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...

FAKE NEWS: NIGERIAN ARMY REACTS TO RUMOUR OF COAS LAGBAJA'S DEATH.(PHOTO).


 Nigerian Army reacts to rumour of COAS Lagbaja’s death


The Nigerian Army on Sunday reacted to reports claiming that the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, is dead.


An X user, Jackson Ude, had claimed that Labaja died of cancer in an undisclosed hospital overseas about 48 hours ago.


Ude claimed that Lagbaja’s death had been kept silent due to intense lobbying by some top army generals.


He posted: “CHIEF OF ARMY STAFF DIES OF CANCER.” The Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, has died. Lagbaja died in an undisclosed hospital overseas nearly 48 hours ago from stage three cancer, according to a senior government official.


“The death of the Chief of Army Staff has been kept secret because of intense lobbying by some generals who want to take the position.


“Lagbaja, born on February 28, 1968, in Ilobu, Osun State, was appointed by President Bola Tinubu in June 2023, as the 27th Chief of Army Staff.”


But reacting, the Nigerian Army dismissed the claim, which it tagged “false.”


Meanwhile, the spokesman of the Nigerian Army, Onyema Nwachukwu, had said Labaja was on leave.


Nwachukwu said the Army Chief of Policy and Plans, Major General Abdulsalami Ibrahim, would act in Lagbaja’s stead.

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