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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GOVERNOR FAYOSE OF EKITI,DEBUNKS RUMOURS THAT HE PAID HIMSELF N720 MILLION.

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           Chief Press secretary of Fayose,Idowu Adelusi said that the governor,in a broadcast noted that ''The resolve of the people to massively vote for their choice and subsequently defend the mandate given to him in the face of stiff opposition reaffirmed that power resides with the people''Fayose said he will continue to ensure that the welfare of the people remained his priority as he debunked the rumour that he had paid himself over N720 million as allowances for his first tenure,saying ''It it is only a heartless leader that will do such at a period the state is facing financial challenges''.Fayose asked people of the state to always demand for evidence whenever such rumours were being peddled,noting that he will not amass wealth at the expense of the welfare of the people.

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