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Nairaland Forum / Nairaland / General / Politics / FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom (16430 Views)
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FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 2:03pm On Oct 28, 2017 |
By Clement Nwoji http://allafrica.com/stories/201710270064.html When in doubt, give it to Fashola. Kudos.. 7 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Desyner: 2:09pm On Oct 28, 2017 |
This is what I have always advocated. More power plants in the SS to minimize pipeline length from gas source and all its associated challenges like vandalism maintenance. 16 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Desyner: 2:12pm On Oct 28, 2017 |
The larger they come the better. We need more large power plant like this. 2 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Blue3k(m): 2:12pm On Oct 28, 2017 |
Two power plants in Akwa ibom that's cool. This power plant plus the phase 2 upgrades to Ibom power plant should get the state closer to its industrialization goals. The power plant also unlocks investment in transmission infrastructure, including a new 58 kilometres transmission line to be built by QIPP This great development seeing how a lot of power lost in transmission. Fashola has been doing well for the state. This deal and other agreements to power local governments. Front Page: lalasticlala 10 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 2:43pm On Oct 28, 2017 |
It is also worthy of note that exon Mobil will be taking over ibom Power plant, Hopefully they gonna also expand it. 4 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Spylord48: 2:50pm On Oct 28, 2017 |
Signing of MOU isn't the problem. The problem is will the project be actualized or will they commission it on paper as usual? 57 Likes 1 Share
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Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Blue3k(m): 2:52pm On Oct 28, 2017 |
arinzeejikonye: They managing it now? No need to hope the state already has plans on expanding that one. Deomelo you didn't post whole story. Key pices of info left out. This probably why they feel it's paper project. If they dot see time frame. The project will continue with the advancement of its project finance programme and seek to reach financial close in second half of 2018. QIPP is expected to commence construction shortly thereafter and commercial operations in second half of 2021. Front Page: lalasticlala 3 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 3:00pm On Oct 28, 2017 |
Spylord48: This is not an MOU and the folk involved are serious players. QIPP was jointly developed by African energy infrastructure company, Black Rhino Group, Dangote Group and the NNPC 19 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Spylord48: 3:03pm On Oct 28, 2017 |
deomelo: Na today? As far as it involves government don't put your hopes high because of bureaucracy. Some people somewhere who are gaining from the 24hrs darkness everywhere will fight tooth and nail to frustrate the plan. Most people will only believe when the project is 99.9% completed and working too 15 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 3:03pm On Oct 28, 2017 |
[quote author=Blue3k post=61851835] They managing it now? No need to hope the state already has plans on expanding that one. That's nice, Power generation is no bean cake. |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Obi1kenobi(m): 3:05pm On Oct 28, 2017 |
This is interesting considering the $1.1 billion bill for 540 MW. Gas-powered plants are one of the cheapest to build (considerably cheaper than coal plants) and the median costs for most gas plants in developing countries is about $1000 per KW. So you'd expect a bill of between $500m to $600m for this particular plant. But in this country where every infrastructural project seems to be absurdly inflated, it's no surprise it's costing double that. And it's apparently one of the cheapest. You look at the cost of the Ikoyi link bridge or Kwankwaso's Kano flyover, or the projected costs for the 2nd Niger Bridge, or the projected costs for the interstate rail projects per km (or even Lagos' rail project and Amaechi and Duke's monorails) compared to similar projects in countries like Tanzania, Ethiopia etc and something is terribly wrong with the process in awarding these contracts. So many rotten scumbags feeding fat off the country. 35 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 3:08pm On Oct 28, 2017 |
The problem with investors and their inability to invest in the power sectors remains clear and well defined regulatory path and ability to benefit from investment, it's always been a murky and negative path for power investments. What Fashola is doing here is clearing that path for the parties involved from regulatory to clear definition per who is going to handle what and who is going to supply raw materials like gas and so on. This is the kind of clear and vision driven formula need in the power sector and I see other power investors stepping in based on the same formula and pathways. 20 Likes 4 Shares |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 3:10pm On Oct 28, 2017 |
Siemens too just did road show advert for their Mobile embedded units of ipp, Sgt A45,for 44megawatts, Light up lagos about to key in, with many captains of industry in the private sector. Multidimensional turbines 3 Likes 1 Share
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Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 3:26pm On Oct 28, 2017 |
Obi1kenobi: That cost the LASG N29 billion which they have or almost recouped from toll fees. You can not reach any kind of conclusion per the cost of projects without sensible and critical analysis concerning every cost aspect of the project involved from cost of land to cost of equipment and machinery, importation and transportation of machinery and equipment that we obviously doesn't manufacture, cost of local and imported labor and if I might add, there is still the cost of added 58 kilometres transmission line that you obviously overlooked. Bring forth your documented cost analysis per this project and your so called similar projects in the same business and cost environment for us to analyze and compare, until you are able to do that, you are just spewing breeze, ignorance and baseless assertions. 17 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by obailala(m): 3:31pm On Oct 28, 2017 |
Obi1kenobi:I totally agree with you; $1.1billion for a 540mw gas plant absolutely doesn't add up. 5 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 3:35pm On Oct 28, 2017 |
obailala: Based on what? Are you a power plant engineer or expert or it's the same NL look and comment without facts? 15 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 3:46pm On Oct 28, 2017 |
One good thing I commend this project is that it has a defined logistics of its gas to power infrastructure, But same cannot be said for the newly completed kaduna 215mw plant, It is lying idle, with no gas to feed the plant, The other time fashola opted for diesel against gas for the plant, guess the unavailability of ajaokuta - Abuja-kaduna-kano gas pipeline infrastructure is the major cause, presently no one can give a certain clarification on the position of the East-West gas pipeline project too.
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Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Blue3k(m): 4:05pm On Oct 28, 2017 |
arinzeejikonye: This reminds me of sokoto power plant state built. I haven't heard any updates after their test run of the plant. It's sup posed to run on diesel and have ability to run of cheaper fuel sources I remember. The issue was it was more 3 times more expensive than the others in region if it runs off trucked diesel. 5 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Obi1kenobi(m): 4:08pm On Oct 28, 2017 |
deomelo: Thanks for stating the obvious, genius. I certainly wouldn't have figured that one out myself. If you could have taken a deep breath before the typically cantankerous response (probably trying to provoke your hourly staple of tribal e-battles), I was referring to a general trend of inflated project costs for everything from roads to bridges and tunnels, to rail lines and other public infrastructure. And no, it's a weekend and I have better ways (or rather, more fun ways) to spend my time today than posting "documented cost analysis" and having a tedious back-and-forth. My comment came from the experience of having compared project costs with other African countries before, but I have no time or desire to rehash them. Believe what you want. 22 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Obi1kenobi(m): 4:12pm On Oct 28, 2017 |
arinzeejikonye: The North has some major hydo-electric projects coming on-stream doesn't it? They also have a comparative advantage in utilizing solar and wind power compared to the South. Pipelines are expensive to lay for thousands of miles and I'm not sure why they'd be building gas-powered thermal plants without factoring the logistics of gas supply. 7 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by aribisala0(m): 4:18pm On Oct 28, 2017 |
Desyner:Pipeline length from gas source is not the issue if it was people would not invest billions in LNG which more than doubles the price. There are dozens of factors to consider and to somehow make that the most important is strange I do not see the logic about how this reduces vandalism? Vandalism again is a multifactorial issue bjut primarily it has to do with PEOPLE and the MOTIVATION for their action chief of which is unemployment which derives partly from poor education and training as well as the politics of the Nigerian question. Afterall there are pipeline all the way to Ghana.There are pipelines from Russia to Europe longer than Nigeria. If Nigeria were to industrialize there must be gas pipelines across the whole country even if not for power plant for cooking or are we to cook with kerosene for ever while Europeans cook comfortably with Nigerian gas? Even countries that have no gas AT ALL and use NIGERIAN GAS have extensive pipelines. It is not pipeline length that is the issue. Gas pipes are very very deep compare to oil or petrol and are often vandalized at source or pumping stations We need to always look at the big picture. Even if you have power plants in Akwa Ibow what about the electricity generated will it not enter a transmission network.Could that not be vandalized if the motivation to do that is there ? Why is that motivation so high in Nigeria and not in Qatar or Algeria? 13 Likes 2 Shares |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 4:19pm On Oct 28, 2017 |
[s] Obi1kenobi:[/s] Stop compounding your ignorant and baseless silly assertions with more ignorant and equally silly assertions. If you are going to dispute cost based on similar endeavors in other environments, common sense dictates that you show facts, figures and relating factors to support your claims with and without these facts, you are just spewing ignorant trash. This is the problem with you Igbos, you hate and criticize without facts, you just spew trash especially over what's not sited in your village. Show facts to back up your views with or just keep quiet. Do you really we are all ignorant like your co-hateful and ignorant Igbos clapping over your silly and pointless jargon. Oh yes, it's the weekend to make baseless assertions, but not the weekend to back up your assertions with facts. How funny can you people be sometimes. 15 Likes 2 Shares |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Bizibi(m): 4:22pm On Oct 28, 2017 |
deomelo:next two years I will dig this thread up. 4 Likes 1 Share |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Blue3k(m): 4:23pm On Oct 28, 2017 |
Bizibi: Make it 3 the project supposed to be ready 2021. 4 Likes |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 4:27pm On Oct 28, 2017 |
Obi1kenobi: That is the lacuna, right there, The both the power and gas supply infrastructure are supposed to be considered and built simultaneously, because they are complementary to each other, There is a clear possibility political undertones to these issues, Truly solar and dams are under construction, Kaduna and Kano signed mou for them, but can't tell if it's materialization is any thing to go by as a feasible tangibility presently, The infrastructural deficit is so huge in the country, every bit of power is needed, may that is why they are contemplating receiving gas from neighboring niger. 1 Like |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 4:33pm On Oct 28, 2017 |
Blue3k: Its really astonishingly bewildering, May be it is tied to political hydra headed dimension, I feel it could be one of the reasons the north insistently keep searching to discover and explore oil in large commercial quantities, in benue thorough, Chad Basin, etc So that the south would not hang their necks with dependency on them for gas, I am only pensively ruminating, However, like Obi1kenobi said, Hydroelectric dams, solar and wind will do greatly in the north as well. 1 Like |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by deomelo: 4:35pm On Oct 28, 2017 |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by itiswellandwell: 4:36pm On Oct 28, 2017 |
Hmmmmm |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Uyi168: 4:38pm On Oct 28, 2017 |
we've been hearing stuffs like this for eternity now..all na wash.. 1 Like |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Nobody: 4:38pm On Oct 28, 2017 |
We no want,make dem share the money equally to every man,we go continue dey run generator and candle,cos this una format no go pass us by this time |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by AroOkigbo(m): 4:39pm On Oct 28, 2017 |
I will only celebrate when it comes online |
Re: FG Signs Pact To Build $1 Billion Power Plant In Akwa Ibom by Obi1kenobi(m): 4:39pm On Oct 28, 2017 |
deomelo: As always, not a surprise, he reveals the root of his weird fury. Again, posting some comment on a forum while on the move doesn't entail that I have to spend my time rehashing online documents to bolster my argument. You're free to disagree with my claims and free to refute them (even though foaming in the mouth like a rabid dog while shouting "IPOB" doesn't count as a rebuttal) yourself, but as I already said, you're entitled to what you believe. There a million and one articles online critiquing the inflated costs of Nigeria's infrastructural projects, including from international observers. Whenever you can wipe the foaming dribble off your mouth and breathe normally, you can find them. I have no interest in indulging keyboard warriors today. 5 Likes 4 Shares |
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