MyGeneration:

discos didn't get anything wrong its all part of the corruption in Nigeria.

discos were complaining that Nigerians are not paying much for electricity, so they strike a deal with petroleum companies who settle them inorder not to bring light. This is part of the reason they are all frustrating distribution of prepaid meters in Nigeria.

I smile

MondayOsunbor:


Failed Investors ! Buhari will spend the money public Money
And convert it to family business using fronts mark my words

Your role in life is to wail and wail you must.

piippa:
When wrong people are at the wrong positions. A Lawyer has no business with the power Ministry but same lawyer boosted than there will be light in 6 months when they are voted in.

Discos are private companies managed by the owners. The minister of power is not responsible for the failures of the discos. Jonathan sold the discos to political allies who have no technical competence and financial strength to run them. The discos were billed to failed and they’ve failed. Jonathan should take the full blame for their failures.

This criminal Govt want to pay them off and still share the companies to themselves.

Waste of resources.

What is needed is law that will make sure the Discos invest in their infrastructure by putting back a ℅ of their profit back to Maintenance of their infrastructure. Make law that pemalizes any disco whose feeder is out on fault for 1 hour, this ensures they always pick load and stop the rejection of load they do indirectly by tripping their feeders

bankylan:

Your position has nothing to do with ATC&C loss the Discos are faced with. Buying over by the govt will only worsen the matter. This is what you get when the people who don't know about power and electricity market are the ones in charge.

It is better today right?

They just want to handover to Thieftinubu and co......Useless govt

That is a step in the right direction, kudos to the president. Some of this discos owners are so much interested in making profit than serving the purpose of the privatization.

FarahAideed:


You are not a very smart person oo

I'm assuming you have 24 hour electricity.

PrecisionFx:


Buhari destroyed the power sector by making a lawyer minister for power

Before then you were enjoying 24 hour electricity.

Good move they should collect it back, govt should be fiancing it

Naijafull19:


Actually GEJ is to blame FOR one thing...when setting up the DISCOS, he also ended up setting the rate at which they charged bills.

So, to cut a long story short...the DISCOS charge 30% of the actual cost, while government pays the remaining 70% via something called NIBET.

Of course, government has had issues paying the 70%...and anyway, the DISCOS cannot set their own prices, meaning they are running at a chronic loss.

Also, the price setting drove away a lot of foreign investors....

As for what Buhari is proposing to do, it would only make things worse. (Back to the bad old days of NEPA).

The truth is, you Nigerians don;t want to pay the actual cost of power. Hence the whole farce of GEJ making things hard for the DISCOS and GENCOS at their initiaiton.

You cannot run a business at a loss.

The body that is incharge of fixing tariffs and empowered by law to do so is National electricity regulatory commission (NERC). Jonathan didn't fix any tariff. NERC being an agency of the govt does that. The government appoints NERC's key personnel and hence has influence on her. Even if NERC of Jonathan's era did that in consultation with GEJ, the present PMB's NERC hasn't done anything worthwhile to correct that mistake.

Nigeria bulk electricity trading company(NBET) an arm of TCN is the electricity bulk trader that buys power from the gencos and sells to the DISCOs. There was never any arrangement for government to pay 70% while the discos charge 30%. What happens is that NERC regulates tariff below cost and coupled with the electricity theft by Nigerians and in efficiencies in revenue collection due to attitude of Nigerians, the discos do not realise the already below cost monetary value of the power they supply to customers. So they have been operating at loss.

Nbote:




U ppl can't stop amazing me.. I thought U guys all claimed d power sector was now beta than it has ever being and d govt itself claimed Nigerians now enjoyed steady power supply? Now help me understand how dis doesn't contradict both d govt and U lots? If d sector has improved like U ppl claim, why Dis?

thought buhari body language was freezing peoples drinks

or has the body odour stopped and its now failed investors

confused lot

hisgrace090:
Good move!

EEDC should be number one, no improvement of any kind in the south east since they take over power distribution in the area.

Improvement? The thing has degenerated into a sorry state of comatose

ashantitope:



Ok now I understand you the power sectors is functioning well before Buhari got power abi? If your answer is YES that means you stay in Gabon before now and go back to the write up the and see what give out the contract and when did they give it out and also name those minister that have held that ministry with power experience?

The power sector is worse now under buhari by all standards. GEJ was building 10 NIPP gas turbines during his tenure n then he completed and commissioned 6 of dem before he left, adding about 2800MW to the grid, taking Nigeria to around 5000MW.

Buhari came in and since then we have been unable to generate anywhere near 5000MW, and the national greed has collapsed more than 10 times in this regime.

Barth Nnaji was a former minister under GEJ, we had the best of results with him. He was a professor of mechanical engineering and worked in several power companies before he came here. Anything short of that as minister means outright failure

4 years on, buhari is yet to commission any power plant across Nigeria. U people should stop deceiving urselves.

rozayx5:


thought buhari body language was freezing peoples drinks

or has the body odour stopped and its now failed investors

confused lot

No mind dem zombies

ExAngel007:
The Federal Government is considering
repossession of 10 electricity distribution firms as one of the options to rescue the nation’s beleaguered electricity industry.


This is coming ahead of the scheduled final performance review of the private firms that bought into the distribution companies carved out from the defunct Power Holding Company of Nigeria.


However, document available to one of our correspondents shows that the Federal
Government would require up to $2.4bn
(N736bn) to repossess the privatised distribution assets from the core investors if it finally takes the decision.


Giving clue that it could recover the assets from the core investors, the Ministry of Power, Works and Housing in a document sighted by one of our correspondents has described the co-owners of the distribution companies as ‘failed investors.’

The distribution and generation companies carved out of the defunct Power Holding Company of Nigeria were handed over to private investors on November 1, 2013, following the privatisation of the power sector by the President Goodluck Jonathan administration.


The Transmission Company of Nigeria, which is responsible for electricity transmission, is still fully owned and operated by the government.

The PUNCH had on Friday reported that 17 of the nation’s 27 power stations had been forced to shut down some of their units on the back of low demand by Discos, worsening the blackout being experienced by millions of customers
across the country.

11 Discos declared technically insolvent
Total power generation dropped to 3,264.4 megawatts as of 6am on Monday, August 12 from 3,580.5MW on Sunday. It stood at 2,842.1MW as of 6am last Thursday.

Five and a half years after privatisation, the 11 Discos have been described as ‘technically insolvent.’

Read More Here

https://punchng.com/fgll-pay-failed-investors-n736bn-to-repossess-discos/

There goes the fraud, why pay them, I'm sure there are penalties for not carrying out their agreed on contract, govt should fine them and take over their companies

As expected of every foolish bigoted Ipob, power generation which as no relationship with the failed Disco as increased from 2000 MW under PDP to btw 7-9K MW under the lawyer. The failure Disco employed by the cursed PDP handling distribution can’t step up their game to increase distribution efficiency yet want to bill Nigerians the more. How retards n fools from Biafra can simply not comprehend this is beyond all logical reasoning but I can understand when one is fed with endemic hate n corrosive bigotry from birth it does unquantifiable damage to their medulla.

Nbote:




U ppl can't stop amazing me.. I thought U guys all claimed d power sector was now beta than it has ever being and d govt itself claimed Nigerians now enjoyed steady power supply? Now help me understand how dis doesn't contradict both d govt and U lots? If d sector has improved like U ppl claim, why Dis?

Abati60:
Is this government cursed?

What did you score in Comprehension in English?
Are you so bland in reasoning that everything is anti Buhari in your myopic reasoning?
The write up speaks of failed investors; Your comment suggests a failed reasoning faculty

chibjohn:

The body that is incharge of fixing tariffs and empowered by law to do so is National electricity regulatory commission (NERC). Jonathan didn't fix any tariff. NERC being an agency of the govt does that. The government appoints NERC's key personnel and hence has influence on her. Even if NERC of Jonathan's era did that in consultation with GEJ, the present PMB's NERC hasn't done anything worthwhile to correct that mistake.

Nigeria bulk electricity trading company(NBET) an arm of TCN is the electricity bulk trader that buys power from the gencos and sells to the DISCOs. There was never any arrangement for government to pay 70% while the discos charge 30%. What happens is that NERC regulates tariff below cost and coupled with the electricity theft by Nigerians and in efficiencies in revenue collection due to attitude of Nigerians, the discos do not realise the already below cost monetary value of the power they supply to customers. So they have been operating at loss.

What this is true, the DISCOS themselves are thieves, they are not being honest with Nigerians. They should state the obvious and see a way through in round table talk.I recon the GENCOS should be part of the DISCOS, so there would be no issues.

Commentor:


I'm assuming you have 24 hour electricity.

I don't ooo but this is not the way to go

chibjohn:

The body that is incharge of fixing tariffs and empowered by law to do so is National electricity regulatory commission (NERC). Jonathan didn't fix any tariff. NERC being an agency of the govt does that. The government appoints NERC's key personnel and hence has influence on her. Even if NERC of Jonathan's era did that in consultation with GEJ, the present PMB's NERC hasn't done anything worthwhile to correct that mistake.

Nigeria bulk electricity trading company(NBET) an arm of TCN is the electricity bulk trader that buys power from the gencos and sells to the DISCOs. There was never any arrangement for government to pay 70% while the discos charge 30%. What happens is that NERC regulates tariff below cost and coupled with the electricity theft by Nigerians and in efficiencies in revenue collection due to attitude of Nigerians, the discos do not realise the already below cost monetary value of the power they supply to customers. So they have been operating at loss.

So, why didn't GEJ or Buhari stop NERC from fixing prices.....by setting up laws to do that?

That is the question.

Parada:
As expected of every foolish bigoted Ipob, power generation which as no relationship with the failed Disco as increased from 2000 MW under PDP to btw 7-9K MW under the lawyer. The failure Disco employed by the cursed PDP handling distribution can’t step up their game to increase distribution efficiency yet want to bill Nigerians the more. How retards n fools from Biafra can simply not comprehend this is beyond all logical reasoning but I can understand when one is fed with endemic hate n corrosive bigotry from birth it does unquantifiable damage to their medulla.

I dont know where to place certain people on NL, once one goes against APC and PMB they are Ipob, even if you are yoruba or Edo,some of yah reason with ur backsides i swear down!

Naijafull19:


So, why didn't GEJ or Buhari stop NERC from fixing prices.....by setting up laws to do that?

That is the question.

That is called govt interference, they are not subsidising this sector so market forces have to take effect.

Parada:
As expected of every foolish bigoted Ipob, power generation which as no relationship with the failed Disco as increased from 2000 MW under PDP to btw 7-9K MW under the lawyer. The failure Disco employed by the cursed PDP handling distribution can’t step up their game to increase distribution efficiency yet want to bill Nigerians the more. How retards n fools from Biafra can simply not comprehend this is beyond all logical reasoning but I can understand when one is fed with endemic hate n corrosive bigotry from birth it does unquantifiable damage to their medulla.

You are ignorantly funny. You are insulting someone else when your write up reeks of ignorance due to your believe in political propaganda. For power generation capacity to increase, it simply means that new power plants were built and commissioned. Since you believe the propaganda that this government has increased power generation capacity from 2000MW to around 7000MW, please list the new power plants that they built and commissioned that contributed to that increase.

the real legacy of the otueke drunkard.

i hear dame P has the abuja disco

all i want is for the government to have a valid plan for the DISCOs so that they cease to be a monopoly. let every nigerian get a card meter so we can legitimately measure electricity usage, its value and ultimately the revenue of DISCOs. Give communities and estates the opportunity to buy electricity directly from the GENCOs. SOLUTION: CREATE COMPETITION AND MONITOR USAGE.


whatever government spends now will be recouped when they eventually resell licences to new buyers. so its a win win situation.


and by the way who can be better at regulating that sector than a lawyer (A SAN!!!), he knows the law he can identify the loopholes in the existing contract ---which he has used to his advantage on several occasions.

Naijafull19:


So, why didn't GEJ or Buhari stop NERC from fixing prices.....by setting up laws to do that?

That is the question.

NERC was established by an Act of the national assembly and should be autonomous which we know isn't possible since it's the current president that has the power to nominate it's chairman. So the laws are there but the structure is weak. What I am trying to let you know is that a current president has enormous influence in tariffs since he appoints NERC chairman and therefore can detect to him to a certain degree.

nafdacjoe:
The profit realised by the disco did not meet their expectation.

How will it meet when they vehemently refused to distribute prepaid meters to consumers

Origin:
all i want is for the government to have a valid plan for the DISCOs so that they cease to be a monopoly. let every nigerian get a card meter so we can legitimately measure electricity usage, its value and ultimately the revenue of DISCOs. Give communities and estates the opportunity to buy electricity directly from the GENCOs. SOLUTION: CREATE COMPETITION AND MONITOR USAGE.


whatever government spends now will be recouped when they eventually resell licences to new buyers. so its a win win situation.


and by the way who can be better at regulating that sector than a lawyer (A SAN!!!), he knows the law he can identify the loopholes in the existing contract ---which he has used to his advantage on several occasions.

unfortunately, power is capital intensive and a long term investment. you may not see your returns for another 7 to 10 years. when they were auctioning the discos, serious players came into the country. from companies like GE. but last last, na paddy paddy arrangement

Big men animals indirectly settling another big men animals..

Naija nah zoo indeed