Hakeem12:
We cannot continue keeping the price of electricity below the cost price. This will just impede the operators from making the investments for improving power supply because the literally have no hope of a profit. The government bridging the gap is in effect a subsidy which also wastes revenue. The tariff increase is basically tgw government unable to do so anymore. When government don't even pay gencos in full, genocs would rather sell to other west African countries.

The government needs to back off of the pricing. Like obasanjo did with the telecom sector. We would be better for it in the long run. Obasanjo allowed them to set their own prices and investment flowed in. The telecom sector was developed by private investment and eventually due to investment and competition, costs came down. People wanted the govt. to set prices for the sector back then too. But we paid high prices and now we have a strong telecoms sector. Sim cards sold for as high as 15k back then go for #50 or even free these days.

If the right players are involved we won't be here. These people running the Discos are mostly politicians.
When the bidding came up during Gej's govt many foreign companies with good track records bided but were not given.
Algeria has 13 refineries and its govt managed it all.
Check the price of fuel in Nigeria and Algeria to see the result of managing ur critical economy.
The only reason why govt can't manage it here is corruption. It's the same people in govt that still sell those companies to themselves and managed it under the guise of private companies. They know they will have higher profit that way.
Why did they collapse our refineries to make sure we import every fuel we use?
And who are the people importing it since 1999? How long did it take Niger to build its refinery - 3 years !
These ppl know what they're doing

Minjim:


If govt had directed it to those who have the capacity we won't be here. But they gave it to their friends and relations.
There are many foreign energy companies like Siemen that bided during Gej's period but were not given the contract

We were talking about electricity allocation in view of the recent increase. Not sale of the power companies.

agabusta:


We were talking about electricity allocation in view of the recent increase. Not sale of the power companies.

What's the genesis?

I was highlighting the negative impact of allowing shrewd capitalist to monopolise the nation's critical services in a striving and underdeveloped economy like ours

Hakeem12:
We cannot continue keeping the price of electricity below the cost price. This will just impede the operators from making the investments for improving power supply because the literally have no hope of a profit. The government bridging the gap is in effect a subsidy which also wastes revenue. The tariff increase is basically tgw government unable to do so anymore. When government don't even pay gencos in full, genocs would rather sell to other west African countries.

The government needs to back off of the pricing. Like obasanjo did with the telecom sector. We would be better for it in the long run. Obasanjo allowed them to set their own prices and investment flowed in. The telecom sector was developed by private investment and eventually due to investment and competition, costs came down. People wanted the govt. to set prices for the sector back then too. But we paid high prices and now we have a strong telecoms sector. Sim cards sold for as high as 15k back then go for #50 or even free these days.

Moreover, the price we are paying now for darkness is not below cost price.
If everyone is metered, trust me, their income will decline

winterfell007:


Don't blame Jonathan. The privatization was completely honest and fair. It's you who don't understand the duties of NBET. NBET was set up as an agency to trade in bulk power purchase from various IPPs pending when the discos improve their distribution networks and begin to buy power independently for themselves.
Of recent Ikeja disco, Eko disco, Benin disco and Enugu disco have been independently contracting power from IPPs and feeding it to their premium customers

Honest and fair? Take those words back. Those companies who had superior technical know how and adequate financial muscle didn't win the bids. Most of the companies who that won paid prices that were far below the values of the assets. You may want to read about that

TooNoisy:
This Government is extremely unserious. You were able to pay only 20% of the total amount Generated by Gencos and you are proud to say it. How do you want the generating companies to survive if they get only 20% of their revenues? How do you expect investors to come invest in the Power sector when they get paid only 20% of their forecasted revenue.

This government is shameless. They have no idea how to fix the power sector and they are not even pretending they do.

Na wawo for u oh, government is shameless abi discos(privately own company) are the shameless people here.

No wonder otedola is cashing out too much

"Electricity generation companies in the country sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc.

The government-owned NBET buys electricity in bulk from Gencos through Power Purchase Agreements and sells through vesting contracts to the distribution companies, which then supply it to the consumers."

Why is the government involved as a middle man between the producers and the distributors which are both privatized entities?
The government continues to under pay the producers aswell.

Shouldn't they just deal directly and cut the unnecessary middle man the government?

fitzmayowa:
The power no still stable....

I no know about your area but we dey get 22 hours of power supply in my area... sometimes, there will be light for several days without interruption

NedvedGraphix:


I no know about your area but we dey get 22 hours of power supply in my area... sometimes, there will be light for several days without interruption

You can't compare your area with the rest of Nigeria.....

after they have rob us finished God we punish I Una generation

No power improvement, no meter

Yet the price went up.

If this is not a useless government I wonder what it is


You want to service loans for politicians