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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IBB OWES N152M, TAMBUWAL N18M FOR ABUJA PLOTS- WIKE'S AUDE REVEALS. (PHOTO).

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 IBB Owes N152M, Tambuwal N18M for Abuja Plots – Wike’s Aide Reveals


Lere Olayinka, Senior Special Assistant on Public Communications to the Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that 9,532 individuals owe money for land allocated to them in Abuja. 


Among the defaulters, former Military Head of State Ibrahim Babangida (IBB) owes N152 million for a plot in Asokoro, former Benue Governor Samuel Ortom owes N950,000 for a plot in Bazango, and Senator Aminu Tambuwal owes N18 million for land in Carraway Dallas. Olayinka shared the details on his Facebook, urging the defaulters to pay their outstanding bills, as the FCTA has given them two weeks to settle. Under Wike’s leadership, the Federal Capital Development Agency (FCDA) has been carrying out demolitions and land revocations in the FCT.

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