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...

AGF ADVOCATES FBI-STYLE INVESTIGATION FOR EFCC, ICPC, CALL FOR THOROUGH CORRUPTION PROBES. (PHOTO).


 AGF Advocates FBI-Style Investigation for EFCC, ICPC, Calls for Thorough Corruption Probes


The Attorney General of the Federation, Lateef Fagbemi, has recommended that the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) adopt the Federal Bureau of Investigation (FBI) model for corruption investigations. Fagbemi stressed that thorough investigations should be completed before arrests are made, in contrast to the current trend of publicizing arrests before due process. 


He highlighted the importance of avoiding media trials and emphasized the need for diligent, behind-the-scenes investigations to avoid damaging suspects' reputations before the truth is revealed. Fagbemi also noted that while corruption is a global issue, the Nigerian government is committed to combating it through strengthened anti-corruption laws and effective action by agencies like the EFCC and ICPC.

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