Nigeria To Borrow N178 Billion in 2013 - PREMIUM TIMES

There is no doubt that the President needs money to run his campaign for 2015 election which he started unlawfully this week. The whole Abuja is filled with his posters, well ahead of all other aspirants. What is the Chief Justice of the Federation doing? What is NEC looking at? Now, a new borrowing for power project. Even a blind can see clearly in this pitch black tunnel into which we are being led .

Wot nonsense. Which improvement in light? 3/4 of Ughelli town have been without light 4 up 2 a month now. We didnt have light 4 d Xmas & New Year celebrations & u are getting crude oil frm our town. Wot a shame

What a disgrace to borrow 178billion naira to upgrade electro power to 7000MW that sucks,OBJ try dis in his regime and eat all the billions of dollars,now una wan borrow again to chop,u guyz should go ahead,but we know wethin go happen at the end,becos me know that upgrading to 7000MW na story and if it manage to happen 7000MW is not enough to power dis whole country except only the cities that will benefit from it.i really hate our leaders.

feat? to provide 15 hours of power? in this century? wow... as for the many billions more they want to borrow... enough said.

mIndia,Indonesia, South Korea, South Africa just to mention a few countries were not ahead of Nigeria,but not today. Nigeria will not work. Even your own brother or siter whom you have sustained with your sweat working off your behing in Europe or America will dupe you, how much more those in corridor of money from public funds.That is the mental shape Nigeria has molded the people into.

Can somebody tell me what Okonjo Iweala is doing . I dont believe this woman is still in office . Five years ago we were granted waiver , now we are going back to the same mess .

Cant you block those loop holes in fuel subsidy program and ask OBJ to refund 16bn power project .

By virtue of these , we will get more than enough instead of borrowing and later you will tell us about CABAL IN POWER SECTOR .

I think by now , we should be checking activities of
these so called minister instead of putting everything on GEJ.

To borrow is not a bad idea after all! But, in Nigeria, there are so much money in the hands of looters that EFCC is going after. Why not collect athese monies and use it for these expenditures requiring this loan?

It's because of fools like you that this country has remained backward! 5,000MW for a country the size of Nigeria and people are beating their chests in celebration?! Disgusting!

Please Mr Maku if you are sleeping pls WAKE UP!! Please note not all Nigerians are living in Asokoro,Maitama and other highbrow areas where you so call leaders live! Go to your home state Lafiya and ask people how many minutes a day they get power. Please get the facts before you open your mouth. It's a shame after over 50yrs we are still talking about basics. If it were a serious country you should resign for giving false info to citizens. Remember one day where there won't be PDP or Govt might you will account to all Nigerians!! Shame on all of you Nigerian Leaders am sure the president,senate,reps and others are happy with your score card. It's unfortunate and sad that we as Nigerians can't do anything. As the leadership has succeeded in dividing us over tribe,religion and creed. I pray the common man will understand these before its too late.

I don't understand. Can anyone in this government or elsewhere explain to me why this government would go borrowing $1.15b when it claims its external reserve is above $30b.
I just don't get it. I am an Engineer by training perhaps the economists may have an explanation for contradiction .

While talking about the achievements of the Jonathan administration, the minister also said that the current electricity generation in the country had reached 4,502 megawatts, the highest in recent times. He added that at the moment, there is an average of about 15 to 18 hours per day of constant power supply to different parts of the country”.

The mathematical analysis of the above ‘facts’ from the minister implies that 4,502 MW can produce at least 15 hours per day constant power for 150 million people. Hence only 4502 x 24/15 (or 7203.2) MW will produce at least 24 hours per day constant power for 150 million population of Nigeria.

Is this really true? Is 7203.2 MW enough to power Nigeria?

Maku let your boss brow the whole what the world bank has.But keep it the back of your minds that you are causing troble against any body but you looters.

Pls keep up the good work. I can testify to it that "Electricity power" as really improved, & I pray it stays that way. May GOD ALMIGHTY continue to help u in making Nigeria a better place for every good citizen to live in.
GOD BLESS NIGERIA!!! Amen!!!

One of the indicators of political lies and deceit is generalization; that is reports without specifics and details. Even more so is the lumping of fiscal budgets together without details. Such is the case with this report about generation of electricity in Nigeria. What areas are going to benefit from this new plan? What is the plan for Oji River Power unit that services a large area in the east? In short, can we be briefed clearly and enough for us to know where and how wide spread this plan will affect the entire country.

I must be living in Chad. Where is the 15 hours light? These guys are god dammned liars !

What utter rubbish. 18 hrs constant power suppl? Yes, but mostly in the so called cities that are favored by the regime. I havent seen light in my house since last year.

Mr. President. Few months ago you shared all the PHCN ASSETS to IBB, ABDUSALAMI ABUBARKAR,TONY ELUMELU, TONY ANENIH, SULTAN,MADAM UMBRALLA, WALE TINUBU et al.

Are you are still funding the same projects that you have given out with loan that you will want Nigerians to pay. Where is your sense of fairness?

One thing is sure. That NONE OF YOU ( THIEVES ) will go to your grave with the stolen wealth. Also most if not all your children are on drugs because cheap and easy money in all currencies are available for them to use as they like.

If it was good with Sadam Hussein, Idi Amin and Gaddafi, it shall be good with you the Nigerian thieves that call themselves leaders.

God Is Alive!

South Africa a nation with less than 70m population has 40,000Mw of electricity while Maku claims Nigeria, with a population of 150m people, uses 4,502 Mw to get 15-18 hours of electricity per day. By this Maku dummy's calculation, Nigerians will be guaranteed 24hrs of electricity with 7000Mw of electricity ! IMPOSSIBLE !
Hw did Nigerisn get to be ruled by idiots ? By voting Jonathan but not PDP.

ACN correctly stated two days ago "It also urged Nigerians to ensure that their generators are in good working condition, as the government's promise of stable electricity in 2013 is as unrealistic as it is deceitful.

It drew attention to the government’s claim that it has generated an all-time high 4,500 megawatts and will increase the level to 7,000MW in 2013.
“What a celebration of tokenism! In the first instance, the government should be ashamed to tell Nigerians it has been able to generate only 4,500MW from a huge expenditure of 16 billion dollars!"

Make una go borrow am now....not like we can stop you fools anyway!

Then, after the borrowing go and distribute it among your fuel subsidy cronies so they can remit your money back to you executhieves!

Thieves!!!! Oloriburuku omo ale jati jati!!!!!

Anytime the presidency want to tell lies to nigerians they always push labaran maku and doyin okupe forward because they are loquacious glib.why don't you tell us you seeking loan to satisfy the NASS agitation for 100% budget implementation so that they can collect their jumbo pay and constituency allowances rather than telling us cock and bull stories.

The Fed Govt should mid-wife Renewable Energy for electricity power generation through direct investments in all power generation projects involving Solar, CSP, Wind, Waste, Clean Coal,Hydro and Geothermal sources.
This would increase generation capacity, effect modern technology transfer, create jobs, provide raw materials for secondary industries and generate revenue/ROI within three years.

No visionary government hides under "PRIVATIZATION" to dump the most critical sector of her economy (POWER) solely on the lap of the private sector. GEJ should budget about $10bn yearly to fund a 15 percent stake per power project utilizing any of the above applications.

dis is a typical case of wkly story line in naija when d govt needs money after squanderin d saved ones. But come o, what happened 2 our foreign reserve? dis is 2013 fresh air fellow NIGERIANSN!!!

This is the same country selling power to it's neighbours..... I simply dont understand the fact that there are areas..local governments, districts, towns , that havent seen power for even up to 5 yrs. yet this stupid country is selling power to its neighbours. Another thing is that I dont understand how 7,000 MW supplying the whole of Nigeria is an achievement when we need at least 40,000 for the whole country. ....And these PDP criminals are looking to go and borrow 1.15 billion Dollars when this money can come from plugging the loopholes in the oil and gas industry just within 4 or 5 months. ...I just get tired of this country called Nigeria sometimes

This minister is AN ABSOLUTE LIAR...electricity supply is up to 15-18hrs in every part of the Country. why DOES the country borrow or in need of just $1.15Billion? Why can't this administration probe Obasanjo on how he spent $16Billion on the Power sector yet, we don't have light.

Why must you borrow this money when you could at least retrieve about $6Billion from the looters of our treasury.WHY MUST YOU BORROW MORE MONEY AT A RIDICULOUS INTEREST RATE.

How can we generate 7000MW of electricity in 2013? is this minister aware of the cost of generating 1000MW of electricity not to talk of 2498MW?
it's obvious $1.15 WILL NEVER GENERATE 2498MW.

Someone should tell Nigerian politicians that talk is cheap. Show me the money! 4,502 megawatts of electicity is an embarrasement for a country , the size of Nigeria. All Nigerian leaders, past and present, should bury their collective heads in shame for this dismal performances in this sector. How sad indeed! 99precent of the blame should go to the past leaders of Nigeria not Jonanthan. Now Jonanthan, the ball is in your court, you must reverse this trend of our past leaders. You must deliver long suffering Nigerians from these constant power outages. Done and you will silent even your most adverse critics. At the end of the day I believe most of us want what is best for Nigeria. For me, it is important that Jonanthan administration succeed because a successful Jonanthan administration is a win, win for Nigeria and that is good enough for me.

"Mr. Maku also said that new contracts had been awarded for hydro power plants in Kaduna and Mambila Plateau to generate additional 750 megawatts."

This money will be siphoned by the born to rule naijas. Why is every meaningful naija project being constructed up north and soutwest?. And they keep telling us naija is one when the SE and SS regions are always being neglected. Such projects like this one can never be built in the SE and SS even though they are the only financial contributors to the nation's vault. Nigeria is a big fraud and a deceit. One nigeria for oil. DIVISION NOW

Maku is an opportunist.Most times he shoots without aiming, As at Nov 2011, power generation was 4,400MW and dipped after Q1 of 2012. so where is the increase? Just 100MW. The whole administration do not have direction. The only direction is corruption initiative. Everyone is busy stealing.

Anther Day, Another Lie!
Believe Maku and you may believe Okupe. Dirty Doyin Okupe, that is. Abati hasn't entered the Arena yet, he will soon tell us Naija will send a man into space in 2013 to fix our communications satelite. All na bo-boh. PDP way. Average of 15 - 18 hrs/day of constant power supply in Capo Verdo, not Naija! Listen to ACN : "Do not throw away your generators yet just because of an imaginary power stability promised by (Dumbo that) Governs by Deceit and Phantom Statistics." Gospel.

@ African Development Bank : Beware of Phantom Rulers. "419" loans are bad laons! PDP is a criminal cabal of Aligators. Dem go "Chop Your Monie" and clean mouth. Don't say we didn't warn you at SaharaReporters!

It's quite sad Nigerian govt is borrowing again $1.15 billion (N178 billion) for its power reforms in 2013! How long are we going to do this? The govt is not telling Nigerians how much so far it has spent in the sector and how much is needed. They keep silence on the monies stolen in the name of Power reforms during Obasanjo's regime. We all saw the hearing and read evidences of who and who collected the contracts and the off front monies and did NOTHING! Nobody has been held accountable or prosecuted yet the same power company is being sold to the some of them. What type of people are we? Don't our leader have conscious or fear of God. Leadership should be about LEGACY and service. Now they are mortgaging our future and our children future. May God help us it's so SAD!!!

Shebi you guys voted for King Jonah in 2011, abi? Carry go Jonah, 9ja must be grounded right under your watch!!