It is quite unfortunate that NNPC is the major problem of Nigeria because Some Cabals have vow to make this nation to suffer in poverty.
HERE IS THE BREAKDOWN DECEITFUL COSTS THAT MAKE UP THE LANDING COST OF PMS IN NIGERIA TO TALLING ₦1,107 PER LITRE
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 coming on stream, we do not have to pay for items 1,2,5,6 7,8,9,10,11*
So the cost will significantly be reduced but will spoil business for these thieves and the CABALS in power.
Do you know that with Dangote Refinery coming on board,the no 1 item ( FOB cost of ₦434.32 is out because it only comes in when goods are shipped in from foreign land!
Therefore, the real cost should not even be more than ₦300 naira per litre with Dangote producing considering the fact that :
(FOB ₦434.32 + FREIGHT COST₦86.48+ LIGHTERING COST ₦23.45 + JETTY DEPOT FEES ₦15.35 +STORAGE FEES₦12.58+FINANCING COST ₦34.67+FOREIGN EXCHANGE COST₦23.45+NPA CHARGED ₦10.58+NIMASA CHARGED ₦5.29+CUSTOM DUTIES ₦51.17 = ₦686.76.
So ₦950 / litre – 686.76=₦263.24.
A corrupt free, people oriented Government should not sell fuel at more than ₦300/litre including profit marging considering the economies of scale .
The Federal government should know that the people are getting tired of all this economic hardship.This is just part of the slavery
