Festus Keyamo, Director, Strategic Communications, of the President Muhammadu Buhari Campaign Organisation, on Monday night criticised ATiku ABubakar, presidential candidate of the Peoples Democratic Pary (PDP), over his claim that he would lower the pump price of petrol to N77/litre if elected President.
According to Keyamo, there is no chance any President could sell the product for any price in the region of what is being mentioned by Atiku, as the landing price is alone if N205/litre.
"Our attention has been drawn to a statement credited to the PDP a few days ago that its presidential candidate, H.E. Alhaji Atiku Abubakar will, if elected President, crash the pump price of petrol to N97 per litre. However, there is no better evidence of desperation and phantom promises by the main opposition’s candidate than this statement," he said.

"At today’s international price of gasoline, no supplier will ever contemplate any scheme that will deliver products at such ridiculous price. Those in the sector reading this must be having a good laugh at the opposition. A simple check at the international prices will show that even at the world market where gasoline is procured, it will cost not less than N158 to procure a litre of crude oil. When you add the cost of refining, plus freight, finance and port charges (premium), there is no magic that one would employ to supply the finished product at N145 a litre. Presently, the landing cost of the product in Nigeria hovers around N205 per litre.

"The claim by Alhaji Atiku Abubakar is opportunism of the highest order. Nigerians are aware that higher crude oil prices will translate to higher government revenues and a prudent administration will convert the resources to the benefit of the common man.
"This is exactly what President Muhammadu Buhari has done since he mounted the saddle in 2015. The President has worked out a transparent system whereby the whole subsidy regime and scam has been totally eliminated. There is no cash incentive or payment again to middlemen."
Keyamo then went on to itemise the President’s "transparent policy", in 20 points showing the impossibility of Atiku's postulations, as follows:
(1) What obtained under the past government was the ABUSE of the subsidy regime.
(2) The system under the past Government was that independent marketers and all sort of persons were allowed to import petroleum products on their own, declare non-existent volumes of these products and get paid for these non-existent volumes.
(3) In addition, government would then pay them cash for the “loses” (subsidy) in selling at fixed market price.
(4) Under this old system, more than N3trillion was lost.
(5) However, when these independent marketers could no longer bring in products due to high prices of crude and make profit at the fixed market price of N145 to a litre, President Buhari refused to further raise the price of petroleum products beyond the N145 per litre. The President was also not prepared to go back to the subsidy regime. Therefore, President Buhari stopped the scam of overblown volumes and subsidy payments to middlemen.
(6) As a result, NNPC took full charge of getting products for consumption.
(7) Under this arrangement, NNPC would swap crude oil for the exact value of finished products in refineries anywhere the products are available around the world.
( Middlemen are only allowed to go and ferry the products and bring into the country and hand over to NNPC.
(9) NNPC will only then pay them for the cost of the logistics of bringing the products in (this is what is called premium).
(10) Even this cost of logistics is now subject to competitive bidding unlike before.
(11) In the past, marketers used to charge $86 per metric ton as cost of logistics (premium) to bring in products.
(12) Under Buhari’s regime when it was subjected to competitive bidding, the highest the government got was $7 per metric ton as cost of logistics to bring in products. More than N3billion has been saved by this bidding process.
(13) Having gotten the value of the crude oil back in terms of finished products, NNPC will now sell at government controlled price which is far lower than the landing cost.
(14) Presently, the landing cost is around N205 per litre, but government sells at N145 per litre.
(15) Therefore, Government just records a loss in NNPC instead of paying cash to middlemen. That loss it suffers is fully reflected when NNPC pays money into the Federation Account.
(16) This also further affects the money accruing to States monthly from the Federation Account.
(17) As a result, this loss that NNPC suffers, (which is recorded as cost of operation of NNPC) is fully subjected to scrutiny by the National Economic Council which also includes the PDP Governors and the Federation Accounts Allocation Committee (FAAC), which includes Commissioners of Finance from PDP States.
(18) If anybody alleges a scam in the process, then the PDP Governors and the States would also be involved because they are involved in jointly scrutinizing the records of NNPC at NEC and FAAC.
(19) No cash settlement for any under recovery is involved, therefore there is no basis for any subsidy payments which is the avenue for fraud.
(20) Therefore, it is true that Buhari is not paying subsidy to anybody.

Source: https://gistdeal..com/2018/11/20-reasons-why-atikus-n97litre-fuel.html

APC is busy castigating Atiku's campaign promises without telling us what they have to offer Nigerians. The only thing APC has as achievement after three and half years is Buhari's fake WAEC certificate.

Atiku never said he is reducing fuel price so these zombies should just shut up

This man joined Apc and his brain stopped working ..

This is a rather poor Analysis, I don’t support Atiku or buhari but lemme tell you this : pump price can always be sold for 65Naira if the Government can plan adequately. Don’t let them give you false analysis, they’re all thieves.

Fuel was sold for N65 before Jonathan was elected in 2011, he removed subsidy in 2012 and incresased fuel to N97, he promised us that the balance of N32 will be reinvested into the economy

SURE-P was created and a lot of project were executed under SURE-P with a budget that fell under the N32 differences in fuel prices

https://www.vanguardngr.com/2013/04/sure-p-invests-n572bn-on-infrastructure-in-2012/

http://www.informationng.com/2014/08/sure-p-uplifts-abuja-light-rail-project-with-n10bn.html


today fuel is been sold for N145, No Sure-P, no project

God bless Buhari.
God bless Buhari.

Sometimes I'm happy, sometimes I'm sad.
Sometimes I'm normal, sometimes I'm mad.
Sometimes it's easy, sometimes it's hard.
Sometimes it's a stack, sometimes it's a wad.
Sometimes it's cooked, sometimes it's charred.
Sometimes it's real, sometimes it's a façade,

Sometimes I curse, sometimes I bless,
Sometimes I talk, thinking of nothing else
Sometimes I poke without even touching brezz.
Sometimes I suck it till there's almost nothing left.

What I feel tonight is real
It's obvious we've had our fill,
But the climb to the top is always tough,
While the road to success is mostly rough,

There's a saying in Warri,
''Instead make I born mumu, make I born thief''.
There's a lot for worry,
Fear blossoming like an orchids' leaf.
What's in store for us,
Aside sorrow, anguish and thorns?

God bless Buhari,
For letting us know we deserve better.
I'd rather vote for a thief than vote for a dullard.

Atiku/Obi 2019 is a goal.
Who no know, go know!

But Buhari vowed that he would reduce fuel price to forty naira in 2015.

If you believed Buhari then, and still believe him now, my dear you have been zombified!

This man thinks he can bamboozle people with long grammar. You claim govt is not paying subsidy to anybody, but NNPC is paying some people to bring the products in. So what's the difference? Whether you pay before or after buying the product the fact remains that you pay. Keyamo should stop talking Nigerians for idiots abbeg
Whether you're paying from excess crude account(which the govs rejected in the last regime) or from the federation account as you presently claim, the fact is still that the NNPC alone determines how much to pay and the states still have no control over it. So what has changed??

Gullible Atiku is sure taking Nigerians for a fool. Making empty promises that is obviously can't be fulfilled but he should know that Nigerians are wiser and more informed

keyamo is a SAN, he should shut up on economic matters, that's why Udoma is messing up, doing the job of economist that he knows nothing about

ican2020:
keyamo is a SAN, he should shut up on economic matters, that's why Udoma is messing up, doing the job of economist that he knows nothing about

You can say that again ...

NwaAmaikpe:



God bless Buhari.
God bless Buhari.

Sometimes I'm happy, sometimes I'm sad.
Sometimes I'm normal, sometimes I'm mad.
Sometimes it's easy, sometimes it's hard.
Sometimes it's a stack, sometimes it's a wad.
Sometimes it's cooked, sometimes it's charred.
Sometimes it's real, sometimes it's a façade,

Sometimes I curse, sometimes I bless,
Sometimes I talk, thinking of nothing else
Sometimes I poke without even touching brezz.
Sometimes I suck it till there's almost nothing left.

What I feel tonight is real
It's obvious we've had our fill,
But the climb to the top is always tough,
While the road to success is mostly rough,

There's a saying in Warri,
''Instead make I born mumu, make I born thief''.
There's a lot for worry,
Fear blossoming like an orchids' leaf.
What's in store for us,
Aside sorrow, anguish and thorns?

God bless Buhari,
For letting us know we deserve better.
I'd rather vote for a thief than vote for a dullard.

Atiku/Obi 2019 is a goal.
Who no know, go know!

Nice one bro. This is awesome.

But APC did calculations in 2015 and said it should sell for 40 naira.