| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by rummmy: 10:07am On Aug 06, 2021 |
Jonathan left nepotism,disobey of court orders and soft landing for terrorists from north........too?
Failures everywhere you go. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Vernor(m): 10:09am On Aug 06, 2021 |
Sylva , e no go beta for you. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Chibuking1402(m): 10:23am On Aug 06, 2021 |
Blame game is always the tump card of this administration even after 4 years of political inaptitude, poverty, multiple deaths, double recession, kidnapping, banditry, collapse economy, ever weakening of naira etc ..what do we still hear? Blame blame blame... why the hack are they voted into office to do? Just like a player, Nigerian signed them on to better the lots of this country, clean the mess of the previous adminstration, write the wrong and restore her lost glory but guess what? They came on! Bastardized the economic situation, plunged the country into untold survivings abject poverty and penury, notoriously elevate the the poverty indexes of the country to number 1 in the world, divides the country more along ethnical lines by appointment and political alignment of a particular section of the country
Something must gives!
The country must not continue to be run this way
It's obvious Nigerian made a huge mistake! Which has taken the country thousand steps backwards
It's either Nigeria returns to it's regional system of government because things has falling apart and the center can no longer hold!!
Drop pen!! |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 10:44am On Aug 06, 2021 |
Sirjamo:
1. Yar adua left $62b for Jonathan. Jonathan left $33b for Buhari.
Due to falling oil prices, and subsides having to be paid. There is a reason why subsides ended on kerosene and diesel druing GEJ time Also, in 2008, oil reached an all time high of $145 per barrel. Yaradua took advantage of that to boost savings. It never went that high after 2009. GEJ did benefit from $91-130, but at no time above $140. 2. Yar adua left oil price of crude at $100 for Jonathan. Jonathan left it at $40 for Buhari. ( not Jonathan's fault)
True, but it was $75 3. When Jonathan became president, all states were paying salaries, when he left, 27 States couldn't pay salaries.
Falling oil prices =falling income. And he made the mistake of spending more and more on subsidies. 4. When Yar adua died, GDP growth was over 9%, by the time the Zoologist left in 2015, he had already destroyed the GDP down to 2.5%
Falling oil prices as well So yes, Buhari inherited a damaged economy. In fact, losing the 2015 election was a huge relief for Dr Clueless, the economy would have been so bad that the military would have intervene and scuttle our democracy.
Actually, nothing would have changed. The issue is we are a resource dependent economy, not whether GEJ or Bubu has the brains. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Kelvin30286063(m): 10:45am On Aug 06, 2021 |
6 years later, they are still complaining. Just take responsibility and do your job! |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Johel(m): 10:45am On Aug 06, 2021 |
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| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 10:48am On Aug 06, 2021 |
deavicky:
I'm ashamed of you, who tell u building bridges, railings, and airport in what we need to develop. What happens to power sector, refinery and security. Do you know how much they claim to spend monthly on fuel subsidy?. Do you know what insecurity is causing our brother up north, many of them can no longer go to their farms or school(I hope u know what that means to the society and economy at large) Do u also know how many businesses had left Nigeria because of electricity and how many small businesses that had been closed or can never start because of electricity. I can go on and on to educate u on this but for the sake of argument let me allow u be.
We know the economy need revamping that is why Buhari and APC was voted to power, instead they became worse then the previous. Power and refineries are not working because Nigerians don't want to pay for petrol and power at market price. Ideally, we should be paying N80 and above per kwh for power, and N350 and above for petrol. That would mean that the power and refineries make enough of a profit to work well enough and fix things. But Nigerians don't want that...so power costs N49-71, AND PETROL costs N163 ...AND a subsidy is paid running into billions to cover loses...which at the end of the day is not sufficient. Before you start...Niger is poorer than we are, yet their single 20000bpd refinery works because fuel costs N377 THERE....,meaning the refinery makes enough of a profit to work...and to export petrol to 3 African countries...Nigeria included. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by joinnow: 11:01am On Aug 06, 2021 |
nairavsdollars:
Will there be anything for Buhari to handover in 2023 ? Yes now He will handover DEBTthat the next 10 presidents of Nigeria won't be able to payback |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Kindledlight(m): 11:10am On Aug 06, 2021 |
CSTRR:
You are seriously deluded.
Your Buhari is a concentrated failure.
I remember when foreign investors in the country were leaving in droves just 1-2 years into buhari's govt.
Buhari fanatics like you were claiming that it is because it is no longer business as usual, and that they can go with their corrupt money.
Those threads are still on nairaland.
You don't know that it is the cumulative effects of all those departures that we are feeling now.? With the gibberish you have written you are the one seriously deluded. As if the person i quoted was wrong moreover I didn’t absolved Buhari from all the problems. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 11:11am On Aug 06, 2021 |
post=104477082:
Only a willfully blind enemy of Nigeria don't know this.
Slow and steady Nigeria will be great again.
God bless Nigeria. self delusion is the worst kind |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 11:12am On Aug 06, 2021 |
Beancounter94:
Power and refineries are not working because Nigerians don't want to pay for petrol and power at market price.
Ideally, we should be paying N80 and above per kwh for power, and N350 and above for petrol. That would mean that the power and refineries make enough of a profit to work well enough and fix things.
But Nigerians don't want that...so power costs N49-71, AND PETROL costs N163 ...AND a subsidy is paid running into billions to cover loses...which at the end of the day is not sufficient.
Before you start...Niger is poorer than we are, yet their single 20000bpd refinery works because fuel costs N377 THERE....,meaning the refinery makes enough of a profit to work...and to export petrol to 3 African countries...Nigeria included.
 |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 11:17am On Aug 06, 2021 |
Lollittaa:
Yes, you are free to look me one kind. But suppose you were buying shoes at N10000 a pair and selling it at N15000 A PAIR, and then government comes in and tells you to sell at N7000 a pair, and pays you a subsidy of N2000 a pair...meaning you make N9000 a pair,which means you lose N1000 FOR every pair of shoes you buy for resale. And then the cost of shoes at the wholesaler goes up to N12000...meanwhile you are buying the shoes at N12000 and selling at N7000 AND collecting subsidy of N2000 per pair...at the end of which you lose n3000 PER pair. And by the way 30% of your customers don't pay for the shoes they buy from you at all That is how we have been treating our refinieries and power sector, and why they do not work. Harsh truth, and one i hate telling, but it is the truth |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 11:21am On Aug 06, 2021 |
Beancounter94:
Yes, you are free to look me one kind.
But suppose you were buying shoes at N10000 a pair and selling it at N15000 A PAIR, and then government comes in and tells you to sell at N7000 a pair, and pays you a subsidy of N2000 a pair...meaning you make N9000 a pair,which means you lose N1000 FOR every pair of shoes you buy for resale.
And then the cost of shoes at the wholesaler goes up to N12000...meanwhile you are buying the shoes at N12000 and selling at N7000 AND collecting subsidy of N2000 per pair...at the end of which you lose n3000 PER pair.
And by the way 30% of your customers don't pay for the shoes they buy from you at all
That is how we have been treating our refinieries and power sector, and why they do not work.
Harsh truth, and one i hate telling, but it is the truth stop talking like a fool  |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Gambit23: 11:37am On Aug 06, 2021 |
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| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Gambit23: 11:46am On Aug 06, 2021 |
CoolAmbience:
The past will always be spoken about in the quest for genuine advancement.
It is nobody's fault that Jonathan performed woefully in office. His administration disgracefully had to borrow in April 2015 just to pay workers salaries.
https://thenationonlineng.net/fed-govt-borrows-n473b-to-pay-salaries-overheads-in-four-months/amp/
This is no way a blame game, but a reference to his past, disgraceful leadership.
Buhari is doing well to fix our infrastructures, and every right thinking citizen must support him.
The presidency won't shy away from referencing the past disgraceful leadership of Jonathan because you feel ashamed about it.
See below pictures for a drop of how Buhari is demonstrating real responsibility and leadership.
You should be ashamed of yourself.
Gejs regime is 10,000 times better than ur dullard master who pays u to type falsehood online. ""Buhari is doing well to fix our infrastructures"" List buharis investments in Power sector and crude oil sector. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Octobertwentysix(f): 11:54am On Aug 06, 2021 |
Daniel61111:
Ur darling daddy & his inept committee of thieves are still singing this stale song since 2015....aren't you ashamed that things are worse now than they used to be ?
Everyday killings...insecurity na normal struvs nau
Prices of goods & food have skyrocketed
Let's not talk about transport..na Private enterprise dey build roads now 4 tax exemption.
Salaries are owned....strikes everywia
Seriously what has your darling daddy achieved?
Even the corruption he was foaming in the mouth that he would fight is in overdrive in his administration.
Nepotism everywhere...he is filling positions with incompetent people.
He is in london on medical tourism but u dey go chemist.
Who do you like this ?
When you go get sense this old man.
Don't waste your strength, the guy is the worst zombie even his fellow zombies are tired, but he keeps defending, he has no choice, cos his jobless and his only means of surviving is the 30k stipend. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Daniel61111: 11:57am On Aug 06, 2021 |
Na old man...na wetin tire me b that. The agbaya don pass 30yrs...but he still continues to support evil just cuz of crumbs Octobertwentysix:
Don't waste your strength, the guy is the worst zombie even his fellow zombies are tired, but he keeps defending, he has no choice, cos his jobless and his only means of surviving is the 30k stipend. 1 Like |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 12:06pm On Aug 06, 2021 |
Lollittaa:
stop talking like a fool Ah I see you are one of those people Good morning. I apologise. I thought I was having a discussion , not an abuse match Have a good and prosperous day |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by cooooooks(m): 12:09pm On Aug 06, 2021 |
Power in North America is ~$0.10/kWh. Going down to even $0.06/kWh for commercial users in some jurisdictions (Quebec, Canada). That is (at higher black market rates), N50/kWh. For power, we need to liberalise supply and bypass the TCN. Beancounter94:
Power and refineries are not working because Nigerians don't want to pay for petrol and power at market price.
Ideally, we should be paying N80 and above per kwh for power, and N350 and above for petrol. That would mean that the power and refineries make enough of a profit to work well enough and fix things.
But Nigerians don't want that...so power costs N49-71, AND PETROL costs N163 ...AND a subsidy is paid running into billions to cover loses...which at the end of the day is not sufficient.
Before you start...Niger is poorer than we are, yet their single 20000bpd refinery works because fuel costs N377 THERE....,meaning the refinery makes enough of a profit to work...and to export petrol to 3 African countries...Nigeria included.
1 Like |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 1:41pm On Aug 06, 2021 |
cooooooks:
Power in North America is ~$0.10/kWh. Going down to even $0.06/kWh for commercial users in some jurisdictions (Quebec, Canada).
That is (at higher black market rates), N50/kWh.
For power, we need to liberalise supply and bypass the TCN.
And it is higher in Nigeria because 1.It costs more to produce power in Nigeria. 2.Then there is the fact that a lot has to be fixed to guarantee 24 hour cost of power....adding to the cost.(When GSM came to Nigeria first time, we ended up spending higher for SIM and airtime,procceds which were used to build up the network we have now. Once it was up and running, prices dropped.) 3.Then there is the fact that we don't use cheaper sources of power like nuclear power for instance. 4.Additionally, at N50 per kwh, for 24 hours, an average US consumer would pay more. And thus US power companies have more profit than Nigerian companies. 5.Throw in the fact that at least 40% of Nigerian subscribers for power in Nigeria do not pay anything...they use the power illegally. That money is passed on to people who actually pay their power bills.That does not happen in the USA. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 2:13pm On Aug 06, 2021 |
cooooooks:
Power in North America is ~$0.10/kWh. Going down to even $0.06/kWh for commercial users in some jurisdictions (Quebec, Canada).
That is (at higher black market rates), N50/kWh.
For power, we need to liberalise supply and bypass the TCN.
you're wasting your time explaining to a paid BMC agent whose only concern is the monthly 30k stipend he gets by being an arsekisser.
Nigeria's refineries were built between 1985-88 yet have not been able to refine a drop of crude oil in almost 40 years yet beancounter94 is talking rubbish about subsidy. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by TheStarsAlign: 2:15pm On Aug 06, 2021 |
When a proposition does not require a response or reaction (either due to lack of substance, logic or sense) the appropriate reaction on the part of the receiver is to LAUGH OUT LOUD, SHAKE THEIR HEAD, ROLL ON THE FLOOR while singing the OK song.
By no means should one be tempted to engage with a warped mind because warpness is the fruit of that labour. A man who grew in a pit will only know darkness & dust; attempt to ‘paint’ the beautiful garden from the other side will trap their souls in mysery. Behold! it is but a piss in the wind.
—- Book of the Noble |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by seunayantokun(m): 3:23pm On Aug 06, 2021 |
Are these people so shameless, never tired of blaming Jonathan? With all their own evils everywhere? Is Jonathan not an angel now compared to them? |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by CoolAmbience(m): 5:17pm On Aug 06, 2021 |
Gambit23:
Gejs regime is 10,000 times better than ur dullard master who pays u to type falsehood online.
""Buhari is doing well to fix our infrastructures""
List buharis investments in Power sector and crude oil sector. Jonathan is better to you and your cohorts, who are lovers of corruption, not to Nigerians. Here is a list of Buhari's efforts / projects in the Power Sector. Show me Jonathan's. POWER AFRICA FINANCIALLY CLOSED TRANSACTIONS IN NIGERIA Updated: May 02, 2019 First Independent Power - Afam (Natural Gas – 180MW) Financial Close Date: 09/25/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $N/A Overview: The First Independent Power Limited/Afam power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID provided technical assistance to the Bureau of Public Enterprises (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Afam is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013. First Independent Power - Elema (Natural Gas – 75MW) Financial Close Date: 09/25/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $N/A Overview: The Elema Power Plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID supported the efforts to privatize the Elema Plant by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Elema (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013. First Independent Power - Omoka (Natural Gas – 25MW) Financial Close Date: 09/25/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $N/A Overview: The Omoka power plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement, project agreements, credit and reimbursement agreements, partial risk guarantees, letters of credit, and other related documentation. Incorporated in 2006, First Independent Power Limited (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria. The project reached financial close in September 2013. Kainji Power--Jebba Hydro Power Station (Privatized Asset) (Hydro – 96.4MW) Financial Close Date: 11/01/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $N/A Overview: Kainji Plc consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. Kainji Plc was part of Nigeria's efforts to restructure and reform the energy sector, which included privatization of state-owned energy assets. The Jebba plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. Those involved in the project included Guarantee Trust Bank and Power Africa Partners Africa Finance Corporation (AFC) and the African Development Bank, which committed to a $68 million debt financing facility to Mainstream Energy Solutions Limited consortium for the acquisition of the Kainji Power Plc. This project reached financial close in November 2013. Kainji Power--Kainji Hydro Power Station (Privatized Asset) (Hydro – 540MW) Financial Close Date: 11/01/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $456.5M Overview: The Kainji PLC was privatized as part of Nigeria's efforts to restructure and reform the energy sector. Kainji consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. The Kainji plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close on the project in November 2013. Olorunsogo I (Privatized Asset) (Natural Gas – 213.1MW) Financial Close Date: 12/23/2013 Commercial Operations Date: 11/30/2015 Estimated Project Cost: $117.3M Overview: The Olorunsogo I power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close in December 2013 and was commissioned in November 2015. Omotosho I (Privatized Asset) (Natural Gas – 74MW) Financial Close Date: 08/14/2014 Commercial Operations Date: 11/30/2015 Estimated Project Cost: $217.5M Overview: Power Africa deployed two embedded advisors (legal and commercial) and additional short-term technical assistance to the NDPHC in support of its efforts to finalize the privatization and sale process for five key Nigeria National Integrated Power Projects Plants (Independent Power Producer) by March 2018, including the Omotosho power plant. The Niger Delta Power Holding Company (NDPHC) estimates that the privatization of the five plants will yield up to an additional 1,700 MW. USAID has also assisted the Bureau of Public Enterprises in this privatization exercise as well as the Nigerian Bulk Electricity Trading (NBET) Plc. through its PPA negotiations. Sapele Power (Privatized Asset) (Natural Gas – 940MW) Financial Close Date: 11/01/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $434M Overview: This transaction was part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the BPE and NBET. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. Ughelli Power (Privatized Asset) (Natural Gas – 220MW) Financial Close Date: 11/01/2013 Commercial Operations Date: 09/30/2015 Estimated Project Cost: $600M Overview: The Ughelli Power Plant was privatized and ownership was transferred from the government of Nigeria to Transcorp Power Limited. Ughelli Plant is a gas-fired thermal plant located in Ughelli, Delta State in the Niger Delta region of Nigeria, and is an asset of Transnational Corporation of Nigeria Plc. (Transcorp)’s power subsidiary, Transcorp Ughelli Power Limited. USAID supported the project through options for credit-enhanced long-term financing. Other partners included the United Bank of Africa. This project reached financial close in November 2013 and was commissioned in September 2015. Azura-Edo (Natural Gas – 450MW) Financial Close Date: 12/28/2015 Commercial Operations Date: 12/31/2018 Estimated Project Cost: $600M Overview: Power Africa’s engagement on this transaction has been extensive. Initially, through its support to Nigerian Bulk Electricity Trading (NBET), Power Africa assisted with the power purchasing agreement negotiations, and with the development of the Put/Call Option Agreement, which was adopted in lieu of a government guarantee. In 2015, the U.S. Government worked to facilitate President Buhari’s decision to waive compliance with a Presidential circular for the project. Power Africa transaction advisors helped with the final steps needed for the transaction to reach financial close. Aldwych, a Power Africa partner and the Overseas Private Investment Corporation teamed up to bring the Azura gas project to financial close. The World Bank’s Multilateral Investment Guarantee Agency (MIGA) and additional Power Africa Partners also played critical roles towards financial close. Egbin Power (Privatized Asset) (Natural Gas – 220MW) Financial Close Date: 11/01/2013 Commercial Operations Date: 12/29/2017 Estimated Project Cost: $407.3M Overview: Egbin Power Project is a result of the Bureau of Public Enterprises (BPE) (Nigeria) privatization of the country’s largest power company, Egbin Power PLC. The company is now 70 percent owned by a joint venture between Korea Electric Power Corp and the Sahara Group conglomerate (Nigeria), which has interests in power distribution. The other 30% is held by the Government of Nigeria. The Egbin Power Project restored 220 MW of lost generation capacity from under-investment. USAID worked with NBET to finalize the PPA to permit privatization. This project achieved financial close in November 2013. Sources: https://www.doingbusiness.org/en/rankings (link is external) https://data.worldbank.org/country/nigeria (link is external) https://www.iea.org/reports/sdg7-data-and-projections/access-to-electricity (link is external) Last updated: March 04, |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Nobody: 6:02pm On Aug 06, 2021 |
CoolAmbience:
Jonathan is better to you and your cohorts, who are lovers of corruption, not to Nigerians.
Here is a list of Buhari's efforts / projects in the Power Sector. Show me Jonathan's.
POWER AFRICA FINANCIALLY CLOSED TRANSACTIONS IN NIGERIA
Updated: May 02, 2019
First Independent Power - Afam (Natural Gas – 180MW)
Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The First Independent Power Limited/Afam power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID provided technical assistance to the Bureau of Public Enterprises (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Afam is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013.
First Independent Power - Elema (Natural Gas – 75MW)
Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The Elema Power Plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID supported the efforts to privatize the Elema Plant by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Elema (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013.
First Independent Power - Omoka (Natural Gas – 25MW)
Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The Omoka power plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement, project agreements, credit and reimbursement agreements, partial risk guarantees, letters of credit, and other related documentation. Incorporated in 2006, First Independent Power Limited (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria. The project reached financial close in September 2013.
Kainji Power--Jebba Hydro Power Station (Privatized Asset) (Hydro – 96.4MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: Kainji Plc consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. Kainji Plc was part of Nigeria's efforts to restructure and reform the energy sector, which included privatization of state-owned energy assets. The Jebba plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. Those involved in the project included Guarantee Trust Bank and Power Africa Partners Africa Finance Corporation (AFC) and the African Development Bank, which committed to a $68 million debt financing facility to Mainstream Energy Solutions Limited consortium for the acquisition of the Kainji Power Plc. This project reached financial close in November 2013.
Kainji Power--Kainji Hydro Power Station (Privatized Asset) (Hydro – 540MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $456.5M
Overview: The Kainji PLC was privatized as part of Nigeria's efforts to restructure and reform the energy sector. Kainji consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. The Kainji plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close on the project in November 2013.
Olorunsogo I (Privatized Asset) (Natural Gas – 213.1MW)
Financial Close Date: 12/23/2013
Commercial Operations Date: 11/30/2015
Estimated Project Cost: $117.3M
Overview: The Olorunsogo I power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close in December 2013 and was commissioned in November 2015.
Omotosho I (Privatized Asset) (Natural Gas – 74MW)
Financial Close Date: 08/14/2014
Commercial Operations Date: 11/30/2015
Estimated Project Cost: $217.5M
Overview: Power Africa deployed two embedded advisors (legal and commercial) and additional short-term technical assistance to the NDPHC in support of its efforts to finalize the privatization and sale process for five key Nigeria National Integrated Power Projects Plants (Independent Power Producer) by March 2018, including the Omotosho power plant. The Niger Delta Power Holding Company (NDPHC) estimates that the privatization of the five plants will yield up to an additional 1,700 MW. USAID has also assisted the Bureau of Public Enterprises in this privatization exercise as well as the Nigerian Bulk Electricity Trading (NBET) Plc. through its PPA negotiations.
Sapele Power (Privatized Asset) (Natural Gas – 940MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $434M
Overview: This transaction was part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the BPE and NBET. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation.
Ughelli Power (Privatized Asset) (Natural Gas – 220MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 09/30/2015
Estimated Project Cost: $600M
Overview: The Ughelli Power Plant was privatized and ownership was transferred from the government of Nigeria to Transcorp Power Limited. Ughelli Plant is a gas-fired thermal plant located in Ughelli, Delta State in the Niger Delta region of Nigeria, and is an asset of Transnational Corporation of Nigeria Plc. (Transcorp)’s power subsidiary, Transcorp Ughelli Power Limited. USAID supported the project through options for credit-enhanced long-term financing. Other partners included the United Bank of Africa. This project reached financial close in November 2013 and was commissioned in September 2015.
Azura-Edo (Natural Gas – 450MW)
Financial Close Date: 12/28/2015
Commercial Operations Date: 12/31/2018
Estimated Project Cost: $600M
Overview: Power Africa’s engagement on this transaction has been extensive. Initially, through its support to Nigerian Bulk Electricity Trading (NBET), Power Africa assisted with the power purchasing agreement negotiations, and with the development of the Put/Call Option Agreement, which was adopted in lieu of a government guarantee. In 2015, the U.S. Government worked to facilitate President Buhari’s decision to waive compliance with a Presidential circular for the project. Power Africa transaction advisors helped with the final steps needed for the transaction to reach financial close. Aldwych, a Power Africa partner and the Overseas Private Investment Corporation teamed up to bring the Azura gas project to financial close. The World Bank’s Multilateral Investment Guarantee Agency (MIGA) and additional Power Africa Partners also played critical roles towards financial close.
Egbin Power (Privatized Asset) (Natural Gas – 220MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $407.3M
Overview: Egbin Power Project is a result of the Bureau of Public Enterprises (BPE) (Nigeria) privatization of the country’s largest power company, Egbin Power PLC. The company is now 70 percent owned by a joint venture between Korea Electric Power Corp and the Sahara Group conglomerate (Nigeria), which has interests in power distribution. The other 30% is held by the Government of Nigeria. The Egbin Power Project restored 220 MW of lost generation capacity from under-investment. USAID worked with NBET to finalize the PPA to permit privatization. This project achieved financial close in November 2013.
Sources:
https://www.doingbusiness.org/en/rankings (link is external)
https://data.worldbank.org/country/nigeria (link is external)
https://www.iea.org/reports/sdg7-data-and-projections/access-to-electricity (link is external)
Last updated: March 04,
Is the economy better today than it was in 2014? |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by CoolAmbience(m): 6:37pm On Aug 06, 2021 |
deavicky:
I'm ashamed of you, who tell u building bridges, railings, and airport in what we need to develop. What happens to power sector, refinery and security. Do you know how much they claim to spend monthly on fuel subsidy?. Do you know what insecurity is causing our brother up north, many of them can no longer go to their farms or school(I hope u know what that means to the society and economy at large) Do u also know how many businesses had left Nigeria because of electricity and how many small businesses that had been closed or can never start because of electricity. I can go on and on to educate u on this but for the sake of argument let me allow u be.
We know the economy need revamping that is why Buhari and APC was voted to power, instead they became worse then the previous. What makes you think nothing has been achieved in the sectors you mentioned? So much has been achieved in the Power and Petroleum Refining sectors. I do not know the hole you live in, that keeps you away from the current developmental realities. More than six modular refineries have been built in Nigeria, including the Waltersmith Modular Refinery in Ohaji-Egbema in Imo State. I have also shared the link for the 1.56MW Solar Power Plant commissioned by President Buhari, among several others. As for security, travel to Borno today and find out what is going on. Farmers, in their thousands, are back in their farms. You seem to have forgotten that under Jonathan, Boko Haram were so bold to the extent that they came down to the nation's capital to blow up the UN Building, Banex Plaza, Nyanya Motor park, and an attempt at the Nigerian Police Force Head Quarters. But for Buhari's effort in boosting rice production, someone like you would have been sold off, during the lockdown last year, to raise money for food. Tell me how Nigerians would have survived with all the restrictions put across the world. https://www.energyvoice.com/oilandgas/africa/refining-africa/281296/buhari-waltersmith-modular-refinery/amp/https://www.vanguardngr.com/2021/07/buhari-commissions-1-52mw-solar-power-plant/amp/ |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by CoolAmbience(m): 6:40pm On Aug 06, 2021 |
deavicky:
I'm ashamed of you, who tell u building bridges, railings, and airport in what we need to develop. What happens to power sector, refinery and security. Do you know how much they claim to spend monthly on fuel subsidy?. Do you know what insecurity is causing our brother up north, many of them can no longer go to their farms or school(I hope u know what that means to the society and economy at large) Do u also know how many businesses had left Nigeria because of electricity and how many small businesses that had been closed or can never start because of electricity. I can go on and on to educate u on this but for the sake of argument let me allow u be.
We know the economy need revamping that is why Buhari and APC was voted to power, instead they became worse then the previous. List the companies that have left Nigeria. You talk of the North...do you know anything about the North? You guys just sit somewhere and type nonsense believing you know Nigeria. Mtchewww. 1 Like |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by tobatele(m): 6:42pm On Aug 06, 2021 |
Awon ala i ni kan se.
Everytime,they blame their failures on others.
After how many years? |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Classickj(m): 8:25pm On Aug 06, 2021 |
Sirjamo:
No president can match Jonathan in terms of sorrow and agony. He and his useless Poverty Development Party created Boko haram, Bandits, Kidnappers. Fulani herdsmen killings excalated on their watch. Bandits, Kidnappers. Fulani herdsmen killingsexcalated on their watch. You are truly high on cheap drug |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by Gambit23: 8:51pm On Aug 06, 2021 |
CoolAmbience:
Jonathan is better to you and your cohorts, who are lovers of corruption, not to Nigerians.
Here is a list of Buhari's efforts / projects in the Power Sector. Show me Jonathan's.
POWER AFRICA FINANCIALLY CLOSED TRANSACTIONS IN NIGERIA
Updated: May 02, 2019
First Independent Power - Afam (Natural Gas – 180MW)
Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The First Independent Power Limited/Afam power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID provided technical assistance to the Bureau of Public Enterprises (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Afam is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013.
First Independent Power - Elema (Natural Gas – 75MW)
Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The Elema Power Plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID supported the efforts to privatize the Elema Plant by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Elema (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013.
First Independent Power - Omoka (Natural Gas – 25MW)
Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The Omoka power plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement, project agreements, credit and reimbursement agreements, partial risk guarantees, letters of credit, and other related documentation. Incorporated in 2006, First Independent Power Limited (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria. The project reached financial close in September 2013.
Kainji Power--Jebba Hydro Power Station (Privatized Asset) (Hydro – 96.4MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: Kainji Plc consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. Kainji Plc was part of Nigeria's efforts to restructure and reform the energy sector, which included privatization of state-owned energy assets. The Jebba plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. Those involved in the project included Guarantee Trust Bank and Power Africa Partners Africa Finance Corporation (AFC) and the African Development Bank, which committed to a $68 million debt financing facility to Mainstream Energy Solutions Limited consortium for the acquisition of the Kainji Power Plc. This project reached financial close in November 2013.
Kainji Power--Kainji Hydro Power Station (Privatized Asset) (Hydro – 540MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $456.5M
Overview: The Kainji PLC was privatized as part of Nigeria's efforts to restructure and reform the energy sector. Kainji consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. The Kainji plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close on the project in November 2013.
Olorunsogo I (Privatized Asset) (Natural Gas – 213.1MW)
Financial Close Date: 12/23/2013
Commercial Operations Date: 11/30/2015
Estimated Project Cost: $117.3M
Overview: The Olorunsogo I power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close in December 2013 and was commissioned in November 2015.
Omotosho I (Privatized Asset) (Natural Gas – 74MW)
Financial Close Date: 08/14/2014
Commercial Operations Date: 11/30/2015
Estimated Project Cost: $217.5M
Overview: Power Africa deployed two embedded advisors (legal and commercial) and additional short-term technical assistance to the NDPHC in support of its efforts to finalize the privatization and sale process for five key Nigeria National Integrated Power Projects Plants (Independent Power Producer) by March 2018, including the Omotosho power plant. The Niger Delta Power Holding Company (NDPHC) estimates that the privatization of the five plants will yield up to an additional 1,700 MW. USAID has also assisted the Bureau of Public Enterprises in this privatization exercise as well as the Nigerian Bulk Electricity Trading (NBET) Plc. through its PPA negotiations.
Sapele Power (Privatized Asset) (Natural Gas – 940MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $434M
Overview: This transaction was part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the BPE and NBET. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation.
Ughelli Power (Privatized Asset) (Natural Gas – 220MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 09/30/2015
Estimated Project Cost: $600M
Overview: The Ughelli Power Plant was privatized and ownership was transferred from the government of Nigeria to Transcorp Power Limited. Ughelli Plant is a gas-fired thermal plant located in Ughelli, Delta State in the Niger Delta region of Nigeria, and is an asset of Transnational Corporation of Nigeria Plc. (Transcorp)’s power subsidiary, Transcorp Ughelli Power Limited. USAID supported the project through options for credit-enhanced long-term financing. Other partners included the United Bank of Africa. This project reached financial close in November 2013 and was commissioned in September 2015.
Azura-Edo (Natural Gas – 450MW)
Financial Close Date: 12/28/2015
Commercial Operations Date: 12/31/2018
Estimated Project Cost: $600M
Overview: Power Africa’s engagement on this transaction has been extensive. Initially, through its support to Nigerian Bulk Electricity Trading (NBET), Power Africa assisted with the power purchasing agreement negotiations, and with the development of the Put/Call Option Agreement, which was adopted in lieu of a government guarantee. In 2015, the U.S. Government worked to facilitate President Buhari’s decision to waive compliance with a Presidential circular for the project. Power Africa transaction advisors helped with the final steps needed for the transaction to reach financial close. Aldwych, a Power Africa partner and the Overseas Private Investment Corporation teamed up to bring the Azura gas project to financial close. The World Bank’s Multilateral Investment Guarantee Agency (MIGA) and additional Power Africa Partners also played critical roles towards financial close.
Egbin Power (Privatized Asset) (Natural Gas – 220MW)
Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $407.3M
Overview: Egbin Power Project is a result of the Bureau of Public Enterprises (BPE) (Nigeria) privatization of the country’s largest power company, Egbin Power PLC. The company is now 70 percent owned by a joint venture between Korea Electric Power Corp and the Sahara Group conglomerate (Nigeria), which has interests in power distribution. The other 30% is held by the Government of Nigeria. The Egbin Power Project restored 220 MW of lost generation capacity from under-investment. USAID worked with NBET to finalize the PPA to permit privatization. This project achieved financial close in November 2013.
Sources:
https://www.doingbusiness.org/en/rankings (link is external)
https://data.worldbank.org/country/nigeria (link is external)
https://www.iea.org/reports/sdg7-data-and-projections/access-to-electricity (link is external)
Last updated: March 04,
Mumu, why are u listing private power firms aasbuharis achievement? Are u Madt? Paid dolts everywhere |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by cooooooks(m): 10:00pm On Aug 06, 2021 |
1. Cost is not the issue, transmission is. We have installed capacity of more than 10,000 MW but the TCN can't handle more than 3,000 MW. 2. We have very low SIM and data costs. Less than $1. GSM has been in the country for just 2 decades. 3. Hydropower, which we have, is the cheapest electricity generation mode. Nuclear is the most expensive for baseloads. Natural gas/clean coal is the next cheapest. We actually have the cheapest forms of power generation. 4. Nigerians pay more with generators, even kerosen lamps are more expensive /kWh or even /lumens (measuring light) than electricity. 5. TCN can't transmit 10% of the country's real power needs. Whatever 'connections' being made are not the cause of TCN's fundamental incapability. We need private transmission. It needs to be liberalised. That will necessitate investment. Right now, no one can invest in transmission. Beancounter94:
And it is higher in Nigeria because
1.It costs more to produce power in Nigeria.
2.Then there is the fact that a lot has to be fixed to guarantee 24 hour cost of power....adding to the cost.(When GSM came to Nigeria first time, we ended up spending higher for SIM and airtime,procceds which were used to build up the network we have now. Once it was up and running, prices dropped.)
3.Then there is the fact that we don't use cheaper sources of power like nuclear power for instance.
4.Additionally, at N50 per kwh, for 24 hours, an average US consumer would pay more. And thus US power companies have more profit than Nigerian companies.
5.Throw in the fact that at least 40% of Nigerian subscribers for power in Nigeria do not pay anything...they use the power illegally. That money is passed on to people who actually pay their power bills.That does not happen in the USA. |
| Re: Sylva: Jonathan Packaged, Handed Over A Broken Economy To Buhari In 2015 by cooooooks(m): 10:01pm On Aug 06, 2021 |
Unfortunately, every point that the responder made was very false. I don't think the person knows what the actual fundamental incapabilities are and needs to read more. Lollittaa:
you're wasting your time explaining to a paid BMC agent whose only concern is the monthly 30k stipend he gets by being an arsekisser.
Nigeria's refineries were built between 1985-88 yet have not been able to refine a drop of crude oil in almost 40 years yet beancounter94 is talking rubbish about subsidy. 1 Like |
