks N836 Billion Amid Crisis (10464 Views)

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Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:24pm On Aug 18, 2022
rusher14:
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...
I just hope their paddy paddy virus has not started inflicting AMCON too cos I'm very aware that AMCON sef dey look face. They pardon the most powerful amongst them or give them very flexible conditions. Nepotism and corruption is everywhere in Nigeria. Its just always about time but compromise sets in to these corporate bodies eventually. Naija no be America,don't forget
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:27pm On Aug 18, 2022
ennyrah:
Where is the bill Nigerians paying going?
They squander their share of the bills and run to bank again to obtain running capital. They're not business men but thieves and crooks.
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:32pm On Aug 18, 2022
chatinent:
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.
smart move. Cut off the grid pls. Replace your appliances with energy saving ones like haier freezers if necessary and get a powerful solar system installed. I just installed mine for my shop too. My friend stopped paying light bills a long time ago and he gets constant power supply with solar. If you don't cut off the grid,they would tax you heavily and use your money to pay their debts and live lavishly buying super cars
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:40pm On Aug 18, 2022
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!
Anything goes in Nigeria and that's why they allow candidates with questionable health issues to contest. In America,ordinary BMI can disqualify you if you're obese. They do background check on anything especially concerning the masses before they issue you a pass. But in Nigeria,everything is paddy paddy,even someone with financial problem that's been pursued by AMCON can win Genco/Disco license. They don't deal with merit in this country. Its always about how close you are to our corrupt leaders
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:44pm On Aug 18, 2022
Sweetplum:
limao. I wonder how Nigeria ll get better
Laughable. The country is already doomed and old corrupt leaders are even emerging as candidates in prominent parties and you are still wondering how the country will get better. Sis,generate your own light with solar or gen,dig your borehole or well with pumping machine,create your own ammenities and shelter and live your life. Stay careful and prayerful cos security isn't guaranteed too
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:49pm On Aug 18, 2022
Eriokanmi:
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 grin

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 grin. Where's the man today? No case. Nigeria isn't ready , I reiterate
Obi would do the same too. I lost trust in Nigerian leaders after Buhari emerged. Nigeria is actually cursed
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by ennyrah: 6:51pm On Aug 18, 2022
iamrealdeji:
They squander their share of the bills and run to bank again to obtain running capital. They're not business men but thieves and crooks.
Everything is not just right in Nigeria
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by Eriokanmi: 6:55pm On Aug 18, 2022
iamrealdeji:
Obi would do the same too. I lost trust in Nigerian leaders after Buhari emerged. Nigeria is actually cursed
I don't think so. Propaganda elected Buhari. I don't see it happening again. They almost stoned Jonathan and Tinubu caused it all. Not knowing he's eyeing that place too....hence, the Emilokan
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by iamrealdeji(m): 6:56pm On Aug 18, 2022
baba4thegehs:
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
I've noticed that the most powerful people in this country lack intelligence and are not innovative. They claimed to be educated and were given licenses but they're handling the business like cavemen
Re: GENCOs, DISCOs Owe Banks N836 Billion Amid Crisis by yemi1504: 8:29pm On Aug 18, 2022
iamrealdeji:
Mafiarism is prevalent in Nigeria more than Sicily. But you see them attend religion functions in agbada and kaftan like responsible men but they're low key gangstas. The mega rich billionaires in Nigeria mostly got there not with innovations or brilliance but with occultism,suppression,intimidation,fetishism,jazz,ruthlessness,assassination and kidnap,investing dirty money into legit businesses and how do you expect them not to exploit with their Ill gotten power and influence? They're the most unpatriotic set of people In the world.
You can say that again bro!
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