NafeesaAA:



I almost called u a big foolish fool with ur comment but I wouldn't want to judge ur stupidity and foolishness without actually knowing if ur really a fool in person or just on Nairaland

na you be the big fool
Why do we continue borrowing money
This nonentities are putting us into everlasting boundage with their greed and here you are ranting nonsense

GIANTPLUSHUB:
Not a bad loan. The pipeline is a revenue generating one.

It's definitely not a potential revenue generating point. This AKK was first muted during the GEJ administration along with the OB3 project that's currently ongoing.
GEJ did a roadshow for both projects in the international market but was only able secure investors that will bonds for the OB3 project. The AAK was perceived as unviable and therefore not bankable by the international investors . That was how the project died until Buhari assumed power. If you read closely the nature of the AKK project, you'll see that China agreed to loan government the money only because NNPC decided to guarantee that project by themselves. If not, they wouldn't dare loan that project that's not viable at all.
The reason why OB3 was able to raise money from the investors is primarily because that gas pipeline will feed gas through the escravos pipeline that connects Lagos, a huge market that needs gas and other cities within the West African market part of the gas will be supplied to the eastern region that's beginning to grow their industrial bases.
AKK is simply a political project, there's no way investors will invest 2.5billion dollars to pipe gas to the north whose industrial base is not as significant as the one in the south. This is simply another Kaduna refinery in the making

persius555:
You borrow to fund a project whose viability is close to non existing. Can you pay back the loan with profit from the project.

What is the viability?

That's a stupid project to start with, the loan isn't refinancing to begin with, instead of engaging in a project that will pay the loans being owed China they're incurring more debts.
Las Las Nigeria go surely enter the Chinese debt trap.

adenigga:


https://m.punchng.com/News/China-approves-loan-for-$2.6bn-AKK-gas-pipeline

And as usual, as a people,we sit back, relax and watch these useless government destroy both present and future generations resources to become slaves in their own land. Okay o

winterfell007:


It's definitely not a potential revenue generating point. This AKK was first muted during the GEJ administration along with the OB3 project that's currently ongoing.
GEJ did a roadshow for both projects in the international market but was only able secure investors that will bonds for the OB3 project. The AAK was perceived as unviable and therefore not bankable by the international investors . That was how the project died until Buhari assumed power. If you read closely the nature of the AKK project, you'll see that China agreed to loan government the money only because NNPC decided to guarantee that project by themselves. If not, they wouldn't dare loan that project that's not viable at all.
The reason why OB3 was able to raise money from the investors is primarily because that gas pipeline will feed gas through the escravos pipeline that connects Lagos, a huge market that needs gas and other cities within the West African market part of the gas will be supplied to the eastern region that's beginning to grow their industrial bases.
AKK will simply a political project, there's no way investors will invest 2.5billion dollars to pipe gas to the north whose industrial base is not as significant as the one in the south. This is simply another Kaduna refinery in the making

I don't see the viability of it as well.

That is why using a rail platform would have been better.
At least, the rail would serve a bigger purpose of transporting people and trade.

We are governed by nepotistic dimwits.

They just see free Money and use it anyhow.

Money that is not really free.

MASTAkiLLAh:
Niger Delta powering the north once again yet we can't even get this junta to continue the east-west road project since 2015. Buhari no try at all but....

Typical, speaking without knowledge. You never ask yourself why the pipeline is being channel up north? It is part of an agreement between Nigeria,Niger,Chad,Algeria and Morocco. The major oil supplier to Europe is Russia through a pipeline, our only remaining market is India and Turkey all are aggressively searching for oil and very soon am sure they will find it.In next 20 years,majority of cars in Europe will be electric cars,But people will still use gas for cooking,so the federal government is trying to secure your future and you here singing your usual north this north that.

idealogical:


The gas they are piping through the pipeline is for sale and profit, to improve commercial and industrial activities and production and to create jobs and generate investments, not for show or to blow the gas through the air or to dash dash.

It will all end in corruption. No dey disturb yourself. How far with petrol?

idealogical:


Again, we don't have enough safety profile like the US to do surface gas transportation like rail transportation of flammable gas.

We currently transport gas overseas via ships, but we don't need ships to transport gas within Nigeria or to North African destinations.

The commercial viability is very strong and the fact that the economy us depressed doesn't mean we should not progress and develop.

No need to be negative any any means necessary.

There is a vast network of pipelines running from the Niger Delta to the south west (specifically Lagos). Lets do a data comparison on how much the gas companies are making presently. The same gas pipeline supplies Benin, Togo and Ghana.

These countries are severely indebted to Nigeria as it is. Despite the market in Lagos, gas is still out of the reach of the masses. We are talking of the richest state in Nigeria that accounts for almost 52% economic base.

If you take a loan of $2.5 billion to supply gas to the rest of the north in the midst of cash crunch, how long do you think it will take to repay the loan.
This is just another subsidy realm we are heading towards. We take loans without asking the ultimate question, Can these projects repay these loans?

Between Nigeria and Algeria, the countries in between are not readily viable.

osusuallstars:
Where will the gas come from ?

Of course you should know !

NIGER DELTA REGION

Southern politicians especially from the Niger delta region are just spectators while the north play their scripts.

As for the ijaw they are good at boasting and GRA GRA attitude which does not help their cause.

The hausa/fulani are using Niger delta crude oil ( oil & gas ) to their strategic interest and to their own advantage while the rest part of the country.

idealogical:


The gas they are piping through the pipeline is for sale and profit, to improve commercial and industrial activities and production and to create jobs and generate investments, not for show or to blow the gas through the air or to dash dash.

For sale to whom, where the industries in the north that needs them? According to them, they said the pipeline will connect with Morroco and onward to Europe. Now tell me, isn't that what the NLNG is doing?

I pity who will take over after buhari.

A lot of reforms will need to be made.
A lot of stupid decisions to be reversed.
A lot of loans will mature and due for payment.

If that person is not highly cerebral, brave and frugal, he is going to sink under the weight of the whole thing.

And the sad thing is that he is going to face real opposition because unlike buhari, he is not going to enjoy as much slavish support to weather through the storm.

Okuda:


i dont doubt that. men you guys are really suffering.

Are you Better than Omah Lay, Falz and a host of other successful people including @Davido who based here?

I no wan curse this morning abeg

CSTRR:
I pity who will take over after buhari.

A lot of reforms will need to be made.
A lot of stupid decisions to be reversed.
A lot of loans will mature and due for payment.

If that person is not highly cerebral, brave and frugal, he is going to sink under the weight of the whole thing.

And the sad thing is that he is going to face real opposition because unlike buhari, he is not going to enjoy as much slavish support to weather through the storm.

You are correct Buhari has destroy the platform for a successor to assume that position.

He has wickedly plunged Nigeria to owe huge amount of debt.

Unfortunately, the Chinese unlike the western european and americans are not friendly when it comes to paying back their loan.

They come to Nigeria to seize our national asset and by that time Buhari will be in his Daura town enjoying retirement quietly.

Lafrresh:
They will keep on approving our loan because they don't want us to develop , we pay back with interest so at the end of the day we are still going to need more money . THIS PEOPLE ARE NOT OUR FRIENDS

Japan has one of the highest source loans but because the project used for such loans is refinancing they were able to get their economy booming and on track not on meaningless projects that can't produce enough funds to pay back. Japan is currently owing more than Nigeria but because of the self refinance project it has not affected their economy or citizens in any way, the same thing with USA.
Loans aren't meant to restrict development or stop it but engage in projects that will repay the loans.

CSTRR:

The last time I heard it was suspended or something like that.
There is certainly no hurry to do it.

Anyway, my point still stands.

If we had a govt with a semblance of intelligence, all hydrocarbon transfer to the north should have been planned through the Port Harcourt-maiduguri rail platform.

It's common sense.

No, it was awarded just 2 months ago, not canceled.

I Know it sounds good to the ears, but rail transportation of gas is too deadly and it's not efficient and cost effective so why waste money on such antiquated mnode of gas transportation.?

Look at the pick below, it takes 3 days to transport 30,000 barrels of oil from Canada to the US, but with pipeline, you can transport 35 million barrels in just one day?

Do the math and count your money, it's no brainer.

I dont want to be part of paying this loan. Or best still, any region where the investment is going to should be the ones paying the loan na. Na wa o. This is unfair.

winterfell007:


For sale to whom, where the industries in the north that needs them? According to them, they said the pipeline will connect with Morroco and onward to Europe. Now tell me, isn't that what the NLNG is doing?

There are more industries inn the North than the SS and SE.

CSTRR:

There is nothing wrong with his proposal.

It would kill two birds with a Stone and a more prudent use of resources.

You want to transport gas via rail, compressed and liquefied gas? In Nigeria?.... no my brother, you arent killing 2 birds with one stone, rather you're killing 1000 humans with one articulated bomb.

Even putting safety aside, rail or road are the most inefficient means of transporting gas; rather than making prudent use of resources as you think, you would be wasting resources by doing that. Rail or road or even ocean vessel transport of gas only become useful when its absolutely impractical to construct a pipeline.

Cc: persius555

onyechez:


It will all end in corruption. No dey disturb yourself. How far with petrol?

Trust me, I know how negative and cynical you people get, it doesn't bother me.

Kingrefreshed:


These people want to make sure they borrow till there's nothing to borrow then they put Nigeria in flames. They want to make sure they'll be the last people to rule Nigeria

Hmmmm

Zetty177x:
And the loan will be paid from our own Niger Delta purse. Not Zamfara gold resources. Since when did this so called Jubrin approve development projects for Niger Delta zones? Make Delta de deceive themselves.when Dem share Nigeria and the value of crude oil turns to zero..they will be sleeping on top their polluted land

Hmmmm

Ok we watching

Have you bothered to ask yourself why this pipeline or do you want to be mischievous?

obailala:
You want "Gas Infrastructure" but you think a major "Gas Pipeline" of this nature is useless?

Odobaone:



Are you Better than Omah Lay, Falz and a host of other successful people including @Davido who based here?

I no wan curse this morning abeg

lmao. you have no furcking idea.

CSTRR:

I don't see the viability of it as well.

That is why using a rail platform would have been better.
At least, the rail would serve a bigger purpose of transporting people and trade.

We are governed by nepotistic dimwits.

They just see free Money and use it anyhow.

Money that is not really free.

Of course there's no viability. If they were any viability, they would have successfully raised bonds in the international market as they did for OB3. Ask yourself, why didn't Shell undertake that project? Afterall, Shell is financing and building pipelines in Portharcourt, Idioroko, Aba and Bayelsa to supply those industries there,
Shell and other major oil companies know it's not viable at all. Seplat is building a 700million dollar gas plant in Imo state, why isn't the government guaranteeing the project? Seplat will not be foolish to invest those huge amount if it wasn't sure of its bankability.
This project is complete political project and they know that. Sadly another loan to burden the nation

Leviseed:
Stupid

looting & deceiving continue

all project must pass through kano

idealogical:



Is this not the same gas infrastructure that you need to send gas to thermal power plants? Abi how do you get gas to power plants if not by pipelines?

It's not by force to criticize or upside down.

The gas plants the FG already installed why not power them with gas? The quote is right on you.

CSTRR:

It's coming from the Niger Delta, yet buhari cannot build the Lagos-calabar rail.

The north is getting far far far more than it is giving back.

when talking about Niger Delta you need to be specific because imo and abia are part of niger Delta.

idealogical:


Trust me, I know how negative and cynical you people get, it doesn't bother me.

truth hurt, so I understand.