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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PARTS OF EDO, DELTA TO EXPERIENCE OUTAGE FOR 13 DAYS, SAYS TCN. (PHOTO).

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 Parts of Edo, Delta to experience outage for 13 days, says TCN


The Transmission Company of Nigeria (TCN) at the weekend said parts of Delta and Edo States are to experience outage for 13 days owing to the commencement of erection of two towers.

TCN also said the outage will be due to the restringing of the Benin-Delta and Delta-Oghara 132kV double circuit transmission lines.

Public Affairs, General Manager, Ndidi Mbah made this known in a statement.

She said: “The Transmission Company of Nigeria (TCN) hereby states that it will commence the erection of two (2) number 132kV transmission towers at its Amukpe Transmission Substation and will equally restring a portion of the Benin-Delta and Delta-Oghara 132kV double circuit transmission lines, from tomorrow, Saturday, May 4th to 17th, 2024.”

According to her, Amukpe substation will be out for the duration of the work.

She added bulk power supply to Benin DisCo through the following feeders: the ADEJE, INDUSTRIAL, WOODLAND, MOSOGAR, SAPELE (SAPELE) and ABRAKA feeders will be out of bulk power supply for the period.

The spokesperson noted that the outage is necessary to create a safe working environment for the contractor. Completion, of the projects will put in place N-1 redundancy that would enable TCN supply bulk electricity to the substation from either the Benin or Ughelli transmission line.

Mbah said this means that when one transmission line is faulty, bulk electricity can still be received in the substation from the second line.

She said TCN apologises for the inconvenience electricity consumers supplied from the substation will experience within the period, but notes that the projects will help ensure a more flexible and consistent bulk power supply through Athe Amukpe Transmission Substation.. 

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