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...

GOV OKPEBHOLO LAVISHED OVER N30BN LEFT BY OBASEKI IN 14 DAYS- PDP ALLEGES. (PHOTO).


 Gov Okpebholo lavished over N30bn left by Obaseki in 14 days – PDP alleges


Edo State chapter of the Peoples Democratic Party, PDP, has accused the Governor Monday Okpebholo-led government of squandering over N30 billion left in the state’s coffer by the immediate past government of Godwin Obaseki, two weeks after he was sworn-in as governor.


The caretaker committee chairman of the party in the State Dr Anthony Aziegbemi made the allegation at a press conference titled, “State of the Nation Address”.


Aziegbemi alleged that the money was spent by the governor to compensate “godfathers” who worked for him during the September 21, 2024, governorship election


The PDP caretaker committee chairman, who accused the APC-led government of not paying the state’s civil and public workers the November monthly salary, noted that the development was contrary to the record set by the former PDP-led government under the Governor Godwin Obaseki where the state’s workers received monthly salary on or before 26th of every month.


He also alleged that the APC-led government in the state had within two weeks in office procured over N5 billion worth of vehicles without a proper procurement process.


Aziegbemi, who further alleged that Governor Monday Okpebholo’s government was desperately looking for ways to pass entries for over N2 billion as inauguration costs, opined that the Edo State Procurement Act was at risk.

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