There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E - Politics (2)

There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E (14955 Views)

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Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by CrestMan: 10:51am On Jul 19, 2019*

chloride6:
So wait, Buhari has spent more money on power than Jonathan with Higher oil prices?

Wow!

Please don't forget to include the higher exchange rate for bubu meaning when converted, bubu has spent far more

1 Like

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by mvem(m): 10:52am On Jul 19, 2019

kponkedenge:
Where are all those people that said PDP and Jonathan destroyed Nigeria?
Buhari has used only 4 years and has already spent 45 percent of it.

1 billion naira in 2000 is not the same with 1billion in 2015 because of inflation, Money has lost value.... This is common economics

4 Likes 1 Share

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nasir123(m): 10:52am On Jul 19, 2019

I keep wondering while is it so difficult for Nigeria to produce electricity for her own citizens!
Answer :
Nigerians are unpatriotic and corrupt.

Ordinary Electricity!

1 Like 1 Share

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by es144000: 10:54am On Jul 19, 2019

huptin:
Therefore Buhari has spent more than what Obasanjo spent on electricity but he is generating less!

On power plants which are gas fired;paplanto,gegeru,olorunshogo,erc obj spent 3.0 and yaradua/Gej 5b dollars and pmb zeo but for orher nepa projects pmb spent more at 3b dollars

2 Likes

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by degamemaster(m): 10:57am On Jul 19, 2019

Buhari is the biggest criminal in the history of Nigeria.
His Change mantra turned out to be CHAIN
His Next Level is also turning out to be NECK'S Level.
That means his whole administration is all about CHAINS ON THE NECK = POVERTY, SUFFERING, ANGUISH, DEATHS AND FRUSTRATION.

Buhari is a demon

2 Likes

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nasa28(m): 10:57am On Jul 19, 2019

Nemesis909:
Na so.

From a 2009 House of Reps probe:

https://www.voanews.com/archive/nigerian-lawmakers-probe-16-billion-spending-power

What about their Report?

2 Likes 1 Share

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nobody: 10:58am On Jul 19, 2019

bestman09:
Even if they read, they won't digest because they already have a mindset of how PDP wasted $16b on power.
Buhari and APC are fraud

We watched the probe where revelations of how foreign companies were given contracts without their knowledge and bank accounts opened in their names. ONJ is a big thief and he had to sack ngozi okonjo iweala as finance minister in order for him to perpetrate this $16 billion power fraud.

3 Likes 1 Share

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by double0seven(m): 10:59am On Jul 19, 2019

mknigeriagreat:
Lol baba o. OBJ and diplomatic lies ehn. The simple question that should be asked baba is how much did he spend on power in 8 years let him tell us if he actually ran a good government of accountability with proper documentations of activities and tasks.

Note: Click on my signature for this beautiful ride. Car will be gone this weekend be the lucky owner. MAke me a good offer. Check my profile as well. Tokunbo mint sparkling peugeot 407. Sport ride for the great people.

You see your life... When you will read anything but you'll be making comments. What you ask for is right there in the body of the news article :

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

1 Like

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by DJInfluence: 11:00am On Jul 19, 2019

Honestly though, the developed countries enjoying constant power supply did not spend this much to achieved that. Despite this amount spent, we can´t even boast of 18 hours a day supply of power. Am even tired of complaining.

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nobody: 11:00am On Jul 19, 2019

Nasa28:
What about their Report?

They put it in the cooler and started the witchhunt of indidi elumelu the chairman of the committee.

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nobody: 11:03am On Jul 19, 2019

double0seven:
You see your life... When you will read anything but you'll be making comments. What you ask for is right there in the body of the news article :

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

https://www.google.com/amp/s/thenationonlineng.net/revealed-who-got-what-in-16b-obasanjo-power-deals/amp/

1 Like

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Skepticus: 11:06am On Jul 19, 2019

I've always said it that Nigeria was never great and can never be great.

The news that come out daily is one that is enough to spark a revolution in saner societies.

This report, just like others, would fade off into oblivion while the morôns bearing the brunt would attack each other over irrelevant issues.

They are already doing that in comments above and below mine. Bunch of mad people.

You deserve the animals that rule you!!

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by mknigeriagreat: 11:08am On Jul 19, 2019

double0seven:
You see your life... When you will read anything but you'll be making comments. What you ask for is right there in the body of the news article :

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

You still don't get me? Since the first day of the 16billion dollars allegation on obasanjo for the power sector, he as a person hasn't said what he spent on it. I said let baba himself answer that question. He was the president for 8 years, he should know best what was released for that sector isn't it? I am not disputing the figures up there I just want OBJ to nail it on the head himself. Too much to ask for?

2 Likes

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nobody: 11:24am On Jul 19, 2019

Xda59:
https://www.google.com/amp/s/thenationonlineng.net/revealed-who-got-what-in-16b-obasanjo-power-deals/amp/

Zombie, did you even read the link you posted? The report actually exonerates Obasanjo.
This is a poor job from you. You don't deserve today's pay

1 Like

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Jones4190(m): 11:28am On Jul 19, 2019

bestman09:
Even if they read, they won't digest because they already have a mindset of how PDP wasted $16b on power.
Buhari and APC are fraud

are you said obj did not borrow money for the power sector?

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by seanjy4konji: 11:28am On Jul 19, 2019

All this money is some countries handle am huh

Nigeria go be like huh

ass in well managed??

All this embassies would go empty...

But selfishness and interest wont let us move forward.

1 Like 1 Share

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Princedapace(m): 11:34am On Jul 19, 2019

obailala:
$12billion, $16billion, $25billion, what does it matter?

Nigeria was generating close to 4GW of electricity in 1999. 20 years and $12 / $16 / $25 billion dollars later, our total power generation is still hovering around the very same 4GW. The bitter truth is that the black man is incapable of ruling himself. Bring back the Brits to rule us for just one tenure of 4 years and we would all be shocked at how useless the black man really is in leadership.

www.nairaland.com/attachments/8153747_7956673789276678919967877650photo1537634936549jpeg6f1dc6f97f7bbc2c9409820e8cd633e2jpeg148cbc52512fd88abae8a3a551b74cc4jpegd16e22692d0fac0763a14a5499c2727fjpeg58690a7c9b64495d76c035e0fd787eee_jpeg_jpeg80f2e9a15d066e8fbf530aa47c71f889

perfectly right.. Unfortunately, many sentimental ones will come and dispute what u said. Black man has not recorded any success managing a country and growing the country him self. Black is poor in terms of leadership. Blacks can do well in already made system but cant build a working system. Simple

if the British were still ruling us, yeah, they would loot, just as our leaders are looting us, the British would av still developed us better than we are right now.

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Basher8583: 11:36am On Jul 19, 2019

Buckubuck:
Nigeria has spent a total of $12.38 billion in the last 46 years. Between 1999 and 2019 Nigeria Spent N2 trillion and Buhari spent 45% of that fund.

The chronological timeline is shared below

1973-1998: The Nigerian government spent $1.83bn on installing 5.715GW Hydro and Gas power plants.

Please note the Nigerian Naira was stronger than the USD from 1973 till 1985 and it started tumbling from 1986 onwards.

1999-2019: Our federal lords spent a paltry N2 trillion and they expect Magic to happen.

The cash we have spent in the last 46 years in the power Sector is not up to the Annual revenue generated From the South African Electricity Sector.

N955bn+ which was released to the power ministry within the year captured exclusive of MYTO subsidies as follows:

*1999 – N11.206 billion appropriated, N6.698billion released;

*2000 – N59.064billion appropriated, N49,785 billion released;

*2001 – N103. 397 billion appropriated, N70.927 billion released;

*2002 – N54.647billion appropriated, N41.196 billion released;

*2003 – N55.583billion appropriated, N5.207billion released;

*2004 – N54.647billion appropriated, N54. 647billion released;

*2005 – N90.283 billion appropriated, N71.889 billion released;

*2006 – N74.308 billion appropriated, N74. 3 billion released;

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

*2007 – N100 billion appropriated, N99.8 billion released;

*2008 – N156 billion appropriated, N112 billion released;

*2009 – N89. 5 billion appropriated, N87billion released;

*2010 – N172 billion appropriated, N70 billion released;

Total N368.8 billion ($2.63 billion) Yardua Regime and a Grand total inclusive of MYTO subsidies N442.4 billion ($3.28 billion)

*2011 – N125 billion appropriated, N61 billion released;

*2012 – N197. 9 billion appropriated, N53. 5billion released;

*2013- N146 billion appropriated, N49 billion released;

*2014 – N69.8 billion appropriated, N48 billion released; and,

Total N211.5 billion ($1.36 billion) GEJ Regime and a Grand total of N293 billion inclusive of MYTO subsidies $1.89 billion

*2015 – N5. 240billion appropriated, no record but we can say it is not 100% funded.

*2015 -2019 N900 billion was released according to Vice President Osinbajo and another 600 billion is in the pipeline

N155b released as subsidy fund for MYTO Multi Year Tariff Order (MYTO) ($1.05 billion)

The funds were given for a period of five years. A breakdown of the interventions funds are as follows:

*2009 – N30.8 billion

*2010 -N43.2 billion

*2011 – N37.0 billion

*2012 – N11.5 billion

*2013 – N32.6 billion.

$8.23bn was released to NIPP from ECA to push our installed generating capacity with 5GW and OBJ regime released $3.08bn while the balance was spent between 2007-2015

Federal Government made $2.238 billion about N358 billion from the sale of 15 Power Holding Company of Nigeria, PHCN

Our Spending according to CBN and other verifiable sources like Budget office

(1)Obasanjo Regime -N374.65 bn $2.88 bn)

(2)Yar'adua RegimeN442.4bn ($3.28bn)

(3)GEJ Regime - N293 bn $1.89 billion

From 1999 - 2015 Nigerian Government invested N1.109 trillion inclusive of MYTO subsidies

(4)Buhari Regime - N900bn $2.95 billion

This is a grand total of N2 trillion in the last 20 years and in Dollar Value is $11 billion in twenty years

From 1973 till date Nigerian Government has spent a total of $12.83 billion and when the sold PHCN the made $2.238 billion.

The Presidential Review Panel on the NIPP set up by the NEC, said the panel found that as at 2007, total project allocations/ estimates to NIPP was $10.231 billion inclusive of the $2 billion Federal Government counterpart funding for Mambilla Hydro Power project and $1.4 billion for additional nine turbines.

out of these commitments, $3.08 billion was funded and scrutinised with advance payment guarantees from “first class” Nigerian banks and Letters of Credits issued by the Central Bank of Nigeria (CBN). $1.5 billion of the sum is still in the custody of the banks.

At no time did OBJ spend $16bn on power or the Nigerian government spend $16bn in the last 46years. it is outright falsehood.

http://saharareporters.com/2019/07/18/there-was-never-time-nigeria-spent-16bn-our-power-sector-during-obasanjo-era-or-last-46

You don't just conjure figures out like that. It should be backed by evidence.

When Gej's govt was accused of looting massive amounts of dollars from the treasury Gej denied saying "if that is possible America will know."
Has the truth not come out now......

2 Likes 2 Shares

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Xisnin(m): 11:42am On Jul 19, 2019

mvem:
1 billion naira in 2000 is not the same with 1billion in 2015 because of inflation, Money has lost value.... This is common economics

We are dealing with dollars here.

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Xisnin(m): 11:44am On Jul 19, 2019

The APC propaganda finally destroyed.
Buhari has been asking for the $16 billion dollars for years when only a fraction
was actually spent.

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by mvem(m): 11:46am On Jul 19, 2019

Xisnin:
We are dealing with dollars here.

same thing

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by EkunKekere: 11:49am On Jul 19, 2019

And Thief-Nubu the criminal is benefitting from the present regime.

BigBrother9ja:
But obj(thief) made the budget...

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Basher8583: 12:07pm On Jul 19, 2019

MyGeneration:
Nigeria work no dae, jobs no dae, money no dae, companies are closing down, people are loosing jobs, insecurity higher than ever, light no dae, but of all these problems Buharis concern is how to travel to london, and Ruga... lol welcome to the nect level

Nigeria work no dae: There's work for the skilled individual. Upgrade yourself with relevant certifications and watch the magic.

jobs no dae: Jobs dey well well. I just changed jobs not too long ago

money no dae: Haba if you get job you go get money now.

companies are closing down: that's what happens to companies that were built on a fraudulent foundation (companies milking the nation out). No chance for that again in Buharis era

people are loosing jobs: the trick is to always remain relevant in you work place. Education is dynamic. Don't relax because you've git a job. Upgrade and remain relevant.

insecurity higher than ever: wrong. Its just media hype. Politicians have discovered they can't fight in the open again due to relevant authorities so they've resulted to social media hype to discredit the govt.
That was how they were suprised about the number of voters that came out in NE thinking they've all been wiped out by Boko haram as social media claimed

light no dae: you don't pay your bills and you want light. Are the gencos generating it free for you to use.
Go and try this in usa. No one will suply you light if you dont pay ur bills. You tap and your are in deep sh1t.
Did you know that illegal tapping of electricity is part of the main causes if transformer damage. You all cause the problem with your own hands and start to complain.
Prepaid metering has been more agressive during this APC era as Buhari insists that everyone should only pay for what they consume. I have prepaid with solar electricity. When i run out of power credits I switch to Solar. Besides i have at least 20hrs of power daily from the grid without the use of my Solar

Summary
Stop whining and get busy upgrading yourself
If you dont have cash. Start by saving the money you use in buying data

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by jaxxy(m): 12:35pm On Jul 19, 2019

Our leaders are con artists. The more u look the less u see

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by godliman: 12:58pm On Jul 19, 2019

Buckubuck:
Nigeria has spent a total of $12.38 billion in the last 46 years. Between 1999 and 2019 Nigeria Spent N2 trillion and Buhari spent 45% of that fund.

The chronological timeline is shared below

1973-1998: The Nigerian government spent $1.83bn on installing 5.715GW Hydro and Gas power plants.

Please note the Nigerian Naira was stronger than the USD from 1973 till 1985 and it started tumbling from 1986 onwards.

1999-2019: Our federal lords spent a paltry N2 trillion and they expect Magic to happen.

The cash we have spent in the last 46 years in the power Sector is not up to the Annual revenue generated From the South African Electricity Sector.

N955bn+ which was released to the power ministry within the year captured exclusive of MYTO subsidies as follows:

*1999 – N11.206 billion appropriated, N6.698billion released;

*2000 – N59.064billion appropriated, N49,785 billion released;

*2001 – N103. 397 billion appropriated, N70.927 billion released;

*2002 – N54.647billion appropriated, N41.196 billion released;

*2003 – N55.583billion appropriated, N5.207billion released;

*2004 – N54.647billion appropriated, N54. 647billion released;

*2005 – N90.283 billion appropriated, N71.889 billion released;

*2006 – N74.308 billion appropriated, N74. 3 billion released;

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

*2007 – N100 billion appropriated, N99.8 billion released;

*2008 – N156 billion appropriated, N112 billion released;

*2009 – N89. 5 billion appropriated, N87billion released;

*2010 – N172 billion appropriated, N70 billion released;

Total N368.8 billion ($2.63 billion) Yardua Regime and a Grand total inclusive of MYTO subsidies N442.4 billion ($3.28 billion)

*2011 – N125 billion appropriated, N61 billion released;

*2012 – N197. 9 billion appropriated, N53. 5billion released;

*2013- N146 billion appropriated, N49 billion released;

*2014 – N69.8 billion appropriated, N48 billion released; and,

Total N211.5 billion ($1.36 billion) GEJ Regime and a Grand total of N293 billion inclusive of MYTO subsidies $1.89 billion

*2015 – N5. 240billion appropriated, no record but we can say it is not 100% funded.

*2015 -2019 N900 billion was released according to Vice President Osinbajo and another 600 billion is in the pipeline

N155b released as subsidy fund for MYTO Multi Year Tariff Order (MYTO) ($1.05 billion)

The funds were given for a period of five years. A breakdown of the interventions funds are as follows:

*2009 – N30.8 billion

*2010 -N43.2 billion

*2011 – N37.0 billion

*2012 – N11.5 billion

*2013 – N32.6 billion.

$8.23bn was released to NIPP from ECA to push our installed generating capacity with 5GW and OBJ regime released $3.08bn while the balance was spent between 2007-2015

Federal Government made $2.238 billion about N358 billion from the sale of 15 Power Holding Company of Nigeria, PHCN

Our Spending according to CBN and other verifiable sources like Budget office

(1)Obasanjo Regime -N374.65 bn $2.88 bn)

(2)Yar'adua RegimeN442.4bn ($3.28bn)

(3)GEJ Regime - N293 bn $1.89 billion

From 1999 - 2015 Nigerian Government invested N1.109 trillion inclusive of MYTO subsidies

(4)Buhari Regime - N900bn $2.95 billion

This is a grand total of N2 trillion in the last 20 years and in Dollar Value is $11 billion in twenty years

From 1973 till date Nigerian Government has spent a total of $12.83 billion and when the sold PHCN the made $2.238 billion.

The Presidential Review Panel on the NIPP set up by the NEC, said the panel found that as at 2007, total project allocations/ estimates to NIPP was $10.231 billion inclusive of the $2 billion Federal Government counterpart funding for Mambilla Hydro Power project and $1.4 billion for additional nine turbines.

out of these commitments, $3.08 billion was funded and scrutinised with advance payment guarantees from “first class” Nigerian banks and Letters of Credits issued by the Central Bank of Nigeria (CBN). $1.5 billion of the sum is still in the custody of the banks.

At no time did OBJ spend $16bn on power or the Nigerian government spend $16bn in the last 46years. it is outright falsehood.

http://saharareporters.com/2019/07/18/there-was-never-time-nigeria-spent-16bn-our-power-sector-during-obasanjo-era-or-last-46

I HAVE ALWAYS KNOWN THAT THE SO CALLED S16 BILLION DOLLARS SPENT ON POWER WAS A MYTH COINED BY DIMEJI BANKOLE'S KANGARO PANEL. BABA JIDE OF TVC JOURNALIST HANG-OUT ONCE GAVE AN EYE-OPENING EXPOSE' ON THAT. THE PRESENT GOVT IS JUST USING THAT TO MALIGN OBJ.TRULY NIGERIA IS NOT WORTH DYING FOR, OBJ STRUGGLED AND SECURE DEBT FORGIVENESS FOR NIGERIA AND PAID UP OUR LOAN BALANCE, TODAY FOR DARING TO SPEAK TRUTH TO POWER, HE IS A BAD GUY, MEANWHILE BUHARI IS FEVERISHLY BORROWING (WITH NOTHING TO SHOW FOR), ERRODING ALL THE GAINS OF THE OBJ'S YEARS, YET HE TO SOME IS THE BEST LEADER TO EVER LEAD NIGERIA. NIGERIA IS PATHETIC. SINCE WE AVOWEDLY HATE TRUTH, LET US ENJOY OUR DELICIOUS LIES. BTW WHERE IS THE S200 BILLION LOOTED FUNDS APC SUPPORTERS TOLD US WILL BE SHIPPED IN FROM DUBAI AT THE ON SET OF THIS GOVT?. IT SEEMS SOME PEOPLE CAN LIE FASTER THAN THEY BREATH. MAY GOD FORGIVE US ALL WE ARE A WICKED AND REPROBATE RACE.

2 Likes

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by decco1878: 1:18pm On Jul 19, 2019

Buckubuck:
Nigeria has spent a total of $12.38 billion in the last 46 years. Between 1999 and 2019 Nigeria Spent N2 trillion and Buhari spent 45% of that fund.

The chronological timeline is shared below

1973-1998: The Nigerian government spent $1.83bn on installing 5.715GW Hydro and Gas power plants.

Please note the Nigerian Naira was stronger than the USD from 1973 till 1985 and it started tumbling from 1986 onwards.

1999-2019: Our federal lords spent a paltry N2 trillion and they expect Magic to happen.

The cash we have spent in the last 46 years in the power Sector is not up to the Annual revenue generated From the South African Electricity Sector.

N955bn+ which was released to the power ministry within the year captured exclusive of MYTO subsidies as follows:

*1999 – N11.206 billion appropriated, N6.698billion released;

*2000 – N59.064billion appropriated, N49,785 billion released;

*2001 – N103. 397 billion appropriated, N70.927 billion released;

*2002 – N54.647billion appropriated, N41.196 billion released;

*2003 – N55.583billion appropriated, N5.207billion released;

*2004 – N54.647billion appropriated, N54. 647billion released;

*2005 – N90.283 billion appropriated, N71.889 billion released;

*2006 – N74.308 billion appropriated, N74. 3 billion released;

Total - N374.65 billion ($2.88 billion) Obasanjo Regime.

*2007 – N100 billion appropriated, N99.8 billion released;

*2008 – N156 billion appropriated, N112 billion released;

*2009 – N89. 5 billion appropriated, N87billion released;

*2010 – N172 billion appropriated, N70 billion released;

Total N368.8 billion ($2.63 billion) Yardua Regime and a Grand total inclusive of MYTO subsidies N442.4 billion ($3.28 billion)

*2011 – N125 billion appropriated, N61 billion released;

*2012 – N197. 9 billion appropriated, N53. 5billion released;

*2013- N146 billion appropriated, N49 billion released;

*2014 – N69.8 billion appropriated, N48 billion released; and,

Total N211.5 billion ($1.36 billion) GEJ Regime and a Grand total of N293 billion inclusive of MYTO subsidies $1.89 billion

*2015 – N5. 240billion appropriated, no record but we can say it is not 100% funded.

*2015 -2019 N900 billion was released according to Vice President Osinbajo and another 600 billion is in the pipeline

N155b released as subsidy fund for MYTO Multi Year Tariff Order (MYTO) ($1.05 billion)

The funds were given for a period of five years. A breakdown of the interventions funds are as follows:

*2009 – N30.8 billion

*2010 -N43.2 billion

*2011 – N37.0 billion

*2012 – N11.5 billion

*2013 – N32.6 billion.

$8.23bn was released to NIPP from ECA to push our installed generating capacity with 5GW and OBJ regime released $3.08bn while the balance was spent between 2007-2015

Federal Government made $2.238 billion about N358 billion from the sale of 15 Power Holding Company of Nigeria, PHCN

Our Spending according to CBN and other verifiable sources like Budget office

(1)Obasanjo Regime -N374.65 bn $2.88 bn)

(2)Yar'adua RegimeN442.4bn ($3.28bn)

(3)GEJ Regime - N293 bn $1.89 billion

From 1999 - 2015 Nigerian Government invested N1.109 trillion inclusive of MYTO subsidies

(4)Buhari Regime - N900bn $2.95 billion

This is a grand total of N2 trillion in the last 20 years and in Dollar Value is $11 billion in twenty years

From 1973 till date Nigerian Government has spent a total of $12.83 billion and when the sold PHCN the made $2.238 billion.

The Presidential Review Panel on the NIPP set up by the NEC, said the panel found that as at 2007, total project allocations/ estimates to NIPP was $10.231 billion inclusive of the $2 billion Federal Government counterpart funding for Mambilla Hydro Power project and $1.4 billion for additional nine turbines.

out of these commitments, $3.08 billion was funded and scrutinised with advance payment guarantees from “first class” Nigerian banks and Letters of Credits issued by the Central Bank of Nigeria (CBN). $1.5 billion of the sum is still in the custody of the banks.

At no time did OBJ spend $16bn on power or the Nigerian government spend $16bn in the last 46years. it is outright falsehood.

http://saharareporters.com/2019/07/18/there-was-never-time-nigeria-spent-16bn-our-power-sector-during-obasanjo-era-or-last-46

1 Like

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by CodeTemplar: 1:56pm On Jul 19, 2019

Realdeals:
The reason Nigeria is not getting it right, is the neglect of the manufacturing sector. The over reliance on importing items to build our growth will not make it to work, outflow from the estimated N2 trillion spent on electricity is over 80%.
Instead of building the steel and iron industry to produce turbines and power transmission railings here in the country, we resort to importing.

100% of the iron bar that will be used in the construction of the Lagos-Ibadan railway project will be imported, does it mean we cannot have industry to produce them? What are the government doing to build the capacity of its citizens, yet he wanted them to be productive and stop going into crime?

NIGERIA IS OBVIOUSLY DUE FOR A REVOLUTION TO USHER IN A NEW IDEAS.

We should look beyond Buhari incompetency, OBJ letters, Afenifere Lamentation, Ohanaze crying and Arewa weeping all those old generation of leaders that made up this groups have failed us, they have no excuse.
All they are doing now is just eye service to salvage what at one point or the other they've contributed to destroyed.

We need a little more than working steel industries to start building power turbines. We need truly functional brains and not the old generation.

1 Like 1 Share

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by 7lives: 3:12pm On Jul 19, 2019

Nasa28:
What about their Report?

This report na efulefu report from VOA jor.
Whoever needs to die, whatever needs to die, let them just die so that this country can move forward.
Can you imagine the nonsense?, $16 billions is being probed as far back as 2009, and this baba is singing opata now.

1 Like

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Gandollar(f): 3:57pm On Jul 19, 2019

Nemesis909:
Na so.

From a 2009 House of Reps probe:

https://www.voanews.com/archive/nigerian-lawmakers-probe-16-billion-spending-power

Counter with facts and lay it side by side not just posting a link. The link you posted is what was debunked

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Timfreds(m): 7:12pm On Jul 19, 2019

It's painful how APC and Buhari succeeded in deceiving Nigerians, and plunging the nation into the deep waters we are in at the moment. Buhari is actually God's punishment for nigeria.

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Staro: 7:36pm On Jul 19, 2019

I know

Re: There Was Never A Time Nigeria Spent $16bn On Our Power Sector During Obasanjo E by Nemesis909: 8:34pm On Jul 19, 2019

Gandollar:
Counter with facts and lay it side by side not just posting a link. The link you posted is what was debunked

What other proof but one conducted by a PDP populated House of Reps on a PDP Executive?

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