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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HOW GUNMEN KIDNAPPED AKWA IBOM COUPLE, ABANDONED TWIN BABIES. (PHOTO).

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 How gunmen kidnapped A’Ibom couple, abandoned twin babies


UYO— GUNMEN, last Sunday evening, kidnapped one Nyaknobong Etuk and his wife in front of the gate of their residence at Akpasak Estate, Mbiabong, off Oron Road, Uyo, leaving their infant twins abandoned.


It was gathered, yesterday, that the couple, natives of Oruk Anam Local Government Area of the state, went shopping along Oron Road in Uyo that Sunday and left their twin babies in the care of their house help.


It was learned that when they returned home that Sunday evening and hooted the horn of their car, but nobody came to open the gate for them, until the suspected kidnappers arrived in a mini-bus decorated with camouflage tarpaulin and ordered them out of their car.


They whisked them away in their mini bus to an unknown destination.


A family source, who spoke to newsmen in confidence, yesterday, expressed concern that the twins dedicated in the church about six months ago cried uncontrollably since the incident occurred.


The source added that the babies even refused other people cuddling or feeding them.


At press time, the suspected kidnappers have not made contact with the victims’ family for any ransom.


However, the State Police Public Relations Officer, Odiko MacDon confirmed the incident to newsmen, yesterday.


His words:“We are aware of the kidnap incident of the Director of Finance and his wife. The matter had been reported to us and the state Commissioner of Police, Waheed Ayilara, has directed the appropriate unit in the police force to investigate the matter with a view to rescuing the victims.”

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