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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ABIA GOVT POSTPONES PORT HARCOURT ROAD COMMISSIONING TO JUNE. (PHOTO).

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 Abia Government Postpones Port Harcourt Road Commissioning to June


The Abia State Government has announced the postponement of the commissioning of the Port Harcourt Road project, initially scheduled to be flagged off by President Bola Ahmed Tinubu. The delay was disclosed by the state’s Commissioner for Information, Prince Okey Kanu, during a press briefing on Tuesday.


“I am sure some of you may have been hearing about it through the grapevine, so this is a formal announcement that the exercise has been put off,” Kanu stated. “I recall that Mr. President, Senator Ahmed Bola Tinubu, was to be on hand to flag off that project, but due to his schedule at this time, he elected to come to the state sometime in early June to flag off the project.”


The commissioner did not provide further details on the specific reasons for the president’s scheduling conflict but confirmed that the event has been rescheduled for early June. The Port Harcourt Road project is a significant infrastructure initiative in Abia State, and the commissioning is expected to draw considerable attention once it takes place.

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