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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BODIES OF MIKE LYNCH AND HIS DAUGHTER HANNAH FOUND IN SUNKEN £30M SUPER YACHT. (PHOTO).

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Bodies of Mike Lynch and his daughter Hannah found in sunken £30m superyacht


Two bodies found in the wreck of Mike Lynch's superyacht were today confirmed as the tech mogul and his daughter Hannah.

The bodies of Lynch, 59, and his 18-year-old daughter were discovered in one of the ship’s cabins ‘between two mattresses’ on Wednesday.


Divers have been trying to access the cabins of the Bayesian since it went down on�Monday morning.

Earlier, the brother of James Cutfield, the captain, said his sibling was a "respected" sailor with years of experience on luxury yachts.

Cutfield, a 51-year-old from New Zealand, who survived the shipwreck, is recovering in hospital with his wife by his side


The Chief of Civil Protection later confirmed the bodies had been identified as Mr Lynch and his daughter, before announcing that two more bodies have been found and are about to be recovered by divers.

The freak incident came as the 59-year-old, known as 'Britain's Bill Gates', was enjoying a 'victory trip' to celebrate winning his US fraud trial over the £8.3billion sale of his tech firm Autonomy to Hewlett-Packard.


Four other guests have been missing since the sinking, with specialist divers desperately trying to access the boat amid hope survivors could be alive in air pockets inside the vessel.

Those still unaccounted for are Morgan Stanley boss Jonathan Bloomer, his wife Judy and US citizens Chris Morvillo and his jewellery designer wife Neda Morvillo. The body of one crew member, chef Recaldo Thomas, was found on Monday


Salvo Cocina, the director of Sicily's civil protection agency, confirmed two bodies were found in the wreck today and that divers have already brought them to the surface.

He said 'On behalf of myself and my colleagues, I would like to express my deepest sympathy to the families of the victims and express our condolences and closeness to them at this difficult time.' 

The challenging operation has been hampered by issues, including access to cabins being blocked by debris and thick silt preventing divers from being able to see inside windows.

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