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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TENSION IN PLATEAU STATE AS MAN TRY TO DETONATE BOMB INSIDE BANK. (PHOTO).

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 There is currently tension after Security Operatives arrested a yet-to-be-identified man who reportedly tried to detonate a bomb within the premises of a bank in Plateau State, 9News Nigeria has learnt.


The incident reportedly took place on Monday, May 13, in Dadin Kowa town in the Jos South area of the state.


According to a post by security analyst Zagazola Makama on X on Tuesday, the vigilante security at the bank thwarted the attack when they noticed the suspect.


Angered by the situation, a mob attacked the suspect and reportedly demanded his execution.


It is unclear whether the suspect has ties to any terrorist organization in the country.


He has been taken to the police station for further investigation.

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