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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US ENVOY TO SOUTH AFRICA RESIGNS IN WAKE OF TRUMP WIN. (PHOTO).

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 US envoy to South Africa resigns in wake of Trump win


The US Ambassador to South Africa Reuben Brigety announced on Monday he will resign effective January 10, 2025, in line with procedure after change in presidential administration, Anadolu Agency reported.


Brigety's resignation came barely a week after the US's envoy to Kenya Meg Whitman also handed in her resignation in the wake of President Donald Trump's election victory.


"Today, I informed the Government of South Africa that I will resign as the US Ambassador to South Africa effective January 10, 2025, in accordance with standard procedure during a change of presidential administration. Serving in this role and fostering the strong relationship between the United States and South Africa has been an immense honour," Brigety said in a statement.


He said US ambassadors serve at the pleasure of the president, and with the recent election in the US, the American people have expressed their choice for the future direction of the country.


Reflecting on his tenure, Brigety said the US and South Africa witnessed "remarkable progress" in partnership.


"On trade, we have supported South African businesses in accessing the US market through AGOA (The African Growth and Opportunity Act) and fostered investments in the automotive, minerals, chemicals, agricultural products, and transportation sectors," he said.


The ambassador said these initiatives have contributed significantly to the country's economic development and support more than 267,000 jobs in South Africa.

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