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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EX-HOUSE OF REP MEMBER ''FAPARUSI'',IS CALLING FOR THE SACK OF THE CBN GOVERNOR TODAY.

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                A former member of the House of Representatives,Bamidele Faparusi,has called for the immediate removal of the Central Bank Governor,Godwin Emefiele.He hinged his call for Emefiele's sack on what he described as ''Poor management of the country's forex and fluctusation of the Naira on daily basis since he {Emefiele} assumed office during Goodluck Jonathan's administration.Faparusi who represented Ekiti South Federal Constituency 2 between 2011 and 2015,said it was quite disturbing that a dollar is now being exchanged for N3010 in the parallel market,when the official rate is N198,due to inconsistency of the CBN's forex policy under Emefiele.Speaking in a chat with reporters in Ado Ekiti on Monday,the All Progressives Congress {APC} chieftain expressed dismay that alleged poor handling of the economy under Emefiele's watch has led to the collapse of many businesses.''Many businesses have been crippled because of the poor handling of the economy under Mr.Emefiele.He has no reason to remain on that seat.He has been running the economy in a trial and error form.None of his policies had lasted for two weeks''.One more photo below.                                                                                                                                         

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