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...

ABUJA AIRPORT RUNWAY CLOSED AS AERO AIRCRAFT CRASH-LANDS. (PHOTO).


Abuja airport runway closed as Aero aircraft crash-lands

A Boeing 737 passenger jet belonging to Aerocontractors Airlines crash-lands at the Nnamdi Azikiwe International Airport, Abuja on Sunday morning.

Although no injury or fatality was recorded, the Nigerian Safety Investigation Bureau, an agency of the Federal Government, confirmed that the aircraft got involved in a “serious accident” around 10.47 am upon arriving at the NAIA from Lagos.

The Director, Public Affairs and Consumer Protection, NSIB, James Odaudu, confirmed this in a statement issued in Abuja on Sunday, adding that investigations into the accident.

“The Nigerian Safety Investigation Bureau has been notified and has commenced an investigation into a serious incident involving a Boeing 737 with nationality and registration marks 5N-BYQ belonging to Aerocontractors Airlines, which occurred around 10:47 am (local time) on November 12, 2023.

“The aircraft upon landing at the Nnamdi Azikiwe International Airport, Abuja from Lagos and in a bid to exit the runway via A4 had its nose wheel stuck in the grass verge with its fuselage on the runway.

“Consequently, the runway was closed pending the towing of the aircraft from the runway. There was no injury or fatality.”

Recall that last week Friday, a private jet conveying the Minister of Power, Adebayo Adelabu, from Abuja to Ibadan crash-landed at the Ibadan airport in Oyo State.

Although no injury nor fatality was recorded during that incident, investigations into the serious accident are still ongoing by the NSIB.

Meanwhile, the NSIB, on Sunday, called for information from the general public in the form of pictures, video, or recording evidence to assist in conducting a comprehensive investigation into the accident at the Abuja airport.

“The bureau can be reached through info@aib.gov.ng and NSIB_Nigeria on its social media platforms. The Bureau can also be reached on its emergency line +234-807-709-0909.

“The NSIB will appreciate that the general public and press respect the privacy of the people on board and not assume the cause of the serious incident until a formal report is released,” it stated.

The NSIB is a multimodal investigation agency charged with the mandate to investigate transportation accidents and serious incidents in Nigeria to identify the probable causes and proffer safety recommendations that can prevent reoccurrence.

The bureau said it would release the preliminary report as soon as possible.

 

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