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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WE'RE IN A SEASON OF NATIONAL DISTRESS- OYEDEPO. (PHOTO).

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 We’re in a season of national distress — Oyedepo


The Resident Pastor of Living Faith Church worldwide, headquartered in Canaan Land, Ogun State, David Oyedepo Jr., has said Nigeria was in a state of distress.


Speaking on the church’s third service, themed ‘’Convenant Day of Fruitfulness’’, Oyedepo urged Christian faithful to take cover in convenant stewardship.


He said:  “If you raised an empty Ghana-must-go bag in a windy environment, it would fly away, but if you have a heavy substance in it, no matter the hash wind, it would resist it.  The same applies to an individual without convenant practice in Christ Jesus.’’


Meanwhile, Presiding Bishop of the Church, David Oyedepo, while urging Christians to reach out to the needy around them to mitigate the economic hardship, disclosed that the church has opened several Kingdom care outlets to reach out to the needy through its Winners Satellite Fellowship,WSF across Nigeria.


According to him, this is to mitigate the economic hardship currently faced by Nigerians.


“It is not weakness to ask for help when you need it,’’ he said.

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