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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TCN INCREASES POWER SUPPLY TO ENUGU, EBONYI, AND PARTS OF BENUE STATES. (PHOTO).

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 TCN Increases Power Supply to Enugu, Ebonyi, and Parts of Benue States


The Transmission Company of Nigeria (TCN) has announced a significant boost in electricity supply to Enugu, Ebonyi, and parts of Benue States. 


In a statement released on Monday via its official X account, TCN revealed that it has successfully energized a 150MVA 330/132/33kV power transformer at the 330kV New Haven Transmission Substation in Enugu. This upgrade has increased the substation's capacity from 360 MW to 480 MW, allowing Enugu Electricity Distribution Company (EEDC) to lift more bulk power for distribution to its customers across Enugu, Ebonyi, and parts of Benue.


TCN emphasized that this move enhances the power availability in the region, providing a more reliable supply to the affected states.


This development comes at a time when Nigeria has faced multiple national grid collapses, with the grid having failed at least twelve times in recent months, leading to widespread power outages across the country. 

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