₦airaland Forum

StaffofOrayan:
Bros naira doesn't have value,
We are the highest population of poor people on earth,
Suggesting a price hike when salaries has not increased is just callous.
Besides APC claimed they have a couple of power plants about to start power generation

VaselineCrew:
40m

Bro, I already covered this. We spend 3 BILLION DOLLARS LOOKING FOR OIL IN THE NORTH

3 BILLION

That money could have added 3,000MW worth of Solar Panels that would start generating electricity immediately.

Printerscanner:
You will wail for several years. PMB till 2023. Osinbajo/El-Rufai - 2023 to 2031.
Masari or El-Rufai/ Fayemi - 2031 to 2039
Fayemi/Tambuwal - 2039 to 2047

theoldpretender:
So, we take loans....and we don't complain about it.

That's the only realistic solution.

Agreed APC has failed...PDP has failed....but there is a reason why we privatised power...because of the reality that government could no longer fund power adequately.

So, either we pay higher for pwer...or we take loans...or we accept the status quo and stop complaining. We cannot get something of $2million for $20.

theoldpretender:
OK...3billion....which is a waste

But 3000MW does not solve our power deficit.

South Africa has light 24/7....for 46million people...and they generate 40000mw.

3000mw just gets us up to 8000-10000mw. Lagos, according to the APC candidate for governor, needs 15000MW alone.

We need more money than that (and no, it can't come from our reserves. )

So, either higher bills, or we take loans, or we stop complaining and accept the status quo.

Yes,most Nigerians are poor. But if we keep on using that poverty excuse...we will never get anywhere.

theoldpretender:
We need to increase generation and improve transmission.

And that cannot be done on bills less than 4000 on meter, 10000-20000 estimated.

Let's be honest, the laws governing the establishment of the DISCOS force them to charge below the production price of power...meaning they cannot pay the GENCOS adequately and the GENCOS cannot pay enough for gas.

And in my opinion, we need a sum far higher than our national budget to get to 24/7 electricity. Somewhere between $300-900bn. (Our reserve is $40bn.)

Fashola said 5 years ago that 24/7 power was not rocket science. The man should by now see how severe the problem is.

So either power bills go up ,or we take a loan, a hefty loan. Ghana has 24/7 light...because their power bills are higher than ours. Time we faced the reality.

theoldpretender:
We need to increase generation and improve transmission.

And that cannot be done on bills less than 4000 on meter, 10000-20000 estimated.

Let's be honest, the laws governing the establishment of the DISCOS force them to charge below the production price of power...meaning they cannot pay the GENCOS adequately and the GENCOS cannot pay enough for gas.

And in my opinion, we need a sum far higher than our national budget to get to 24/7 electricity. Somewhere between $300-900bn. (Our reserve is $40bn.)

Fashola said 5 years ago that 24/7 power was not rocket science. The man should by now see how severe the problem is.

So either power bills go up ,or we take a loan, a hefty loan. Ghana has 24/7 light...because their power bills are higher than ours. Time we faced the reality.

theoldpretender:
So where do we get the money to make improvements?

Ghana pays higher than we do, and they are just as much a developing country as we are.

And at the moment, oil prices are too low for us to make a decent living.

And then there is corruption.

Shebi we should take loans? That means much higher bills anyway down the road.?

Let us be realistic.

caye:
What crime did I commit in a previous life to share a country with demons like these who speak senseless grammar?

AuntyAmope:
From my little observation, I believe Nigeria -before Buhari assumed office in 2015- was already at a point of explosion due to the heavy mismanagement of funds by almost all the past governments. It was just a matter of time before it exploded irrespective of who assumed the office, it was meant to happen. All Nigeria needs right now is a good manager,which Buhari is doing arguably fine. And it's understandable to see some people wanting to rise against the Buhari force. How do you expect a system built on corruption, one that knows nothing but corruption, how do u expect it to support the fight against corruption? Nigeria needs overall hauling and cleansing, a long term one. But I tell you, Buhari is our best deal right now. Buhari, a Nigerian ready to fight corruption(a quality Atiku and the other oldies lack), who has been in d game of politics for a very long time(a quality Sowore and the new guys in the game lack)

smeag0l:
Exactly. And as it's stands our reseve cannot foot transmission cost for 24/7 power. The only option is to make the masses pay higher bills. Everywhere in the world that has constant power the bill's are at least 40-50k per month in naira

Excellent7:
Liar!!!
I pray tell me the countries you have been to or lived in and paid such household monthly bills a month for constant power?

Printerscanner:
You will wail for several years. PMB till 2023. Osinbajo/El-Rufai - 2023 to 2031.
Masari or El-Rufai/ Fayemi - 2031 to 2039
Fayemi/Tambuwal - 2039 to 2047

SIRTee15:
Increasing tariff wouldn't solve anything....
The problem goes beyond that....

First, power should be seen as a long term investment and of strategic national economic importance....
It shouldn't be an avenue for business owners to turn billionaires overnight....
Presently most owners of disco n Genco see the business as short term gain....
They lack the resources to pull through on the long run....
That's why they keep harassing FG to increase tarrifs...
They've got no long term plan for nigerian power sector....

U need a billion dollars to generate 1000 MW of electricity for 1 million population.....
So to attain 50 thousand MW, which is the cut off for industrialization, we need 50 billion dollars investment in the power sector...
And for Nigeria to enjoy 24/7 electricity, we talking over 150 billion dollars for over 150 thousand MW of electricity....

The present guys don't have that kind of money or any long term plan to achieve that....
FG can't finance such project from its meagre budget n there's no way that kind of money can be gotten from tariff increment.....
Loan will not cut it, no organisation will loan Nigeria such huge amount of money. Besides, the interest n loan repayment will too burdensome n may even sink the nigerian economy....

What we need is foreign investors with the financial strength n technical capability to invest in our power sector....

When PHCN was unbundled, foreign investors from Ontario and Turkey indicated interest during the bidding process....
Rather, FG sold it to its cronies, ignoring those who has what it takes to turn the power sector around....
The result is what we seeing now.....

Second, power should be removed from the executive list and places in the concurrent list....
FG shouldn't have complete autonomy over the power sector, other interested players should be allowed to get in.....
Let there be complete deregulation n decentralisation of the power sector....
Whichever state, region, company or even individual that desires to generate, transmit or distribute its own electricity independently, should be allowed to do so.....
The whole idea of all power generated going to the national grid and evenly distributed across the nation is cumbersome n is part of the problem....

I'm sure states like Lagos or Rivers can easily achieve constant electricity supply to its population if they are allowed to do so.....
Business men can target wealthy areas like Abuja or industrial areas. They can win the contract to generate n supply electricity to those areas at competitive price....

Already, some institution like cannan land n covenant university generate n supply their own electricity independent of the national grid....
So what's the big deal....

grandstar:
I feel the price still needs to be deregulated to lure on investors. The higher the profit margin, the greater the incentive to invest. Government should not dictate the price they should sell. It's a big disincentive and a turn.

With increased investment and competition, the price will drop to reasonable levels.

Potential demand is about 50,000mw at present but what of effective demand.

It is rumoured that some DISCO's refuse to accept extra power from GENCO's due to a lack of customers willing to pay for it.

SIRTee15:
Yes the price will be deregulated and tarrifs will surely go up but not with the intention of short term gain or raising the money needed to invest in the sector....
Investors should bring their own funds or source for the initial capital independently....
What the present DISCO wants is to jack up tariffs to the level where they can raise the needed funds to revitalize the sector...
That's completely unreasonable...