The Spokesperson for Muhammadu Buhari Campaign Organisation, Mr. Festus Keyamo, SAN has siad that the plan by the Peoples Democratic party, PDP, crash fuel price is laughable. Keyamo Keyamo, spokesman said the landing cost of the product is around N205 and it is impossible to sell at a lesser N97. “At today’s international price of gasoline, no supplier will ever contemplate any scheme that will deliver products at such ridiculous price,” the statement read. “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.” “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,”. “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. “In addition, government would then pay them cash for the “loses” (subsidy) in selling at fixed market price. “Under this old system, more than N3trillion was lost. 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.”
http://mognews.com/2018/11/06/pdps-plan-to-crash-fuel-price-to-n90-is-laughable-keyamo/

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Keep quiet please

Useless lawyer. APC keep countering Atiku campaign strategies without telling us what new thing they want to offer Nigerians apart from Sorrow, Tears and Blood.

Why and how is it laughable? Wen d govt was openly paying subsidy we were buying at #87, now U ppl claim to have removed subsidy but have been secretly paying d same and even more and yet we are buying at #143 , are U ppl not thieves?

They can.

Thank God Atiku has a plan for Nigeria please tell us Buhari's plan for us or keep quiet

How does a ruling party comfortably play opposition too? APC is just impossible and Keyamo is just a hungry Nigerian

There's still subsidy presently. Keyamo is wrong here

Festus Keyamo, it is better to keep quiet at times than to speak and confirm how daft you are...

What was the pump price of petrol before clueless Buhari jacked up the price?

This idiot has just exposed that there does exist a subsidy regime in place. Something his handlers have been denying and which they tagged as "under recovery ".