₦airaland Forum

PENSION TRANSITIONAL ARRANGEMENT DIRECTORATE ·
Afeez Olowookere
·
20 September 2024
·
Here's a breakdown of the costs that make up the landing cost of Premium Motor Spirit (PMS), also known as petrol, in Nigeria, totaling N1107 per liter:
1. FOB cost: N434.32
2. Freight cost: N86.48
3. Insurance cost: N10.58
4. Lightering cost: N23.45
5. Jetty depot fees: N15.35
6. Storage fees: N12.58
7. Financing costs: N34.67
8. Foreign exchange costs: N23.45
9. NPA charges: N10.58
10. NIMASA charges: N5.29
11. Customs duties: N51.17
12. Other levies and charges: N50.00
Total landing cost: N1107.00
Please note that these costs are subject to change and may vary depending on market conditions, exchange rates, and other factors. This breakdown is based on publicly available data and may not reflect the current or exact costs.
*With Dangote refinery you may not pay 2,5,6,7,8,9,10,11*
So the cost will significantly be reduced but spoil business for these Parastatals and the CABALS.Just imagine all these taxes and more are scrapped and the NAIRA TO CRUDE arrangement with DANGOTE refinery is diligently adhered to,FUEL can be sold for at least N300 PER LITER.Mind you this is a 2024 illustration

jamafa:
Nah today suffering start??

Will bringing subsidy end suffering??

Yes massively it wud reduce suffering.Just imagine that u can but fuel for N200 per liter now ...the effect on the economy wud be massive it wud impact on our dollar rate and effectively reduce d cost of living.That N8TRILLION that is being frittered away by the Governors can made to good use.Thank God Dangote is already onstream,those exorbitant taxes he is being made to pay wud be completely srcapped.

Wike is really scared now...Atiku has held Tinubu and its corrupt team by d balls with this his latest plan to restore subsidy if elected.As it now I have decamped from Obi to Atikus camp

Removal of subsidy has done this country no good

CharlesCNG:
You are focusing only on the half-empty bottle aspect of fuel subsidy removal—often with deliberate distortions—while ignoring the half that is filling up.
Atiku's plan - of which he has not provided a single detail will be a total disster. indeed it will collapse the economy. I will provide you with more than twenty reasons but will start with just one:DANGOTE AND LOCAL OTHER LOCAL REFINERS.

Nigeria’s petrol market is no longer the old import-dependent system: with Dangote and other local refiners now producing, Atiku’s detail-free “restore subsidy” talk raises one simple question: will government force local refiners to sell below cost, or will taxpayers pay them the difference?

Until he answers that, “I will restore subsidy” is not a policy; it is a slogan without an invoice.

BEFORE ATIKU “BRINGS SUBSIDY BACK,” PLEASE GET ATIKU AND HIS SUPPOERTERS , AT LEAST THE OLD SUBSIDY ARITHMETIC RIGHT

Dangote wud find a way to reduce fuel price.Atiku wud scrap those multiple taxation Tinubu collects

Parachoko:
It's going to be so dumb for any Government to start paying subsidy on Fuel again

But we cannot continue like this..pple are suffering

SocialFinance:
How many times are you people going to get this same file release? Na monthly?

Don't you have manifesto to sell your party to the electorate? Every time Tinubu this Tinubu that. I tire for Una

With 5000 vote in Osun, you ppl no dey shame?

They are using TINUBUs tactics against him

Cyberterror:
Congrats to the governor. He didn't deserve it but he won based on his promise to support President Tinubu in 2027.

Data boys don start.

That would be a very good PRECEDENT...that means TILUBU wud also be arrested too.The reckless GENOCIDE going on in LEBANON comes to mind

NaijaCrusader:
So life is generally hard all around? because millions of people will literally kill to be in that UK and face the quagmire

Speak for youreslf

Airtel unlimited rocks... U pple shld stop wasting ur money on data bundles

Bamz:
Final result: 1 - 1.

Still waiting for the first African victory.

Ivory beat Ecuador 2days back.South Africa is crashing out tomorrow.

Gboss247:
Checkmate Dangote with substandard petrol?

No quality fuel

nairalanda1:
Dangote is not a shylock...he is the result of you nigerians refusing to support subsidy removal before 2023.

You were amongst those that fought against d subsidy removal.

nairalanda1:
If you Nigerians had allowed subsidy removal before 2023, by now you would have had more refineries, and dangote won't be dictating the price.

NO one go refine fuel when a subsidy is in place, because banks won't lend you money for refinery building. Dangote was an exception because he had other lucrative businesses that he could use as collateral.

You were amongst those that fought against subsidy removal.... I bet u re an AGBADONIAN.

nairalanda1:
Dangote is not a shylock...he is the result of you nigerians refusing to support subsidy removal before 2023.

If he is not a SHYLOCK tell me why he has reducued the fuel price by just N75 after crude oil price has fallen below $80.

Pootle:
still not enough, the govt need to provide alternatives to dangote, other billionaires should invest in the petroleum sector too

Its only importation that can actively checkmate Dangote.That guy is a SHYLOCK
.

Abandoning what GUMI shldnt he be arrested too.

They sold start with the Oyo kidnap bandits and why are they even announcing it.Action speaks louder

franchasng:
I think why the Police were swift in rescuing the Adelabu Sister and her twin sons is because the kidnappers live within the city/town unlike the other monsters that live in thick forests, and always moving their victims from one forest in one state to another. My thinking




But then, our forests should not be allowed to be a hiding place for criminals, kidnappers and terrorists, Nigeria need to take over our forests by all means.



Well done NPF

My thoughts

StonedLex:
I still enjoy around 24 hrs of power everyday

Sincerely how much do u pay monthly?

Cajal:
Tell us who else was better than tinubu then
Was he the packaged fraud from agulu with no single legacy project during his eight years reign in Anambra
Or the just crowned kachalla of Nigeria
You people are very funny
God bless Nigeria

Tinubu is the worst thing that have happened to Nigeria every sector in the country destroyed.

Akpabio would not allow them

nairalanda1:
LOL, first off, the big men don't loot all your money, otherwise, salaries won't have been paid for decades.

Second, we gain a lot from forex...it's why the naira isn't N10000 to one dollar right now, and why most of you can enjoy imported stuff. It's also how salaries, wages, projects , etc are funded

Third,competition won't bring down fuel prices, because the crude oil price is still high. At least not below N1200 right now.

I DISAGREE

nairalanda1:
NNPC failed because of cheap fuel.

The corruption was just a byproduct of the whole system of subsides and forced losses.

If you were selling say bread at 100 a loaf , instead of the price of say 1500 naira a loaf which would make a profit for you,because government said you should, meanwhile subsidy payments which would have covered your losses are irregular and not able to cover your rising costs, the truth is, you are going to

1. Lie about how much bread you sold because that's the only way to get more subsidy money

2. Sell the bread on the black market at higher price of 3000 nairas to get more money

3. Smuggle the bread to Cameroon to sell at 4000 naira and get more money

And even then the money may not be enough to help you keep your bread factory working at full capacity, so it breaks down.

And you end up being a bread importer who makes fake subsidy claims to survive

That's how it works

I strongly disagree with u cos importation was still going on massively wen dangote had not come on stream, so drop that fake analogy. Corruption killed NNPC Q. E. D

nairalanda1:
Well

1. If subsidy had gone in 1993, there would have been more refineries since.

2. Prices won't fall down even if there were more refineries because crude oil sold in Nigeria domestically has to be sold at opec prices because of opec rules AND because government revenues are dependent on how much crude is sold at

3. A problem with importation is that it means a lot of exodus of forex. Forex that we don't have enough of. That's not going to help our economy

I gree it would impact on our forex .. but wud create a healthy competition.Afterall what wud the masses gain from the saved forex...it wud still be looted

Counterigbolies:
so is it NDC or ADC vehicles they are supposed to take a long?

So if obi went to a place to mourn like usual, won't his party stalwarts come along n those using branded vehicles will they keep it at home n trek to the scene?

So this is how una dey play opposition politics?

Rubbish

So they have sense to know thatbthey are not supposed to go there with campaign vehicles..useless selfish politicians.

nairalanda1:
NNPC could not change the narrative, because the desire for cheap fuel by the majority of Nigerians prevented it from doing so.

Subsidy means that the NNPC was forced to sell refinery products (indeed until 2013, that meant diesel, kerosene, petrol, etc) were sold at a loss, with subsidy payments meant to cover the loss

Anytime subsidy costs got high, a partial removal of subsidy was done...that's why fuel does not cost 15 kobo today as it did in 1981, per liter...but the savings were not directed to the refineries, they were sent to government projects .

Meanwhile, subsidy payments were never enough for Nigeria , because our populaiton was too too large to be sustained by revenue from oil, same revenue that was used to pay for subsidy...which led to our debt rising

In 1992, when problems were arising frrom maintaining subsidy AND keeping the refineries working well, Nigeria was warned to remove subsidy totally. Nigeria chose subsidy. Over the refineries. The result was that the refineries became chronic loss makers, years went by without TAM, and without UPGRADES...which meant that by 2009, the refinereis were so obsolete, that TAM was basically money down a bottomless pit.

When you force a refinery to run at a loss , as was done for NNPC, it will fail and crash.

And Nigerians liked it that way. RIch people made money from importing fuel and smuggling and fake subsidy claims, the poor made money from massive smuggling across the border. And people lived with the lie of cheap fuel

That;s why when the Ojota crowd were opposing subsidy removal in 2012, they did not know they were fighting themselves, they thought they were fighting for the masses. And one tinubu was riling them up. Well, here we are.

Lies NNPC failed becos of corruption not because they were selling fuel cheap.

nairalanda1:
So, you want Dangote to underpay his workers and take money from maintenance and upgrade costs so that you can buy fuel at very cheap prices?

If you were a businessman or a manufacturer, the price you would sell at would be the price that would yield enough to meet your running costs, and your maintenance and upgrade costs, as well as render to Caesar that which is Caesar, and to charitable things...and still have some left over for staff salaries and pensions, plus proviso for possible salary raises.

You got to give up the fantasy that fuel can be cheap. Unless your government is earning something like 800 billion dollars annually, which would enable some form of subsidy, you can't have cheap fuel now without ending up in debt, and ending up with projects uncompleted and so forth.

Tinubu was busy opposing fuel subsidy removal until he ended up in the hot seat and saw what many others, including GEJ, SLS, NOI, and even his servant and acolyte Oshiomole saw back in 2012.

Dangote can continue with his schenanigans but the fact is that he doesnt have the right to stop importation of fuel.We dont want a monopoly.

fineboynl:
the man is busy exporting the products internationally and using same price template for Nigeria

Very heartless businessman he doesnt care about the suffering masses.To think that we even supported him against nupeng and other petroleum Unions.