Coronavirus petrol landing cost crashes fg may save n450 billion subsidy

It appears that you're referring to a news article or report about the impact of the COVID-19 pandemic on the Nigerian economy, particularly on the petroleum sector.

To summarize, the article suggests that the crash in global oil prices due to the pandemic may lead to a significant reduction in the cost of landing petroleum products in Nigeria, which could result in a savings of N450 billion in subsidy payments.

Here's a breakdown of the points mentioned:

1. Crash in global oil prices: The COVID-19 pandemic has led to a significant decline in global oil demand, resulting in a sharp drop in oil prices. This has made it cheaper for Nigeria to import petroleum products.
2. Reduced cost of landing petroleum products: With lower oil prices, the cost of landing petroleum products in Nigeria has decreased. This is because the cost of importing petroleum products is directly linked to the global oil price.
3. Potential savings in subsidy payments: The reduced cost of landing petroleum products could result in a significant reduction in the subsidy payments made by the Nigerian government to oil marketers. The subsidy payments are meant to cushion the impact of high fuel prices on consumers.
4. Estimated savings of N450 billion: The article suggests that the reduced cost of landing petroleum products could lead to a savings of N450 billion in subsidy payments. This is a significant amount that could be used for other important public expenditures.

Overall, the article highlights the potential benefits of the COVID-19 pandemic on the Nigerian economy, particularly in the petroleum sector. However, it's essential to note that the pandemic has also had significant negative impacts on the economy, including a decline in economic activity and a rise in unemployment.