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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2 ISLANDS TO BE PURCHASED IN GREECE FOR REFUGEES,BY AN EGYPTIAN BILLIONAIRE ''SAWIRIS''.

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               According to CCTV,an Egyptian billionaire identified as Nagulb Sawiris has offered to purchase Mediterranean islands for refugees to call home and earn a decent living.The tycoon has identified two private Greek islands which he is negotiating to acquire.The story of the three year old Syrian child Aylan who washed up to a beach in Turkey after their boat capsized is what moved the billionaire to action.His plan to give the refugees an island has been stalled by lack of communication from Italy and Greece.Sawiris said in a statement that he has been approached by the {United Nation's refugees Agency UNHCR}to collaborate in the settlement project.The initial stage of the project is estimated to be worth 100 million dollars.Naguib Sawiris is the CEO of Orascom Telecom Media and Technology based in Cairo.The tycoon is the third richest man in Egypt and his ranked 10th richest man in Africa by Forbes.

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