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...

NIGERIA ABSENT,AS AFRICAN LEADERS HEAD TO KYIV, MOSCOW ON MISSION.(PHOTO).



A group of African leaders trying to broker peace in the war in Ukraine will launch their mission to Moscow and Kyiv next month, a senior South African government official said Wednesday.

However, no leader from Nigeria was mentioned among the emissaries that would be meeting the parties in the Ukraine-Russia war.

President Cyril Ramaphosa announced Tuesday that Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky have “agreed to receive” African heads of state in Moscow and Kyiv.

Leaders of Zambia, Senegal, the Republic of Congo, Uganda, Egypt and South Africa, will lead the initiative which has been welcomed by the UN.

The dates must be confirmed,” Zane Dangor, the director-general in South Africa’s Foreign Affairs ministry, told lawmakers.

“But it will be early in June where the six heads of state will be shuttling between the two capitals to engage in the facilitating of peace talks or at least get towards a ceasefire.”

“We have also engaged with other actors including the US. There is general support for this initiative,” he said.

South Africa, which has close ties to the Kremlin since the anti-apartheid struggle years, has refused to condemn Russia’s invasion of Ukraine, saying it is “neutral” and prefers dialogue.

The peace plan bid could help Pretoria spruce up its image as a neutral player and mediator, following accusations that it has drifted towards Russia.

The announcement came a day after it emerged that South Africa’s ground forces commander was in Moscow to discuss military cooperation.


It was also made days after the US envoy to Pretoria accused South Africa of shipping weapons and ammunition to Russia in December.


South Africa held controversial joint military drills with Russia and China early this year.


It is due to host a summit of BRICS (Brazil, Russia, India, China and South Africa) countries in August to which Putin has been invited.


 

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