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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RESPECT OWNERS OF LAND- OBA OF LAGOS TELLS IGBOS. (PHOTO).

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Respect owners of land - Oba of Lagos tells Igbos

The Oba of Lagos, Oba Rilwan Akiolu, has urged Igbos to cooperate with the state government and respect the “owners of the land.”
Akiolu said Governor Babajide Sanwo-Olu of Lagos State can’t deliberately demolish their properties.
He spoke while receiving the President-General of Ohanaeze, Emmanuel Iwuanyanwu at his Palace yesterday.
Some Igbos residing in Lagos State had cried out over the demolition of their properties and shops by the state government.
They accused the Sanwo-Olu administration of ethnic profiling through the demolition of their properties in the state.
However, Akiolu said: “We know Igbos are very hard working, but you have to respect the owners of the land. We have identified the problem in Nigeria, and what we want is a solution.
“I am appealing to you in the name of God. The governor cannot deliberately destroy your property. Just play according to the rules of the game.
“To the Igbo, anybody who wishes the best for Lagos is a Lagosian.
“I assure Ndigbo that nobody will maliciously mistreat you. All of you should cooperate with the Lagos government to move the state forward.”

 

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