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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ACTING VC OF OAU & THEIR UNIVERSITY BURSAR WERE QUIZZED TODAY BY THE EFCC OVER MILLIONS OF NAIRA.{PHOTOS}.

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                      The acting Vice Chancellor,Obafemi Awolowo University,Prof. Anthony Elujoba and University Bursar,Mrs Aderronke Akeredolu are being quizzed at the Iyaganku officee of the Economic and Financial Crimes Commission,EFCC Ibadan,today 13th December,2016,in respect of an alleged case of illegal and corrupt diversion of N1.4 billion.According to the petition,Elujoba allegedly diverted the sum from the University's Fixed Assets and Endowment Fund without approval from the Federal Ministry and Governing Council of the University to pay some unapproved allowances from which he paid himself N7m {Seven Million Naira}.The VC and Bursar are still being interrogated.More photos below.

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