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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SPAIN SWORN IN A NEW KING,FELIPE VI,TODAY.

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Public display: As Leonor (left) and Sofia (right) waved to the thousands gathered outside the royal palace, their parents embraced one another               It was a low key ceremony that monarchists hope will usher a new era in their troubled royal household.Felipe VI,has taken to the throne after his father Juan Carlos tearfully signed his abdication papers at midnight last night following a 36 year reign.The new monarch,his wife Letizia and their two daughters Leonor,eight years old and Sofia,seven years old were ferried through Madrid in a low key affair after a brief military parade to their first official engagement.The crowd was banned from protesting and thousand's of football fans are today mourning Spain's premature exist from world cup.More photos below.                           In awe: Felipe and Letizia grinned at their daughters eight-year-old Leonor, left, and seven-year-old Sofia, right, as they looked starstruck by the whole affairHandover: This morning, Juan Carlos and his son Felipe stood side-by-side in the Zarzuela Palace of Madrid in front of their family before the red sash was passed onPrince Felipe, crowned as Felipe VI of Spain, and Queen Letizia, arrive to Spanish parliament in Madrid accompanied by daughters Princess Leonor and Princess SofiaOath: The new 46-year-old king swore an oath promising to uphold the constitution before calling for a 'new Spain that we can build together'Honoured: To complete the ceremony, the family stood outside parliament on a red-carpeted podium to her the national anthemStatesman-like: Felipe looked every inch a king as he cruised through sunny Madrid in a Rolls Royce, waving at his peoplePatriotic: Despite having just crashed out of the World Cup in the first round, Spaniards held their flags with pride and banners saying 'Long live King Felipe VI!'Austerity: Determined to maintain the country's era of austerity, as one in three Spaniards remains unemployed, the family have opted for a low-key ceremony

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