₦airaland Forum

"I will copy Egypt" Copy what?

First question. Do you have the money? Egypt has borrowed roughly $40bn on power alone. The El Dabaa Nuclear plant alone costs $29bn. It's financed by Russia. Their national grid upgrade project costs $8bn. Egypt's debt is $262bn, 91% of GDP.

Egypt has borrowed nearly Nigeria's total external debt of $45bn on power alone. Let's even assume that we have a president who is ready to take on huge debts. Who will lend you money within 2 years? Will the Senate even approve the loan? How will you pay back in a country whose citizens want you to keep fuel, FX, and electricity subsidies? They will also complain that the president is borrowing too much.

You think electricity drops from the sky? 🤡

OneCandleAway:
But your current minister of power also spoke about learning from Egypt too.

https://www.nairaland.com/8378171/nigeria-learn-power-generation-egypt

You APC rodents needs to use your brains before posting . You all want obi to tell you all his strategy so you'll steal his ideas.

Honestly. Nothing is being done about power generation, and Tinubu asked us not to vote him for 2nd term if he doesn't fix power.

I like as them quote that reply before nairaland delete am😂

Perfectbeing:
"I will copy Egypt" Copy what?

First question. Do you have the money? Egypt has borrowed roughly $40bn on power alone. The El Dabaa Nuclear plant alone costs $29bn. It's financed by Russia. Their national grid upgrade project costs $8bn. Egypt's debt is $262bn, 91% of GDP.

Egypt has borrowed nearly Nigeria's total external debt of $45bn on power alone. Let's even assume that we have a president who is ready to take on huge debts. Who will lend you money within 2 years? Will the Senate even approve the loan? How will you pay back in a country whose citizens want you to keep fuel, FX, and electricity subsidies? They will also complain that the president is borrowing too much.

You think electricity drops from the sky? 🤡

How do you people reason sef?

Honestly, I don tire...I don tire

Go and watch that interview. He specifically said he would borrow to fund power. That's exactly what few reasonable Nigerians expected Tinubu to do, not borrowing to fund a needless coastal road.

Interestingly, Tinubu says the contractor would fund the project yet they go about borrowing money from ECOWAS for the same project.

SmartPolician:
Go and watch that interview. He specifically said he would borrow to fund power. That's exactly what few reasonable Nigerians expected Tinubu to do, not borrowing to fund a needless coastal road.

Interestingly, he says the contractor would fund the project yet they go about borrowing money from ECOWAS for the same project.

He would borrow to fund power that had been privatized?, he would borrow to fund power that has already been decentralized?. So una candidate will borrow 🤣🤣😂, we thought borrowing is bad, both power and roads, are they not infrastructure?😂😂. Headless mob for a reason.

PlasmaTV:
It's too early for you to start being f.o.o.l.i.s.h

Too early. Did you dream of PO?

He only stated his opinion, no need for insults. I don't agree with Tinubu on so many levels, but the op here is raising a point.

Putindbutt:
He would borrow to fund power that had been privatized?, he would borrow to fund power that has already been decentralized?. So una candidate will borrow 🤣🤣😂, we thought borrowing is bad, both power and roads, are they not infrastructure?😂😂. Headless mob for a reason.

FYI, Nigeria's power sector is divided into 3 major segments. What the government has done is sign an agreement with private players to run it for a couple of years... after which the deal may be renewed or rescinded. That's the meaning of privatisation in this context, especially in the distribution segment.

The bills Buhari and Tinubu signed allow private players and state governments to start investing in that business on a massive scale, unlike before when they weren't permitted by law to do what. That doesn't in any way mean that the FG cannot invest and develop the sector as Nigeria's population is steadily growing and all hands have to be on deck to supply power that will satisfy over 230 million people.

Since Tinubu privatised power (in your senseless understanding), why is he still borrowing money to finance the industry? https://www.google.com/amp/s/punchng.com/senate-approves-tinubus-500m-world-bank-loan-for-electricity-meters/%3famp

The next time I will give you a masterclass on power dynamics, you will have to pay for it. It's not my fault that you read news every day, but you don't have a working brain that fully understands it. The only thing you know how to do is throw insulting words. I have no idea if your APC employers give you people test at all before recruiting you

Good analysis.


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Perfectbeing:
"I will copy Egypt" Copy what?

First question. Do you have the money? Egypt has borrowed roughly $40bn on power alone. The El Dabaa Nuclear plant alone costs $29bn. It's financed by Russia. Their national grid upgrade project costs $8bn. Egypt's debt is $262bn, 91% of GDP.

Egypt has borrowed nearly Nigeria's total external debt of $45bn on power alone. Let's even assume that we have a president who is ready to take on huge debts. Who will lend you money within 2 years? Will the Senate even approve the loan? How will you pay back in a country whose citizens want you to keep fuel, FX, and electricity subsidies? They will also complain that the president is borrowing too much.

You think electricity drops from the sky? 🤡

So who would loan Nigeria 10 billion dollars for Lagos calabar highway?

Even if it's 10,000MW that's added to our electricity then it's a huge improvement

And they can collect light bills and pay back the loans

How would Lagos calabar rail make money? How would the loan be paid back

Perfectbeing:
"I will copy Egypt" Copy what?

First question. Do you have the money? Egypt has borrowed roughly $40bn on power alone. The El Dabaa Nuclear plant alone costs $29bn. It's financed by Russia. Their national grid upgrade project costs $8bn. Egypt's debt is $262bn, 91% of GDP.

Egypt has borrowed nearly Nigeria's total external debt of $45bn on power alone. Let's even assume that we have a president who is ready to take on huge debts. Who will lend you money within 2 years? Will the Senate even approve the loan? How will you pay back in a country whose citizens want you to keep fuel, FX, and electricity subsidies? They will also complain that the president is borrowing too much.

You think electricity drops from the sky? 🤡

The worst of slavery is not that of chains but that of the mind. Ronus slavery is of the mind. They have a defeatist mind set. like the OP.

They have concluded in their Whatsgroup that Nigeria can't work, hence their sophisticated choice of leaders Buhari and Tinubu has Boomerang on their faces. Now, they have resulted in attacking anyone that points to a positive and better Nigerian.

If not slavery, what is too difficult for Nigeria to be a developed nation? nothing, nothing. All that's required is the right leadership with vision, competence and passion. Israel developed from a desert, Dubai is a developed desert.

This seems too complicated for Ronus to digest. They attack and argue with someone that says he will copy Egypt?

For a fact, the fastest way to development is to copy from existing success, don't try to reinvent the will. If Egypt is a success in Electricity, you copy their process. simple.