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...

SUPREME COURT STRIKES OUT IHEDIOHA'S SUIT AGAINST UZODIMMA.(PHOTO).



Supreme Court strikes out Ihedioha’s suit against Uzodimma


The Supreme Court has dismissed a plea by Emeka Ihedioha of the Peoples Democratic Party (PDP) in Imo State seeking a certificate of return as the state’s lawful governor.


Ihedioha had told the apex court that Governor Hope Uzodinma was not qualified to run for the election in the first place, claiming that Uche Nwosu was earlier declared by the court as the rightful candidate of the All Progressives Congress, APC.


In a verdict read by Justice Tijjani Abubakar on Tuesday, the Supreme Court dismissed the motion for lack of merit, calling it needless and vexatious.


It awarded the cost of N40 million against Mike Ozekhome for bringing the matter before the court.
 

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