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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THE FEDERAL GOVERNMENT HAS ACQUIRED NEW MILITARY EQUIPMENTS TO FIGHT INSURGENCY-IWEALA.

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                                                 Minister of Finance Okonjo Iweala on tuesday spoke to journalist after presenting relief materials to victims of Boko Haram attacks at the NYSC Orientation camp in Girei,Adamawa state,said that new military hardware purchased by the government had arrived the country,expressing hope that the insurgency would soon be crushed as the money being invested in the fight is translating into victory.She said the decision to procure modern equipment was bourne out of the commitment to improve the capability of the military to deal with terrorism.

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