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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HOUSE OF REPS CONFIRMS OLUYEDE'S APPOINTMENT AS CHIEF OF ARMY STAFF. (PHOTO).

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 House Of Reps Confirms Oluyede’s Appointment As Chief Of Army Staff


The House of Representatives on Thursday confirmed the appointment of Olufemi Oluyede as the Chief of Army Staff (COAS). 


While the constitution does not make provision for confirmation of appointments by the House of Representatives, the lawmaker adopted a report of its ad–hoc committee on the confirmation/screening of the Acting Chief of Army Staff and confirmed the appointment of Lieutenant General Oluyede as the Chief of Army Staff.


Chairman of the committee Babajimi Benson in presenting the report, said Lt. Gen. Oluyede had satisfied all requirements.

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