nihilistjnr:


How big is your house bro?

I live in a 5 bed house which is similarly sized to the typical Nigerian duplex and this is how much I was paying before winter cold kicked in. We try to be quite prudent in our electricity use, but still the energy prices are murdering me right now.

In Naira terms, that's too uncomfortably close to a million naira in monthly expenditure on my Nepa bill.

izzou:


Obainojazz bill is less than $100

So, I shouldn't use his?

Let me not even get started with the fact that we are adopting a pre paid metering system

GloriousGbola:


are the variables the same?
same size domain? same occupancy?

the missus and kids travelled during xmas leaving me alone in the house. we buy water. the water that is gone in 5 days lasted me two and a half weeks as an example

also Australia has no winter which is an inescapable energy cost

izzou:


Obainojazz bill is less than $100

So, I shouldn't use his?

Let me not even get started with the fact that we are adopting a pre paid metering system

GloriousGbola:


are the variables the same?
same size domain? same occupancy?

the missus and kids travelled during xmas leaving me alone in the house. we buy water. the water that is gone in 5 days lasted me two and a half weeks as an example

also Australia has no winter which is an inescapable energy cost

afrodoc2:


Omo! Is it tax deductible??

nihilistjnr:


I suspect Obaino lives in a small flat, and maybe uses gas and other things. I don't know. He will be the one to shed more light on that.

Besides I don't know if you saw the bill he posted.
The monthly bill on that was $279, so I'm.not sure how you arrived at less than a 100. The average daily cost listed on his bill was $7.53.

AUD to Naira is like N400-500/AUD, so that's well over 100k a month.

By the time you start to scale to potentially bigger houses and businesses, you can guess what those figures would begin to look like.

Either way, my point of posting my bill was to show you unsubsidised energy costs could look like. Not everybody will end up racking up similar costs, but bruh I'm telling you if FG dares remove its hand from subsidising energy, there will be bloodshed and riots immediately

nihilistjnr:


Because I work from home, I try to offset like 3-4k annually from the bill.

GloriousGbola:


it is starting

i was at the ekedp office on friday a week ago. people were very agitated - 200-300% increase in bill

izzou:


They are agitated because they are billed what they didn't use.

Have you seen any prepaid customer agitated before?

nihilistjnr:


Besides I don't know if you saw the bill he posted.
The monthly bill on that was $279, so I'm.not sure how you arrived at less than a 100. The average daily cost listed on his bill was $7.53.

AUD to Naira is like N400-500/AUD, so that's well over 100k a month.

Either way, my point of posting my bill was to show you unsubsidised energy costs could look like. Not everybody will end up racking up similar costs, but bruh I'm telling you if FG dares remove its hand from subsidising energy, there will be bloodshed and riots immediately

GloriousGbola:


it is starting

i was at the ekedp office on friday a week ago. people were very agitated - 200-300% increase in bill

Over 10 million registered consumers in Nigeria might have used electricity worth N1.091trn in 16 months between January 2021, and April 2022, according to the payment invoices submitted by the GenCos to NBET and reviewed by Daily Trust.

The 11 DisCos, which got the electricity and supplied it to their customers paid N600.9bn of the invoices, leaving a N490.1bn shortfall, a common problem in the industry requiring government intervention to prevent system collapse.

To avoid a shutdown in operations due to the N490bn backlog, NBET, through the Central Bank of Nigeria (CBN), intervened with PAF and expended N247bn in 2021.

This intervention raised the Nigerian Electricity Market (NEM) payment to the GenCos to N847.8bn for the 16 months.

However, there is still a shortfall of N243.2bn that was not paid to the GenCos.

GloriousGbola:


there you go.

once you work from home - you energy bill will go up. normally if husband and wife are working, the house is in a low power state from 8.30m to 1-3pm depending on kids age and school.

if you are single and working the house is online from 4pm to 8am - and then nothing more than two rooms at the most.

nihilistjnr:



This is what capitalism looks like - murderous

Olowunl01:


Many Nigerians would pay the market rate for steady Electricity, most households are indirectly paying close to this on fuel/diesel. It will force them to cut their usage, like Gloriousgbola alluded - cos most places I have been, stuffs are turned on even when not in use.

Got back from Naija few weeks ago, was buying Diesel 50L for N40k every 2nd day... in addition to servicing and noise, paying N150K per month for steady electricity would be a bargain. Also some estates in Naija pay more than these monthly to get some semblance of steady supply.

nihilistjnr:


It shouldn't go up like this bro. I use a couple laptops and some screens. Every other appliance is off. Price gouging has gone through the roof since the war started. Businesses are actually shutting down because they cant afford power. Families are currently having to choose between heating and feeding, even as all the energy suppliers declare bumper profits.

This is what capitalism looks like - murderous

Theflint1:
Which system benefits the general populace more, a capitalist system or whatever it is Nigeria is currently practising?

Theflint1:
Which system benefits the general populace more, a capitalist system or whatever it is Nigeria is currently practising?

nihilistjnr:


The vast majority of Nigerians cannot afford 150k a for just electricity. Bro, I promise you that.
DisCos recorded a 400 billion naira shortfall last year after supplying electricity that wasn't paid for.

FOUR HUNDRED BILLION NAIRA.

Think about it.

nihilistjnr:


It's why i keep saying the country is doomed. The average Nigerian lives a life that is heavily subsidised by a government that can scarcely afford to do so. The general business culture encourages exploitative practices and establishment of monopolies, whilst the absymal purchasing power of the Naira and it's holders means that most cannot afford to pay fair value for the amenities and services they need.

There isn't a way out that I can see. It also doesn't help that this election is being contested by a trio of uber-capitalist sharks.

I have no faith in anything bro

GloriousGbola:


The problem with capitalism imho is that it has become everything marx warned about. When there was a soviet Union, it had to be demonstrated that capitalism was a viable alternative that gave people a good life. Today it is almost the only game in town and is being driven by way too much greed. And in America because of lax campaign funding laws they are literally able to shape the very fabric of society.

Theflint1:
You realize this 400 billion Naira comes to about 10K average for a family of five, assuming we're 200M persons, yea?

Donjazet2:


But European countries have a healthy mix of capitalism and Democratic socialism.

The Nordic countries most especially continue to be a shining light of what Democratic socialism should be. A mix of capitalism and responsible welfare.

The only question that has been asked is if their model can work in a much larger population seeing as most of their countries are under 10 to 15 million population.

Havertz10 what do you think?

I'm sure you're leaning towards Chinese communism.

Theflint1:
You realize this 400 billion Naira comes to about 10K average for a family of five, assuming we're 200M persons, yea?

Olowunl01:
If Ghana can provide steady electricity and its citizens afford to pay, I disagree with the notion that Nigerians wont be able to afford it, Ghanians are even paying VAT on top.

All these figures quoted by discos as subsidy are just paddy paddy payments to connected people; Let everyone get prepaid meter - and let the bloody thing pay for it self? What exactly are we paying subsidy for? New Generation or New Transmission? Improved availability?
Let the government charge prevailing market rates for the power its asset are generating...

GloriousGbola:


So every man with a family pays 50 k for nepa for starters.

Then add fuel subsidy
Then add Nigerian University
Then add road fund
Add all those China loans

nihilistjnr:


The vast majority of Nigerians cannot afford 150k a for just electricity. Bro, I promise you that.
DisCos recorded a 400 billion naira shortfall last year after supplying electricity that wasn't paid for.

FOUR HUNDRED BILLION NAIRA.

Think about it.

nihilistjnr:


How did you work this out?

Maybe you haven't read my previous post. 1 trillion naira worth of power was distributed to 10 million registered consumers, and the shortfall in payment was 400 billion naira.

That's 400 billion naira that wasn't paid to FG to pay the GenCos. That's 400 billion that FG had to find from somewhere to pay the GenCos

Olowunl01:

Bro, the average Nigerian has leaves home at ungodly 4am and doesnt get back home until 10pm... His usage is very minimal and Bro at 0.30cent using the Aussie rate his monthly payment would be way less than even 50k per month.
Now when we talk about the middle class where you and me fall into, I calculated how much I spent on diesel in 2weeks if not for family reasons I would reconsider my decision to not stay in a hotel