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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ALLEGED N100M BRIBE: TRIAL OF CHINESE BEGINS JUNE 29.{PHOTO}.

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    The trial of two Chinese: Meng Wei Kun and Xui Kuoi of China Zhongao Nigeria Ltd., slated to begin , Monday, June 15, 2020 before Justice Muhammad Sa'idu Sifawa of the Sokoto State High Court, could not go on as planned, following the withdrawal of defence counsel, Ahmed Raji & Co from representing the defendants. Based on this, commencement of their trial is now slated for June 29, 2020.
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The defendants are facing prosecution by the Economic and Financial Crimes, EFCC, for allegedly offering to bribe the Sokoto Zonal Head of the Commission, Mr. Abdullahi Lawal to the tune of N100,000 (One Hundred Million), out of which a part payment of N50,000.000.00 (Fifty Million Naira) in cash was offered on May 12, 2020. The suspects were promptly arrested by officers of the Commission.
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