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...

COURT ADJOURNS NAIRA MARLEY'S TRIAL TILL FEB. 16.[PHOTO].#PRESS RELEASE.

 Court Adjourns Naira Marley’s Trial Till Feb.16


Justice Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos has adjourned the trial of Azeez Fashola, also known as Naira Marley, till February 16, 2022. Marley is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on an 11-count charge bordering on conspiracy and credit card fraud. He pleaded "not guilty" to the charges when he was arraigned on May 20, 2019.


At the last sitting on October 27, 2021, Augustine Anosike, a forensic analyst testifying as the second prosecution witness, had concluded his examination-in-chief. The court subsequently adjourned till November 30, 2021 for cross-examination.

At today's proceeding, however, the prosecuting counsel, Rotimi Oyedepo, told the court that the witness was absent in court on "compassionate grounds”.

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