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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A WITNESS REVEALED TODAY IN COURT,HOW HE RECEIVED N108M FROM EX-CHIEF OF DEFENCE STAFF ''BADEH''.

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                          At the resumed trial of a former Chief of Defence Staff,CDS,Air Chief Marshal Alex S. Badeh,today tuesday,May 24,2016 the fourth prosecution witness,PW4,Mustapha Yerima gave Justice Okon E, Abang of the Federal High Court Abuja a blow-by-blow account of how he was paid the sum of N108million through Badeh's company,Vetivo Nigeria Limited.Yerima whose testimony started yesterday stated that,the process of the payment came through a third party.According to Yerima ''The payment that came through a third party is as a result of the meeting between myself,Air Comodore Yushau {a retired Air Commodore and former director of finance and account} and Badeh.This was prior to my meeting with Air Commodore Yushau and Barrister Timothy Muje.At the meeting,Yushau introduced Timmothy to me as the lawyer to Air Chief Marshall Badeh since he {uushau} was retiring.He said i should transfer all the necessary documents to the Lawyer { Timothy}''.He stated that ''Yushau came to the said meeting with prepared Deed of Assignment and Power of Attorney with his company's name and another document transfering the title from Ryte Builders to Edile Construction Company.He was given a copy to sign and he did.He was given a copy to sign and he did.He said he handed over to Timothy,the original Certificate of Occupancy,C of O, and the Deed of Assignment''.After the transfer of the documents,Yerima claimed that he received the sum of N108 million.''I received an alert from one Vetivo Nigerian Limited.I called Badeh and he confirmed that Vetivo Nigeria Limited was his and he instructed that the money be paid into my company's account'',Yerima revealed.One more photo below.                                                                         

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