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...

SENATE MOURNS DEMISE OF IFEANYI UBAH. (PHOTO).


 Senate Mourns Demise of Ifeanyi Ubah


The Nigerian Senate has mourned the death of Senator representing Anambra South district in the National Assembly, Ifeanyi Ubah.


He was said to have departed Nigeria for the UK, two days ago.


Ubah died in the United Kingdom where he went for an operation.


He would have been 53 on September 3.


A statement signed by the Senate Spokesman, The Nigeria Senate, Senator Yemi Adaramodu on Saturday in Abuja, described Mbah as an exemplary leader.


It said, “It is with deep sorrow and profound regret that the Nigeria Senate announces the passing of our esteemed colleague, Senator Ifeanyi Uba, who until his passing represented the Anambra South Senatorial District.


“Senator Uba was an exemplary leader, a committed public servant, and an indefatigable advocate for his constituents. His untimely departure represents a significant loss to the Senate, his community, and the nation at large.


“Prior to his illustrious career in public service, Senator Ifeanyi Uba distinguished himself as a prominent businessman and philanthropist. As the founder and CEO of Capital Oil and Gas Industries Limited, he made substantial contributions to Nigeria’s energy sector, fostering economic growth and creating numerous job opportunities. Through the Ifeanyi Uba Foundation, his philanthropic endeavours provided scholarships, healthcare, and vital support to the less privileged, profoundly impacting countless lives.


“Throughout his tenure in the Senate, Senator Uba demonstrated unwavering dedication to the progress and development of Anambra South and Nigeria as a whole. He was a beacon of hope, a champion of economic empowerment, and a steadfast supporter of legislative reforms aimed at improving the lives of all Nigerians.”


Expressing his condolences, the Senate President, Godswill Akpabio remarked, “Senator Ifeanyi Uba was a dedicated and passionate legislator whose contributions have left an indelible mark on our nation. His commitment to his constituents and his work in the Senate were exemplary. He will be greatly missed by all who had the privilege of knowing and working with him.”


The Nigeria Senate further extended its deepest sympathies to Senator Uba’s family, friends, constituents, and the government of Anambra State.


“We pray that they find strength and solace in the legacy of service and dedication he leaves behind. His memory will forever remain in our hearts, and his contributions to our nation’s progress will continue to inspire us all.


“May his soul rest in perfect peace.”

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