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 PRESIDENT OF ALGERIA,SACKED THE HEAD OF THEIR COUNTRY'S INTELLIGENCE TO CURB POLITICAL INFLUENCE.

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               According to sources,the president of Algeria Abdelaziz Bouteflika dismissed the head of the country's military intelligence agency Mohamed Mediene yesterday sunday,in a move to curb the chief spy's political influence.The president replaced him immediately with General Athmane Tartag a specialist in war against armed groups and a serving security advisor to the president.Ex-chief spy Mohamed Mediene popularly known as Toufik is a powerful figure in the country having served the intelligence service for more than 20 years.The president has been restructuring the military and the intelligence service which has included sacking several top generals.Election observers have seen this as the president's last measures before the end of his 15 year reign.

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