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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15 DEAD IN FRESH ATTACK ON MONDAY IN KENYA.

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                   Somali linked Islamist militants killed at least 15 people and burnt their houses in a second night of attacks on Kenya's coast,a day after an assault on a town left almost 50 dead on sunday.Armed men went door to door hours before dawn in Poromoko Village.ordered people outside and make them recite the Islamic creed,before killing them.Somalia's al shabaab militants claimed responsiblity for the two days attack and said it would continue its campaign in the east African nation,whose tourist industry has been battered by a rise in militant violence.The militant group has said it is punishing Kenya for sending troops to Somalia to confront its Islamist fighters.Kenya's president Uhuru Kenyatta said today tuesday that ''The attack in Lamu was well planned,orchestrated and politically motivated ethnic violence against the Kenya community''.

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