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 FEDERAL HIGH COURT JUDGES REPORT TO EFCC TODAY SEQUEL TO BRIBERY & MONEY LAUNDERING ALLEGATIONS.{PHOTOS}.

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                          Two Federal High Court judges Mohammed Nasir Yunusa and Hyeladzira Ajiya Nganjiwa today,17th October,2016,reported to the Lagos Office of EFCC.The judges arrived at the Commission's Lagos Office following an invitation letter the EFCC extended to them.Their invitation is sequel to the bribery and money laundering allegations the Commission discovered during investigations in an ongoing case in which two senior lawyers have already been arraigned in court.It would be recalled that the EFCC had on March 9,2016,arraigned two senior lawyer Rickey Tarfa SAN and Joseph Nwobike SAN,before a Lagos High Court on allegations of bribery and offering gratification to a public official.Nwobike and Tarfa are facing criminal prosecution for allegedly offering gratification to Federal High Court judges to refrain them from exercising the duties of their office.Subsequent investigation revealed that the two Judges allegedly received sums of money from the two senior lawyers severally.The judges are presently being attended to by operatives of the commission.More photos below.

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