saaron:
You ended up shooting yourself on the foot. So now you know high international fuel price result in high landing cost? How is the differential cost of landing sorted out? Is it not through subsidy? Was this not the case in previous govt, yet they were able to sell fuel at 97/litre? Unlike this visionless govt that is presently selling above N145 despite sinking N1.4 trillion in background subsidy.
The higher the international oil price, the higher the landing cost, the higher the subsidy. QED!

Let me help you do justice to your position:

1. "..So now you know high international fuel price result in high landing cost? How is the differential cost of landing sorted out?". I made this known earlier that rather than transferring the price increase burden to the masses you just narrowly exited recession, Buhari gave a nod to NNPC on sorting out the differentials as trading loss.

2. "Is it not through subsidy?" Yes it is but not the popular one you are familiar with. Here, it is like saying using our crude to set off high landing cost.

3. "Was this not the case in previous govt, yet they were able to sell fuel at 97/litre? Unlike this visionless govt that is presently selling above N145 despite sinking N1.4 trillion in background subsidy." It was not. Subsidy mentioned under PDP was well appropriated for and that was why PDP developed ghost importer who collected money for work they never do in connivance with PPR,DPR,PPMC,NAVY and other agencies involved. The money paid here were being looted and shared among the Elites, then Presidency, NASS and co inclusive.

Please see below for detailed analysis of how the shared our common wealth legitimately and Buhari still finding it difficult to get evidence for prosecution and read further.

https://www.dailytrust.com.ng/nigeria-spent-n9tr-on-fuel-subsidy-in-10-years-pppra.html

saaron:
You ended up shooting yourself on the foot. So now you know high international fuel price result in high landing cost? How is the differential cost of landing sorted out? Is it not through subsidy? Was this not the case in previous govt, yet they were able to sell fuel at 97/litre? Unlike this visionless govt that is presently selling above N145 despite sinking N1.4 trillion in background subsidy.
The higher the international oil price, the higher the landing cost, the higher the subsidy. QED!

Let me help you do justice to your position:
1. "..So now you know high international fuel price result in high landing cost? How is the differential cost of landing sorted out?". I made this known earlier that rather than transferring the price increase burden to the masses you just narrowly exited recession, Buhari gave a nod to NNPC on sorting out the differentials as trading loss.
2. "Is it not through subsidy?" Yes it is but not the popular one you are familiar with. Here, it is like saying using our crude to set off high landing cost.
3. "Was this not the case in previous govt, yet they were able to sell fuel at 97/litre? Unlike this visionless govt that is presently selling above N145 despite sinking N1.4 trillion in background subsidy." It was not. Subsidy mentioned under PDP was well appropriated for and that was why PDP developed ghost importer who collected money for work they never do in connivance with PPR,DPR,PPMC,NAVY and other agencies involved. The money paid here were being looted and shared among the Elites, then Presidency, NASS and co inclusive.
Please see below for detailed analysis of how the shared our common wealth legitimately and Buhari still finding it difficult to get evidence for prosecution and read further.
https://www.dailytrust.com.ng/nigeria-spent-n9tr-on-fuel-subsidy-in-10-years-pppra.html

Remoter:


Let me help you do justice to your position:

1. "..So now you know high international fuel price result in high landing cost? How is the differential cost of landing sorted out?". I made this known earlier that rather than transferring the price increase burden to the masses you just narrowly exited recession, Buhari gave a nod to NNPC on sorting out the differentials as trading loss.

2. "Is it not through subsidy?" Yes it is but not the popular one you are familiar with. Here, it is like saying using our crude to set off high landing cost.

3. "Was this not the case in previous govt, yet they were able to sell fuel at 97/litre? Unlike this visionless govt that is presently selling above N145 despite sinking N1.4 trillion in background subsidy." It was not. Subsidy mentioned under PDP was well appropriated for and that was why PDP developed ghost importer who collected money for work they never do in connivance with PPR,DPR,PPMC,NAVY and other agencies involved. The money paid here were being looted and shared among the Elites, then Presidency, NASS and co inclusive.

Please see below for detailed analysis of how the shared our common wealth legitimately and Buhari still finding it difficult to get evidence for prosecution and read further.

https://www.dailytrust.com.ng/nigeria-spent-n9tr-on-fuel-subsidy-in-10-years-pppra.html

You're just being deceitful and political. We deal in facts not political talk. And the facts here is that buhari's govt is still paying subsidy! The same subsidy he claimed does not exist. Subsidy to NNPC or Subsidy to Independent Marketers (as was the case in the last administration) is still SUBSIDY!

Your claimed that buhari is even sharing wealth among Nigerians is not only ridiculous, it an insult to our intelligence.
Judging by buhari's insistence on NNPC as sole importer and distributors of petroleum products where subsidy (differential landing cost) is payed by NNPC with perfect opportunity to manipulate and Inflated Subsidy figures in house by NNPC officials with top govt officials to share the proceeds, as opposed to the last administration where importation and distribution of petroleum products is opened to the public who are qualified, and payed differentials in landing cost (Subsidy) to recover their total cost of importation and make some profits by selling at set price, the last administration's system is economically the best description of distribution of wealth among Nigerians compared to buhari's system where everything is conducted behind closed doors in NNPC towers. How many poor Nigerians work in NNPC?

What the Op is trying to explain is that before subsidy was paid by the previous government to several individuals. But today it is paid to few individuals within NNPC who write it off as loss in the Corporation's account books. So as long as it is members of the 'family 'who are receiving the subsidy money, it is under recovery.

Remoter:


Let us be factual on this please, PMB doesn't want any citizen to pay more on PMS due to little boom the economy is enjoying. However, he doesn't also want to revert to very corrupt subsidy regime hence the decision to allow NNPC take full responsibility.

Only three options were available then
1. To completely deregulate and allow market forces to determine price which will be bore by citizens 100%
2. To fully start subsidy and allow elites who already have a sealed relationship with DPR, NNPC,PPMC and NAVY to fully come back and continue to milk our slim economy.
3. To shield the cost completely from the populace and allow fractions of our crude oil profit earned by NNPC to also be used for the differential cost.

PMB only opted for the best on our interest. Let be appreciative of his humane effort.

Which corruption is he fighting, with the likes of Amachi,Babachir, Ayo Oke all in same administration despite all the allegations against them.

Nigeria rates higher in Corruption now, I wonder were you're getting your information from.

OP, there are times where you really have to learn before you leap lest you dig your own grave. This subsidy issue is one of them. The APC really goofed on this. They didn't find the full story before shooting, and now, they are confused about how to get around it.
Now let's get to your post. Landing costs rises with crude oil cost right? Under GEJ, cost of crude oil was between $75-$110, cost of fuel was #87 yet total subsidy spent, wether legally or illegally was on average just under #1trn per year! Today, cost of crude is just under $70, cost of fuel is a whooping #145 and now we just learnt that subsidy (call it under recovery or price modulation or whatever you like, it is still subsidy) is #1.4trn per year! Tell me how this is logically possible?
Wether you agree or not, this govt is looting us dry through their "under recovery" scam, chikenan.

...and to think all this nonsense would have been a thing of the past since 2012 when GEJ cancelled subsidy and deregulated the downstream sector, but your likes, without even giving it a thought, trouped to Ojota to dance skelewu till GEJ was forced to renege. Now, here we are. I am sure GEJ is somewhere, reading this news and laughing his heart out...