Stats: 3,190,081 members, 7,939,346 topics. Date: Wednesday, 04 September 2024 at 12:24 AM |
Nairaland Forum / Nairaland / General / Politics / FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 (7052 Views)
CBN Destroys Over ₦6 Trillion Banknotes Under Buhari / FG Removes Electricity Subsidy Quietly, Petrol In Phases / Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion (2) (3) (4)
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Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ELKHALIFAISIS(m): 10:14am On Jan 18 |
Some people will vote for them again |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by gare(f): 10:18am On Jan 18 |
Omooba77:Let them pay if they don't have anything to pay they would start stealing, those are the little things Nigerians are benefitting from the government still they want to stop it for 3 persons to pocket the money 🤑 |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by bdon12: 10:26am On Jan 18 |
Omooba77:So we stop subsizing petrol only to subsidize electricity that we really dnt hav.we are all mad. |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by omokab: 10:31am On Jan 18 |
Nbote:I don't know the meaning of this subsidy . The light we are not enjoy with high tariff is what subsidy will be paid for . The brought over 15k on monthly usage with epileptic power supply . To say the fact we don't consume up to 2k light in a for the month January in my area . |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by Thomthom(m): 10:43am On Jan 18 |
Imka:Hahahaha |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by IbnB: 11:08am On Jan 18 |
Omooba77: All these talks of subsidy ars big lies..more obviously these criminals are not even 'subsidising' eoectricity production but rather distribution. How hard is it to take money for what you sell and blance your books without robbing your customers blind? 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by Basicend: 11:20am On Jan 18 |
nairalanda1: You are a partaker of the govt bro. I can infer from your perspectives. Even on other points in this thread. Raw truth is, you people don't have an idea of how extremely poor misappropriation of resources have made Nigerians become now. A bottle.of Coke is N300, ordinary gala is N150 now. An average Nigerian cannot afford to buy a slice of bread on the road now. The govt (esp. past and present) leaders have over milked it's people. It is very sad. Look, finding ways to make eat and make this people live so be it isn't priority. The people you are defending, are siphoning millions of naira and dollars everyday into their private accounts. This is the stark truth. So your points are not accepted at all. The tax receipts, how did they appropriate it. The receipts from so called subsidy removal, how did they appropriate it? 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ABC101FF: 11:26am On Jan 18 |
APC & CORRUPTION
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Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by OriginalCEO: 11:40am On Jan 18 |
obinna58: it seems?? dey play |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ericmor: 11:50am On Jan 18 |
sherylbaky: They wont. Even tho they tell you they have put money out there you will not see or get it just like the palliative. I've beginning to think the politicians are not just interested in the poor, they only have business with the rich that are ready to do business with them and pay them for whatever they roll out |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ericmor: 11:59am On Jan 18 |
Basicend: It is good to just ignore such person comment. If all what the person said is true, why are we paying urge for electricity that has been subsidised and yet no light, everything is been paid for by us including the transformer. And also, how do they become a billionaire when they get to the government office if they are not making money. Some lies are just too clear to see but some people will still have the guts to come out and defend the corruption. Well, not their fault anyway, it is the people that are weak to face them and fight for their right I will blame |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ericmor: 12:02pm On Jan 18 |
omokab: 15k bawo, you must be living in face me and slap u where you sheared the bills the total amount is 90k lowest sometimes 100k and how they arrived at the amount is what we don't know 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ericmor: 12:05pm On Jan 18 |
Imka: And still no light yet |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by woodr5711: 12:17pm On Jan 18 |
Mansa6: This person no normal at all, you people are the ones spoiling this country, you see black and you say na white. We supposed find you come house. What are you saying? |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by nairalanda1(m): 12:21pm On Jan 18 |
Basicend: No, I just believe that businesses should be free to charge whatever prices they want to charge, because that is the only way they can make enough money to fix things. That includes the power sector. It does not mean i support the government, it just means I support plain capitalism My reasons for doing so is simple. We allow capitalism, we end up with a prosperous economic class, that can be taxed for the benefit of the poor class. I do not work for the government, and I personally regard our entire political class as exceddingly corrupt. It is just that army rule was the same thing with guns and authotarian rule, that's why I don't support a coup. Raw truth is, you people don't have an idea of how extremely poor misappropriation of resources have made Nigerians become now. Actually I do. But at the same time, I also regard the government has having misrun the economy by not diversifying the economy, and by not making us an exporter of manufactured goods and servicies. That is the reason why we are backward...corruption makes a bad thing worse, and is a symptom of inefficent rule. Not the cause A bottle.of Coke is N300, ordinary gala is N150 now. An average Nigerian cannot afford to buy a slice of bread on the road now. Yes, and that has been said since independence. Nigerians have always been too 'poor' to afford things. Even when that coke was 70 kobo. The govt (esp. past and present) leaders have over milked it's people. It is very sad. Look, finding ways to make eat and make this people live so be it isn't priority. So because the government has milked its people, it should force the power sector to 1.Sell below the production cost of power 2. Also, pay a subsidy that does not cover the loss 3.Reduce gas producton by forcing years of subsides on the petroleum sector, which make it unprofitable to among other things produce more gas for power indirectly... Bad policy replaced with more bad policy. The people you are defending, are siphoning millions of naira and dollars everyday into their private accounts. This is the stark truth. So your points are not accepted at all. I am not defending anyone in government, least of all this APC government. I merely state that government should at the end of the day let the power sector charge the price it needs to make a profit to pay for improvements....and at the same time, this means government would no longer need to pay any subsides. That you call me a government supporter shows you have missed that point. The tax receipts, how did they appropriate it. Yes, there is corruption. But tax does not account for up to 20% of our nation's income. Tax to gdp is lower than even Ghana and SA. Finally, 70% of Nigerians who are taxable do not pay income tax to state and federal governments (as at 2019). Corruption makes a bad thing worse. The receipts from so called subsidy removal, how did they appropriate it? First, they have not removed the subsidy completely Second, subsidy removal is why government, over the years (because this is not the first time)...can afford to pay off debts (incurred by being an oil dependent country, which means oil prices never stay where they would favour us, which means we have to take loans...debt).....and pay salaries. Because subsidy grows as cost of production grows, In 2012, it was N34 per liter to keep fuel at N65 per liter. Assuming fuel still cost N65 per liter today, it would have cost N650 or more per liter to keep it that way as at October 2023. If not for partial removal, that cost would have eaten our budget and would have made us in essence dependent on loans and on the mercy of IMF in ways that would make Buhari's loan mania and tinubu loan mania look like chicken change. Good am. [/quote] 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by nairalanda1(m): 12:32pm On Jan 18 |
ericmor: Well, I think it isn't good to ignore yours, because you show a basic misunderstanding of what I am saying. If all what the person said is true, why are we paying urge for electricity that has been subsidised and yet no light, everything is been paid for by us including the transformer. Because power is sold below its cost of production on orders from government, the power sector runs at a loss. The losses are in theory covered for by subsidies budgeted for at the begining of the year. In pracitice these are not sufficient to cover the losses because production cost keeps rising, and cannot be controlled by government. One of the ways production cost risies is the fact that gas used in power supply is paid for in dollars. As you know, naira is falling against the dollar. You need more naira to pay for dollars. You can guess the result. (Gas companies refuse to accept payments in naira). This is why the power companies cannot make a profit, and why you have to buy transformers and suchlike. It is because they are running at a loss. (Let's not forget...AS MUCH AS 30-50% of NIGERIANS DO NOT PAY FOR POWER AT ALL...whether it is billing or meter.When you have a business that is running at a loss, and people are not paying, too, where is the money to fix and expand things going to come from?) And also, how do they become a billionaire when they get to the government office That is why you should vote out PDP, LP, APC, AND NNPP....and vote for one of the smaller parties. You should have done so in 2023, like I did, you can do so in 2027 Also, owners of DISCOS and GENCOS are not making return on investment. They are so broke that they cannot pay tax, and they cannot make ends meet.....because government sets their prices, and the subsidy government pays them is inadequate, and again a large percentage of their customers do not pay for power. All that adds up. if they are not making money. They arein't making as much money as they should. Three discos are already being run by their creditors instead of the original owners.. One other (rumored to be owned by Atiku) is under the defacto control of the government because they could no longer cope. The rest struggle. Some lies are just too clear to see but some people will still have the guts to come out and defend the corruption. Well, not their fault anyway, it is the people that are weak to face them and fight for their right I will blame Would you let the government set your prices, if you were a businessman, so that your poor customers can breathe more easily? Is defending the right to set one's prices a defence of corruption in government ? You are really missing the point. 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by fitinwell: 12:33pm On Jan 18 |
Omooba77: Baba blue but u said subsidy is gone.. We do not need this subsidy here.. Subsidized Food, Education and Health... Leave NEPA people out... Let Every Nigerian should Power there own electricity... Thank God for Solar.. FGN can Subsidized Solar Installations to every home based on your Capacity.. because NEPA in Nigeria is a Big Scam.. 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by Hardcore11: 12:41pm On Jan 18 |
nairalanda1:oga keep brain washing yourself 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by nairalanda1(m): 12:45pm On Jan 18 |
Hardcore11: Things can never be cheap, you know. Otherwise, assuming you were a businessman selling bread, that cost N1000 to bake, you can never sell it at N100 a loaf, and expect to make a profit. You sell it at N1200, and make a profit of N200 No matter what you think of me, things have to be sold at a profit. Good morning. 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by MadamExcellency: 12:48pm On Jan 18 |
nairalanda1: Is like I will have to enroll you in our business and management school. Greed is the fundamental principle of capitalism. There are essential commodities like bread, sugar, electricity, water and such likes that require government interventions. The divide between the rich and poor shouldn't be allowed to increase astronomically without policies to mitigate the worse. The discos are after the lumpsom from subsidy. They are making profit but marginal and will never agree. 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by anjolaoluwa17o: 12:49pm On Jan 18 |
Ah! The electricity we don't have constant supply of.Ah! The electricity we don't have constant supply of.... 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by nairalanda1(m): 12:57pm On Jan 18 |
MadamExcellency: For believing that electricity has to be sold at a profit. Greed is the fundamental principle of capitalism. There are essential commodities like bread, sugar, electricity, water and such likes that require government interventions. The divide between the rich and poor shouldn't be allowed to increase astronomically without policies to mitigate the worse. That is if the government was earning enough money to do so. Nigeria is 1.An oil dependent nation which thanks to the fluctuations in the price of oil is not earning enough from oil 2,Looting and corurption too lessen the money 3.Oil production is not up to 2 million barrels a day, and it isn't enough for a nation of 200 million people 4.Tax revenue, is not up to 20% of our income 5.We tried subsides on bread and other things before. In the early 1980's. Then the oil prices crashed, and we ran out, and scarcity resulted...until the government ended subsides, and prices went up. A lot of communist countries did what you said, and they within decades ran out of money and collapsed. The problem is, unless we raise enough from tax...we can't pay for subsides on anything.At the end the person making bread, and the person making power all want to be PAID. Ditto the person making milk. If you want to go back to the ESSENCO debacle under Buhari, reintroduce subsides on sugar, bread, water, and so on. You would create massive scarcity and job losses, until prices go up to allow production continue. AND NO, IT DOES NOT MEAN I BACK APC, OR PDP. I came to this conclusion some 11 years ago. Teh above also shows that government, even this one now, is incompetent. No policy to diversify the economy led us here. The discos are after the lumpsom from subsidy. They are making profit but marginal and will never agree. Actually no, they are not making a profit, and they won't even need the subsidy if they were making a profit (Only way government would pay them a subsidy is if government wanted to bring prices down...which isn't the case here). DISCOS are not making a profit (and no, I am not lying , and if you accuse me of lying, you miss my point). 1.They lose money due to the 30-50% of consumers that do not pay for power. 2.They are forced to charge below the production cost..more losses result. 3.If you get below 18 hours of power, you get charged less per kwh compared to someone getting above 18 hours per day. That's a loss, and then those getting 18 hours or more still pay below what it costs to produce power. 4. Three discos are under the control of their creditior banks. One declared force maejure and handed itself to government. Does that strike you as a profit making business? I mean, would you make a profit if many of your customers are not paying, and your prices are set below profitable level price? I have been reading up on this thing for over 10 years, I know what I am talking about . 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by Kaybaba5(m): 1:30pm On Jan 18 |
It seems they are importing electricity from overseas… Reason for subsidy God help us 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by Walz001: 1:37pm On Jan 18 |
Omooba77: Action speak Louder than Voice they say Until we do something t.tangible to revive our country It wont revive itself alot of thibgs are wrong and they have been using all this mess to loot daily Petroleum subsidy has gone almost a year now we dont have tangible thing they have use the money to do Now we have been buying transformers poles cables and fixing it wr still pay same nepa officials at the end we still pay monthly For those supporting this idea have you heard anywhere in the world were a white man will buy transformers and pole to have electricity or have to buy wire to have their light in their district We all need our head ob the table to think development anyone found guilty should be giving life in prison for looting 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by Charly68: 1:57pm On Jan 18 |
Paying subsidy for non consumed energy is fraudulent and bad . The Govt needs prayer to solve the problem of the power sector 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ambale(m): 2:26pm On Jan 18 |
Nbote: I get one sister she dey always talk like that before, when she got to the UK, she called me herself say naija should never be compared to them too, say the levels is not even close at all We are still a baby, imagine in my area na one big man and his friends find money buy the transformer, wey landlords now trying to pay them back, we service the transformer ourselves, buy cables and all, still go find money to buy meter and you dey compare us to International whatever werey that's what they are 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by ambale(m): 2:29pm On Jan 18 |
How much he go take us to distribute prepaid meters to houses and make them pay what they use? How much will even be needed to generate enough electricity to power the country? Make una sha dey loot dey go I pray you won't get tired 1 Like |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by obesse: 2:40pm On Jan 18 |
Toh |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by obesse: 2:44pm On Jan 18 |
MadamExcellency: |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by kenmaro: 2:45pm On Jan 18 |
They have opened another milking pipe line. All these years, we haven't heard of electricity subsidy but because they were anti fuel subsidy they couldn't bring it back rather they had to look for another story to tell us which is "electricity subsidy". |
Re: FG To Pay N1.6 Trillion For Electricity Subsidy In 2024 by nairalanda1(m): 2:46pm On Jan 18 |
obesse: Nope. Only if the government allows the power companies set their prices(and combat power stealing aggressively, and meter everyone), would it favour all of us, as it would enable them to make enough profit to improve things, pay better salaries, pay for supplies, pay the taxman his due (or Caesar his due), pay for new power stations and new transmission capacity indirectly, and attract more foreign and domestic investment...leading to more growth. Also, more hydro stations, and nuclear stations. Then we can have the power sector we desire. A working power sector. A working profitable power sector that need fear no creditor. I don't have any friends in the power sector by the way. Good afternoon, son. 1 Like |
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