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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COURT ORDERS INTERIM FORFEITURE OF 48 PROPERTIES LINKED TO EX-NSTIF CHAIR.{PHOTOS}.

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Court Orders Interim Forfeiture of 48 Properties Linked to Ex ... 
   .Justice Taiwo Taiwo of the Federal High Court, Abuja, on Wednesday, July 1, 2020, ordered the interim forfeiture of 48 choice properties, allegedly belonging to the former Chairman of Nigerian Social Insurance Trust Funds, NSITF, Dr. Ngozi Olejeme.
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The affected properties are spread across, Federal Capital Territory, Abuja, Bayelsa, Enugu, Edo and Delta states.
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Dr. Olejeme who was also the Treasurer of the Jonathan-Sambo Campaign Organisation in 2015 has been on the run since 2016 and was in September, 2017, declared wanted by the Economic and Financial Crimes Commission, EFCC for criminal conspiracy, abuse of office, diversion of public funds and money laundering.
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