ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.
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...
The Nigerian army on friday paraded one Prince Onyemauche accused of impersonation as a Colonel in the army.Army spokesman Colonel Sani Usman while parading Onyemauche before journalists at the army headquarters in Abuja said he was arrested with an automatic rifle and pistol.Usman said Onyemauche was arrested alongside one sergeant Jacob Phillip by troops of 176 Special Forces Gurads Battalion at about 12:30 in the early morning of 17th February 2016,along Wazobia Motor Park,Gwagwalada Abuja.He said after the arrest both suspects were carried to Gwagwagalada Barracks where a search on the Pick-up revealed an AK 47 Rifle,with registration number 3290 and four magazines,out of which two were loaded with 42 rounds of 7.62 ammunition.He added that ''A lugar pistol,21x 9mm Parabellium ammunition and the sum of one million,eleven thousand three hundred naira {N1,011,300.00} was found''.Usman said initial investigation revealed that Onyemauche had habitually been illegally using soldiers as escort while travelling out of Lagos to his village in Imo state and sometimes to Abuja.He said ''The three identified soldiers,including Sergeant Jacob Phillip,who travelled with the suspect without official authorization,are awaiting trial by a court martial''.Usman stated that Onyemauche would be handed over to the civil police for further investigation and prosecution. 
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