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...

FG TO NIGERIANS: ATTACK ON SOUTH AFRICAN BUSINESSES IN NIGERIA WILL HURT NIGERIANS MORE.{PHOTOS}.#PRESS RELEASE.

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     The Federal Government has appealed to Nigerians not to attack South​ ​African companies operating in Nigeria in retaliation for the ongoing​ ​xenophobic attacks against Nigerians in South Africa.
In a statement issued in Abuja on Tuesday, the Minister of Information
and Culture, Alhaji Lai Mohammed, described as deeply disturbing the
reports that some Nigerians, angered by the xenophobic attacks in
South Africa, have started attacking South African companies in
Nigeria.
He said that targetting South African companies in Nigeria for attack
is, for Nigerians, a classic case of cutting off your nose to spite
your face, because the investors in such companies, especially MTN and
Shoprite, are Nigerians.
Alhaji Mohammed said the majority of the workers in the South African
companies operating in Nigeria are also Nigerians, meaning that its
Nigerian workers who will be hardest hit if such companies are forced
to shut down for fear of attacks.
He assured Nigerians that the Federal Government is already taking
decisive measures to put an end to the persistent xenophobic attacks
against Nigerians in South Africa.
''President Muhammadu Buhari has dispatched a Special Envoy to convey
to his South African counterpart, President Cyril Ramaphosa, his
concerns and also interact with his South African counterpart on the
situation.
''Also, the Minister of Foreign Affairs, Mr. Geoffrey Onyeama, acting
on the instruction of Mr. President, has summoned the South African
High Commissioner to Nigeria to get a brief on the situation; express
Nigeria’s displeasure over the treatment of her citizens; and secure
assurance of the safety of their lives and property,'' the Minister
said.
Segun Adeyemi
SA To Hon Minister of Information and Culture
Abuja
3 Sept. 2019.
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