ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.

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 APC PRESIDENTIAL CAMPAIGN COUNCIL PRESS STATEMENT ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL At his press conference in Abuja on Friday, Alhaji Atiku Abubakar reiterated his proposed  “production subsidy” for locally refined petrol, which he said would reduce pump prices. He went further to ask President Bola Tinubu to slash the cost of diesel and petrol at the pump. That proposal raises important legal, fiscal and practical questions that he must answer. Section 205(1) of the Petroleum Industry Act 2021 provides that unrestricted free-market conditions shall determine wholesale and retail prices of petroleum products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, in a statement on Saturday, explained that it neither fixes pump prices nor issues administrative price templates, except where the statutory conditions for intervention are met. The PIA provisions guide its function.  At the moment, “No such market fail...
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OAU STUDENTS,SHOT AT BY PRESIDENTIAL CONVOY.

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Security details of the convoy          According to sources,presidential convoy shot at protesting Obafemi Awolowo University students today along Akilalu junction,Ife,Osun state.The convoy led by a Toyota SUV with presidency inscription and registration number,FG902-BO2,tried to drive through the protesting students.The students began protesting on increment in school fees since tuesday May 20.Tuesday May 20.The school management increased the fees from about N17,000 to over N100,000.More photos below.                                                                     Protesting studentsStudents after the convoyPresidential Convoy

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