leokid866:
Actually the entire privatization process was done under Jonas government......it was a terrible plan that saw the government take control of transmission while leaving distribution in private hands.....not only that the government had to pay huge sums to take over transmission lines that where old and worn out with no plan on how they would be replaced or upgraded.....it also saw the government saddled in head spinning contact with the discos where basically the government was still saddled with funding a lot of their cost with no power of oversight or control despite the discos been in private hands....The NERC was only a lapdog who was empowered to bite under Buharis government. Jona had already package the deal and just handed off the burden to Buhari......and since going back on the contract wi see The gencos and discos suing Nigeria for billions of dollars we did not have becaus Jona and Diezani had looted the treasury before leaving. It was just like P&G case Buharis government had no idea how it came about but because they were the government in power they were left to clean up the mess.....and when the Senate asked Jona to come explain himself he said they should bring half a billion to fly him private to Abuja.

Not sure where to begin deconstructing this, but I will try…
Why do Buhari Apologists think providing electricity is an evdnt instead of the CONTINUING PROCESS it should be?!

First, the privatization was MANDATED BY LAW (the ESR Act of 2005), and the entire process was supervised (probably even designed) by the World Bank, based on international best practices. Nonetheless, to say that privatization was “done” under the Jonathan administration yet again betrays the misunderstanding of the BASICS by General Buhari and his acolytes and apologists, because it was only a PARTIAL privatization, with the federal government (presided over by General Buhari since 2015) retaining and STILL CURRENTLY holding 40% of the ownership of the DISCOs (which has turned out to be one of the weaker links of the electricity provision chain) almost a decade after the privatization process was initiated. The FULL privatization was actually supposed to be concluded five years after the privatization process BEGUN in 2013 under the Jonathan administration, upon the meeting of certain specified metrics, around 2018 (which would be well into the Buhari administration) with the PUBLIC LISTING on the stock exchange of the 40% still CURRENTLY held by the Buhari federal government (and the great thing about a PUBLIC listing on the stock exchange is that ANYONE can buy shares instead of just so-called “cronies”).

Unfortunately, not only has those metrics not been met because the federal government, presided over by General Buhari, retains a DISASTROUS pricing policy that refuses to allow cost-reflective tariffs and have thus virtually destroyed the balance sheet and bankability of the DISCOs, but even more crucially because General Buhari’s federal government, with his CENTRIST impulses and preference to retain this substantial ownership stake in the supposedly “privatized” DISCOs so that he can continue to appoint HIS PEOPLE to various positions of authority and directorships, has shown absolutely no inclination to conclude the process - which btw was STATUTORILY-MANDATED by law (the ESR Act of 2005). It continues to be shockingly ignorant when General Buhari, who has now been in office for almost EIGHT YEARS continue to wail about a process that was started under the Jonathan administration (which was less than 6 years in office) but was MANDATED BY LAW to be concluded about five years later under the Buhari administration. The law did NOT change with the change of government. Rather the CLUELESS Buhari government simply refuses to implement the law (including pricing policies based on costs).
>

leokid866:
Actually the entire privatization process was done under Jonas government......it was a terrible plan that saw the government take control of transmission while leaving distribution in private hands.....not only that the government had to pay huge sums to take over transmission lines that where old and worn out with no plan on how they would be replaced or upgraded.....it also saw the government saddled in head spinning contact with the discos where basically the government was still saddled with funding a lot of their cost with no power of oversight or control despite the discos been in private hands....The NERC was only a lapdog who was empowered to bite under Buharis government. Jona had already package the deal and just handed off the burden to Buhari......and since going back on the contract wi see The gencos and discos suing Nigeria for billions of dollars we did not have becaus Jona and Diezani had looted the treasury before leaving. It was just like P&G case Buharis government had no idea how it came about but because they were the government in power they were left to clean up the mess.....and when the Senate asked Jona to come explain himself he said they should bring half a billion to fly him private to Abuja.

The federal government did NOT have to pay to “take over” the transmission lines because it was already own by the government…
Government owned EVERYTHING in the electric power chain (generation, transmission and distribution) until the ESRA unbundled NEPA!

A chain is only as strong as it’s weakest link, and so even though the GENCOs have an installed capacity of about 13,500MW and can comfortably generate between 7-8000MW of power, the Transmission Company of Nigeria, which is NOT privatized and is fully 100% owned, controlled and operated by the Buhari federal government (complete with HIS PEOPLE appointed by him to head and run it), cannot transmit more than 3-4000MW of generated power per day - even after almost EIGHT YEARS of the Buhari government. This is the CURRENT REALITY. It has nothing to do with the partial privatization exercise of 2013, because TCN was NOT privatized and was NOT part of that process, and anyone competent or earnest in that position would have been able to rehabilitate and modernize the transmission lines after almost EIGHT YEARS in power. Sadly, the incompetent General Buhari is incapable of giving what he does not have.
>

openmine:

True

Keep crying

leokid866:
Jona did 6 years.....we were all there

Which one is 6 years again? He did 4 years and was only acting for yaraduah for a year.

fastseo:

Which one is 6 years again? He did 4 years and was only acting for yaraduah for a year.

2 years bruv......and shey acting president is not president even if its just 1 year?

Snapchat:


I will always Keep cryingwailing

Yeah

openmine:

Yeah

Keep crying

9jaRealist:


Not sure where to begin deconstructing this, but I will try…
But why do Buhari Apologists seem to think providing electricity is an EVENT instead of the PROCESS that it is.

First, the privatization was MANDATED BY LAW (the ESR Act of 2005), and the entire process was supervised (probably even designed) by the World Bank, based on international best practices. Nonetheless, to say that privatization was “done” under the Jonathan administration yet again betrays the misunderstanding of the BASICS by General Buhari and his acolytes and apologists, because it was only a PARTIAL privatization, with the federal government (presided over by General Buhari since 2015) retaining and STILL CURRENTLY holding 40% of the ownership of the DISCOs (which has turned out to be one of the weaker links of the electricity provision chain) almost a decade after the privatization process was initiated. The FULL privatization was actually supposed to be concluded five years after the privatization process BEGUN in 2013 under the Jonathan administration, upon the meeting of certain specified metrics, around 2018 (which would be well into the Buhari administration) with the PUBLIC LISTING on the stock exchange of the 40% still CURRENTLY held by the Buhari federal government (and the great thing about a PUBLIC listing on the stock exchange is that ANYONE can buy shares instead of just so-called “cronies”).

Unfortunately, not only has those metrics not been met because the federal government, presided over by General Buhari, retains a DISASTROUS pricing policy that refuses to allow cost-reflective tariffs and have thus virtually destroyed the balance sheet and bankability of the DISCOs, but even more crucially because General Buhari’s federal government, with his CENTRIST impulses and preference to retain this substantial ownership stake in the supposedly “privatized” DISCOs so that he can continue to appoint HIS PEOPLE to various positions of authority and directorships, has shown absolutely no inclination to conclude the process - which btw was STATUTORILY-MANDATED by law (the ESR Act of 2005). It continues to be shockingly ignorant when General Buhari, who has now been in office for almost EIGHT YEARS continue to wail about a process that was started under the Jonathan administration (which was less than 6 years in office) but was MANDATED BY LAW to be concluded about five years later under the Buhari administration. The law did NOT change with the change of government. Rather the CLUELESS Buhari government simply refuses to implement the law (including pricing policies based on costs).
>

Oga stop talking like we all dont live in the real world, that something was designed by worldbank does not mean its execution would be done accordingly or by the bank itself.......you mentioned a law backing the privatization process stating it to be concluded 10 years after, to me that just show signs of the PDP government of the time kicking the ball down the line instead of facing the problem............also me having shares in a company does not mean i get to tell them what to do, most of these companies themselves are not on the Nigerian stock exchange themselves with some in the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market so why would i as a shareholder go and float my shares in a market the company is not participating? if you want shares in the discos go to the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market nobody will stop you. most of these discos are been privately run and badly because two of them this year have been taken over by banks with several others facing default, and thanks to the badly put deal by Jona guess who is ending up with the bills? and as for pricing you forget the subsidy payments were removed by government allowing the discos to charge based on market forces so dont even drag the FG into that one because i have seen my electricity price unit rise and fall several times this year alone............. you cant hand me a pig and a lipstick and expect me to give you the princess bride........Jonas government goofed on this one cause his party handled the process from 2005 to 2013 turned in Shit and you expect the government of the next eight years to keep polishing it?.............

leokid866:
Oga stop talking like we all dont live in the real world, that something was designed by worldbank does not mean its execution would be done accordingly or by the bank itself.......you mentioned a law backing the privatization process stating it to be concluded 10 years after, to me that just show signs of the PDP government of the time kicking the ball down the line instead of facing the problem............also me having shares in a company does not mean i get to tell them what to do, most of these companies themselves are not on the Nigerian stock exchange themselves with some in the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market so why would i as a shareholder go and float my shares in a market the company is not participating? if you want shares in the discos go to the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market nobody will stop you. most of these discos are been privately run and badly because two of them this year have been taken over by banks with several others facing default, and thanks to the badly put deal by Jona guess who is ending up with the bills? and as for pricing you forget the subsidy payments were removed by government allowing the discos to charge based on market forces so dont even drag the FG into that one because i have seen my electricity price unit rise and fall several times this year alone............. you cant hand me a pig and a lipstick and expect me to give you the princess bride........Jonas government goofed on this one cause his party handled the process from 2005 to 2013 turned in Shit and you expect the government of the next eight years to keep polishing it?.............

With all due respect, yet more evidence that General Buhari and his Apologists do not understand even the BASICS…
The ESR Act of 2005 was a COMPREHENSIVE law with several STEPS, of which privatization was actually one of the final steps.

The ESR Act was not simply a privatization law but rather a law that provided a specific PROCESS (a concept that Buhari and Apologists continue to struggle with) to COMPREHENSIVELY OVERHAUL the electricity sector (and hence the name “the Electric Sector Reform Act” of 2005), based on the REALITY that what Nigeria had been doing for the almost 50 years since independence was simply not working. Accordingly, the law MANDATED (not suggested, as the Buhari government seem to believe in its usual disdain for the Rule of Law) several steps as part of the overhaul PROCESS, and not just a series independent events as Buhari and his Apologists seem to understand it.

Even the companies that were privatized in 2013 (which btw is NOT “10 years after” the enactment of the ESR Act did NOT EXIST in 2005 when the law was enacted, so to clarify your apparent confusion, the government in 2005 could not have simply privatized NON-EXISTENT companies. Instead, what the ESR Act did was to provide the steps to unbundle the clay-footed behemoth monopoly that was NEPA, by among other things (1) untangling the cobweb of NEPA’s operations into three distinct and disparate lines - generation, transmission, and distribution, (2) de-CENTRALIZING those operating lines into distinct and autonomous regional companies, (3) ultimately creating and incorporating distinct companies out of those autonomous regional operating entities (the GENCOs, TCN and the DISCOs), (4) creating a holding entity for NEPA’s existing operational liabilities, (5) instituting an entity for NEPA’s pension liabilities, (6) negotiations with the labor unions about the gratuities and other liabilities arising from the liquidation of NEPA, and (7) setting up a regulatory agency for the entities to be privatized (that is, NERC), among other steps, all BEFORE the even the initiation of the privatization process.

The Privatization PROCESS itself (and again, need to emphasize for General Buhari and his Apologists is not an event, but a PROCESS that required several time-consuming iterations, including EOIs, data room due diligence, technical and financial due diligence, etc. even BEFORE public bidding was held), which was partly designed and wholly supervised by the World Bank (which had dedicated project staff and an office embedded with the PHCN headquarters), provided for only a PARTIAL (not full) privatization initially, with the federal government retaining and holding 40% of the ownership of the DISCOs, complete with board seats and thus input into the operations of the DISCOs. This has continued to be the case since General Buhari assumed headship of the federal government barely 2 years later in 2015, which has enabled General Buhari to appoint so many of HIS PEOPLE onto the boards (which again seems to be what he enjoys most about his office - apart from globetrotting, but that’s a different discussion). The privatization process MANDATED that, upon meeting several metrics that was premised on the institution of cost-reflective tariffs (admits other governmental actions), the privatization process would then be COMPLETED by publicly-listing the PARTIALLY-privatized DISCOs on the stock exchange. General Buhari continues to IMPEDE this.

Personally, I consider the PDP and the APC to be merely two sides of the SAME corrupt and incompetent coin (after all, a significant number of the folks in the APC used to in the PDP, and increasingly vice versa), so I have been circumspect not to bite on your “PDP” references, because this the primary way that General Buhari and his acolytes and apologists tend to MISLEAD and MISDIRECT Nigerians - and I suspect that’s more because these folks (including General Buhari himself) are CLUELESS rather than any deliberate or clever ploy to obfuscate. Unfortunately, the problem is that (just with life itself) if we MISDIAGNOSE a problem, we are invariably DOOMED to failing to cure it. The problem with CURRENT electricity supply inadequacies and shortcomings in Nigeria is NOT the privatization process initiated by the Jonathan administration in 2013, but rather substantially and substantively what General Buhari and his government has done (and more crucially FAILED to do) in his almost EIGHT YEARS in office, starting from barely 2 years after the PARTIAL privatization in 2013.

These issues are not rocket science - except perhaps to General Buhari and his Apologists. He sought power and got it. He should now grow a pair of balls and quit blaming others for his obvious FAILURES and shortcomings!
>

9jaRealist:


With all due respect, yet more evidence that General Buhari and his Apologists do not understand even the BASICS…
The ESR Act of 2005 was a COMPREHENSIVE law with several STEPS, of which privatization was actually one of the final steps.

excuses.........

leokid866:
2 years bruv......and shey acting president is not president even if its just 1 year?

What year did yaradua died? For your information 5 May 2010 and the general election was held 2011 and Jonathan was declared the winner on 19 April..

Jonathan only completed the remaining one year of yaradua.

leokid866:
excuses.........

It sounds like “excuses” to General Buhari and his Apologists because they don’t even understand BASICS…
The entities you’re bemoaning not being privatized in 2005 when ESRA was enacted did not even exist in 2005!

What the ESR Act did was to provide the steps to unbundle the clay-footed behemoth monopoly that was NEPA, by among other things (1) untangling the cobweb of NEPA’s operations into three distinct and disparate lines - generation, transmission, and distribution, (2) de-CENTRALIZING those operating lines into distinct and autonomous regional companies, (3) ultimately creating and incorporating distinct companies out of those autonomous regional operating entities (the GENCOs, TCN and the DISCOs), (4) creating a holding entity for NEPA’s existing operational liabilities, (5) instituting an entity for NEPA’s pension liabilities, (6) negotiations with the labor unions about the gratuities and other liabilities arising from the liquidation of NEPA, and (7) setting up a regulatory agency for the entities to be privatized (that is, NERC), among other steps, all BEFORE even the starting of the initial PARTIAL privatization process (not event).

I am not an academic (or intellectual) snob, but sadly have lived to witness the consequences of a poorly-educated leader…
General Buhari sought power and got it. He should now grow a pair of balls and quit blaming the past for his CURRENT FAILURES!
>

leokid866:
Oga stop talking like we all dont live in the real world, that something was designed by worldbank does not mean its execution would be done accordingly or by the bank itself.......you mentioned a law backing the privatization process stating it to be concluded 10 years after, to me that just show signs of the PDP government of the time kicking the ball down the line instead of facing the problem............also me having shares in a company does not mean i get to tell them what to do, most of these companies themselves are not on the Nigerian stock exchange themselves with some in the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market so why would i as a shareholder go and float my shares in a market the company is not participating? if you want shares in the discos go to the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market nobody will stop you. most of these discos are been privately run and badly because two of them this year have been taken over by banks with several others facing default, and thanks to the badly put deal by Jona guess who is ending up with the bills? and as for pricing you forget the subsidy payments were removed by government allowing the discos to charge based on market forces so dont even drag the FG into that one because i have seen my electricity price unit rise and fall several times this year alone............. you cant hand me a pig and a lipstick and expect me to give you the princess bride........Jonas government goofed on this one cause his party handled the process from 2005 to 2013 turned in Shit and you expect the government of the next eight years to keep polishing it?.............

For the umpteenth time…
The DISCOs are 40% owned by Buhari’s federal government.

Nonetheless, why wouldn’t they face financial default?
Buhari’s DISASTROUS pricing policies prevents cost-reflective tariffs and GUARANTEES they LOSE money.

Even the roadside Buka or Akara seller understands you cannot price below your production costs…
Yet somehow (perhaps not surprising) General Buhari and his acolytes do not understand this BASIC fact!
>

Snapchat:


I will forever Keep crying like a puerile

Yeah
Thumbs up!

9jaRealist:


For the umpteenth time…
The DISCOs are 40% owned by Buhari’s federal government.

Nonetheless, why wouldn’t they face financial default?
Buhari’s DISASTROUS pricing policies prevents cost-reflective tariffs and GUARANTEES they LOSE money.

Even the roadside Buka or Akara seller understands you cannot price below your production costs…
Yet somehow (perhaps not surprising) General Buhari and his acolytes do not understand this BASIC fact!
>

why are you been selective with your thoughts? didnt you see where i wrote that subsidy payments in the electricity sector were removed allowing discos to charge based on market forces........as for the 40% issue the privatization was done in 2013 meaning up until 2015 when power was handed over it was Jonas 40%....please tell us what he did with it since the rest of us are so clueless? you obviously are in no place to learn and seem to want to carry on your half baked position and stupidity of the matter but you cant have every one fooled.........some of us can actually read and dont go off heresay.

9jaRealist:




It sounds like “excuses” to General Buhari and his Apologists because they don’t even understand BASICS…
The entities you’re bemoaning not being privatized in 2005 when ESRA was enacted did not even exist in 2005!

What the ESR Act did was to provide the steps to unbundle the clay-footed behemoth monopoly that was NEPA, by among other things (1) untangling the cobweb of NEPA’s operations into three distinct and disparate lines - generation, transmission, and distribution, (2) de-CENTRALIZING those operating lines into distinct and autonomous regional companies, (3) ultimately creating and incorporating distinct companies out of those autonomous regional operating entities (the GENCOs, TCN and the DISCOs), (4) creating a holding entity for NEPA’s existing operational liabilities, (5) instituting an entity for NEPA’s pension liabilities, (6) negotiations with the labor unions about the gratuities and other liabilities arising from the liquidation of NEPA, and (7) setting up a regulatory agency for the entities to be privatized (that is, NERC), among other steps, all BEFORE even the starting of the initial PARTIAL privatization process (not event).

I am not an academic (or intellectual) snob, but sadly have lived to witness the consequences of a poorly-educated leader…
General Buhari sought power and got it. He should now grow a pair of balls and quit blaming the past for his CURRENT FAILURES!
>

yet it took your PDP leaders 10 years to do one job...........what a wawu.........

9jaRealist:


The federal government did NOT have to pay to “take over” the transmission lines because it was already own by the government…
Government owned EVERYTHING in the electric power chain (generation, transmission and distribution) until the ESRA unbundled NEPA!

A chain is only as strong as it’s weakest link, and so even though the GENCOs have an installed capacity of about 13,500MW and can comfortably generate between 7-8000MW of power, the Transmission Company of Nigeria, which is NOT privatized and is fully 100% owned, controlled and operated by the Buhari federal government (complete with HIS PEOPLE appointed by him to head and run it), cannot transmit more than 3-4000MW of generated power per day - even after almost EIGHT YEARS of the Buhari government. This is the CURRENT REALITY. It has nothing to do with the partial privatization exercise of 2013, because TCN was NOT privatized and was NOT part of that process, and anyone competent or earnest in that position would have been able to rehabilitate and modernize the transmission lines after almost EIGHT YEARS in power. Sadly, the incompetent General Buhari is incapable of giving what he does not have.
>

lol NEPA was still run under the PDP government with the gencos producing those figures you mentioned........please tell us how much they were able to transmit? ill wait....

openmine:

Yeah
Thumbs up!

Still crying like a child that you are uh?! Eh ya

Snapchat:


Still crying like the child that i am suppose to be...why me nah?! Eh ya

weldone

rickyrex:
nigeria has never in her history gone hundred steps behind like this before, oh thanks ti tinubu qho gave nigerians a dullard to vote for cause od his selfish political ambition. Una go suffer pass where una dey. I am so proud to be an igbo man. My DNA IS allegic to poverty and agberoism. We make money anywhere we find ourselves. My worry nah how your brothers dey block me for street to buy them weed

Den go back to anambra where agbero no go disturb u... Wait wetlytin pursuit u there before

Brendaniel:


Look, just to let you know, Tinubu is the worst governor Lagos has ever had, even Marwa did better than him, I lived just a street away from the governor's house at Ikeja GRA, My father was a senior civil servant in NEPA, I witnessed a whole lot when it comes to governance in Nigeria, because I lived close to a lot of people in power, From Oladipo Diya to other generals who were in power then in the military era, Iwitnessed even the assassination attempt on marwa , the bomb blast went off just a street away from my street, my friend's dad died in the second bomb blast attempt, till date is the reason why the governor's house is no longer in ikeja but in the island, I saw Tinubu's recklessness in office each time he visited or passed through GRA and I didn't see anything he improved on what Marwa did till Fashola came on board, then Ambode now opened everybody's eyes to know that even Fashola was a bit of a joker but still better than Tinubu which now still reflected in his ministerial appointment, Tinubu should stop taking the glory of Fashola and Ambode in Lagos, in terms of performance he comes last which is the same reason he removed Ambode because Ambode was showing what Lagos could be like without Tinubu involved or can you give me any other reason why Tinubu removed him, Abeg shift...

Tinubu can never be the worse... I repeat tinubu is the second best if not the best Lagos in history of Lagos...

Other state wey no get tinubu how adem take better pass Lagos State ?

Decieve your guilible fellow ..nonme you go fit decieve