Power state but no electricity.

Muyiwaipere:
Building an hydro electric power plant in a desert ..
Chai waste of money

I wonder where the Igbo President Goodluck Ebere Jonathan built his own.

omowolewa:
Good one, Mambila will also join soon

And then finally Light shall defeat Darkness

It's ridiculous when you were kind of involved with someone who wanted to be part of this project but Nigeria thrives on some kind of slavery to take advantage of the ambiance of someone to get approval of their projects. Even after promising one that they will be involved in a project. This country in fact Africa is just something else. People just feel it's a game to manipulate one and get away with it. The black race my people is kind of cursed really.

Muyiwaipere:
Building an hydro electric power plant in a desert ..
Chai waste of money

Well good work there

lol..desert?....I'm sure you are joking! For your information, all Nigeria's current hydro dams are in that 'desert' Niger State.

Muyiwaipere:
Building an hydro electric power plant in a desert ..
Chai waste of money

Well good work there

It's the over abundance of attitudes like this amongst you Nigerians that is the reason that your nation is nowhere near where it should already be today. You all do not dream and execute on a large enough scale to make genuine hasty progress as apposed to snails pace. The great American Hoover Dam was built in the middle of a desert here in the US and still to date provides a sizable proportion of the SW's energy needs. It was and remains the single largest entity that lead to the rapid growth and survival of the renowned city of Las Vegas, which prior to the dams creation was nothing more than an dusty, dilapidated and nearly vacant ex spanish/Mexican colonial outpost. The dam brought it back to life and made it thrive.

symbianDON:
lol..desert?....I'm sure you are joking! For your information, all Nigeria's current hydro dams are in that 'desert' Niger State.

Why is that? Why weren't any built in the South?

Magicians:
Thanks to Johnathan!

I am waiting for fooling igbo n ipob alike to start liking my comment to buttress the sort of lunacy that is being generated from a section of the country.

Get some sense. It's supposed to be common.

Topmaike007:
China 75% funding in our own land.. abeg China should come and colonise us

they'll just manage it for some time, and release it back to the federal government

mechanics:
Power state but no electricity.

In your house? Because I have steady power here in Tunga, Minna oooh

HORRORIZON:


Why is that? Why weren't any built in the South?

direct that question to past and present leaders as I haven't yet had the opportunity of being in power. However, I'm aware that there are many other power generation facilities in places other than locations in Niger State. At any rate, your question is at variance with my post you quoted.

theenchanter:
The project started in May 2013 but legal matters and funding stalled its construction, its now expected to be completed by Dec 2021, and first unit is expected to start generation by Dec 2020.

Jonathan started this an achievement for PDP and APC

AnanseK:


I wonder where the Igbo President Goodluck Ebere Jonathan built his own.

Oh U are seriously asking this question

Am just tired with all these bleeping updates.....I just want to see 24/7 power for naija.....we don tire with promises.

kattytamer:
China owning 70%....since we no get govt

Funding not owning.

FrLukas:


I saw it. 75% Chinese, 25% local funding.

Makes it even worse.

There is no free lunch anywhere.

Be rest assured that Nigeria will be paying back soon enough, one way or the other.

Chinese recolonization of Africa is real o.

Nothing but interest on their loan. They have already gained by getting their contractors paid very well to carry out the project.

China behaves like true partners unlike white neocolonialists.

AnanseK:


I wonder where the Igbo President Goodluck Ebere Jonathan built his own.

Oga, Buhari does not know anything about how the Zungeru Hydro Dam came about.
It's all GEJ's project

It was even here on Nairaland homepage

GenBuhari:
Funding not owning.

Funding/owning...whatever...chinese govt is investing in nigeria just like nigerian govt in investing in... Get my point?

adanny01:


I totally agree with you.

The Chinese are smart with this thing they do.

They give a country a loan, take it back as a contract for a project. While executing the project, they make a huge profit from it by charging the country construction profits plus loan profit at the same time. Say the construction profit is 25% of the contract and the loan profit is another 25%, that makes a 50% profit on the loan sum.

To make matters worst, they will not even have to disburse 100% of the loan, what they actually disburse is 37.5% while Nigeria brings 12.5% upfront for the project.

Say the dam cost $1billion, $750million is a loan with a 25% interest. Nigeria owes China $750+187.5million=$937.5m. But Nigeria needs counterpart funding of 25% so the actual cost to Nigeria for the dam is $937.5+250m=$1.187.5b. Meanwhile China will make 25% of $1b as construction profit as well as 187.5m as loan interest. Add the profit of $250m + loan interest $187.5m =$437.5m.

China makes $437.5m profit on $750m while the citizens get jobs and earn money outside the profit amount.

Also the only money they need to disburse in executing the project is $750-250m=$500m. They will recover over 100% when the loan is due.

Highway robbery indeed!

Actually it is not highway robbery, it is capitalism. It was the best deal available to us .

GenBuhari:

Nothing but interest on their loan. They have already gained by getting their contractors paid very well to carry out the project.

China behaves like true partners unlike white neocolonialists.

Don't be so trusting.

China is a world power

Every move is a strategic one.

What are the terms of that loan, to begin with?

FrLukas:


Don't be so trusting.

China is a world power

Every move is a strategic one.

What are the terms of that loan, to begin with?

China are providing infrastructure that white neocolonialist never have.

kattytamer:

Funding/owning...whatever...chinese govt is investing in nigeria just like nigerian govt in investing in... Get my point?

Funding is very different from owning.

samintegrity:
How can we be spending $1.3 billion US dols on 750mw??

Seriously is Nigeria Ok at all?

This project is padded .

Chinese funded projected are usually very expensive. Normally a 750 MW power plant would be in the rage of $700 to $1 billion if the source of funding in local.

GenBuhari:
China are providing infrastructure that white neocolonialist never have.

Wrong.

White colonialists actually left Nigeria with good infrastructure.

If Great Britain had left Nigeria around 1990, trust me, most Nigerian cities would be like Johannesburg, SA.

A lot of the electricity infrastructure we are still enjoying today was bequeathed to us pre-independence.

Nigeria's worst mistake was agitating for independence when they did.

It is obvious that the black man can't rule himself.

Oh

FrLukas:


Wrong.

White colonialists actually left Nigeria with good infrastructure.

If Great Britain had left Nigeria around 1990, trust me, most Nigerian cities would be like Johannesburg, SA.

A lot of the electricity infrastructure we are still enjoying today was bequeathed to us pre-independence.

Nigeria's worst mistake was agitating for independence when they did.

It is obvious that the black man can't rule himself.

. Whitey spotted !

FrLukas:


Wrong.

White colonialists actually left Nigeria with good infrastructure.

If Great Britain had left Nigeria around 1990, trust me, most Nigerian cities would be like Johannesburg, SA.

A lot of the electricity infrastructure we are still enjoying today was bequeathed to us pre-independence.

Nigeria's worst mistake was agitating for independence when they did.

It is obvious that the black man can't rule himself.

. Whitey spotted !

GenBuhari:
. Whitey spotted ! . Whitey spotted !

Where's the lie in my post?

FrLukas:

Where's the lie in my post?

Easier to ask where the truth is.

sulaak:


Chinese funded projected are usually very expensive. Normally a 750 MW power plant would be in the rage of $700 to $1 billion if the source of funding in local.

But it is still the best deal available to us .

GenBuhari:
Easier to ask where the truth is.

You probably don't know the difference.

Nice project,hope it's complicated soon