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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IKOYI CLUB SUSPENDED THE HUSBAND OF OIL MOGUL 'FOLORUNSHO ALAKIJA'.{PHOTOS}.

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Modupe Alakija, the 72-year-old husband of oil mogul, Folorunsho Alakija has been seriously dealt with by one of the social clubs he belongs to, Ikoyi club, Lagos, for gross misconduct.
  Alakija who is also the chairman of the family owned oil business, FAMFA Oil, has been suspended for assaulting a fellow member.  
His victim, a prominent member of the club, was reportedly ‘rude’ to him and before one could say Jack Robinson, Alakija dazzed the guy with a blinding slap. 
 The man also responded with an equally blinding slap and pounced on Alakija, who didn’t see the ferocious attack coming.
But the FAMFA chairman regained his momentum and both of them landed on the floor with the victim getting pummeled on all sides. Eventually, he was extricated from the grip of Alakija well battered, The Capital is reporting. 
 For his unruly behaviour, he got a year suspension which is to end in November of 2022.

Alakija reportedly parades himself like a the n god who likes friends and associates to worship the ground he walks on for being the husband of a wealthy oil mogul.  
Unfortunately, his ego has been badly punctured from the outcome of that incident.
One more photo below.

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