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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COURT DISCHARGES SOWORE, BAKARE, ORDERS DSS TO RELEASE SEIZED ITEMS. (PHOTO).

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 Court discharges Sowore, Bakare, orders DSS to release seized items


A Federal High Court, Abuja, on Monday, discharged Omoyele Sowore and Olawale Bakare of alleged treasonable felony charge by the Attorney-General.of the Federation (AGF), Mr Lateef Fagbemi, SAN.

Justice Emeka Nwite, in a ruling after counsel for the AGF, A.R. Tahir, withdrew the charge, struck out the matter.

Justice Nwite also ordered the Department of State Service (DSS) to immediately release three phones and the sum of N10, 000 seized from Sowore during his arrest.

The judge also ordered the DSS to release a phone belonging to Bakare and the sum of N1, 500 confiscated from him during his arrest.

Justice Nwite equally ordered that Sowore’s international passport be released.

The orders followed an application by lawyer to Sowore and Bakare, Mr Femi Falana, SAN, to tye effect.

The News Agency of Nigeria (NAN) reports that Sowore and Bakare were earlier arraigned before Justice Ijeoma Ojukwu in 2019 before the matter was reassigned to Nwite.

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