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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ANAMBRA STATE TO GET FIRST GAS PIPELINE. (PHOTO). #PRESS RELEASE.

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 Anambra State To Get First Gas Pipeline


By Okechukwu Nwanneka Theresa


The Nigeria Gas Infrastructure Company, a subsidiary of NNPCL in partnership with Fradro Gas and Power, has concluded plans to lay a 24 inches, 600 million (six hundred million) standard cubic feet Gas pipeline from Agbor to Awka to give Ndi Anambra a sense of belonging. 


The Gas pipeline, which is the first of it's kind in the history of Anambra State, will be layed under the River Niger, passing through Onitsha to Awka with its city gates in both cities opening up a new business, employment opportunities, direct and indirect jobs along the corridor. 


Speaking during a preparatory meeting with stakeholders drawn from the Association of Anambra State Chambers of Commerce, Industry Mines and Agriculture, and Manufacturers Association of Nigeria (MAN), the state Commissioner for Petroleum and Mineral Resources, Mr. Anthony Ifeanya, urged the assembly to assist in identifying stakeholders and offtakers for the project he described as a game-changer. 


Commissioner Ifeanya further disclosed that a larger stakeholders meeting has been scheduled to hold on 28th May, 2025, by the Nigeria Gas Infrastructure Company, a subsidiary of NNPCL in partnership with Fradro Gas and Power, to make the project a worthwhile. 


For the Commissioner for Commerce and Industry, Mr. Christian Udechukwu, they do not lack investors in the sector but only prefer that the operators are Ndi Anambra, hence their invitation as the first destination point of disseminating the information.


The Special Assistant to Governor Chukwuma Soludo on Petroleum and Mineral Resources, Mr Ikechukwu Okafor, weighed- in his technical expertise on the comparative advantages of using  Gas to fuel thermal power stations and other  associated business that need gas to fire furnaces


Reacting, the Deputy Chairman, Association of Anambra State Chambers of Commerce, Industry Mines and Agriculture, Dr. Ndubuisi Nwobu and the President, Onitsha Chambers of Commerce, Chief Augustine Ibeme, while heaving a sigh of relief, appealed to state government to invest in Gas  turbines in IPP's to  achieve power security and further reduce the cost of electrical power to  investors.


* Okechukwu is of the Ministry of Information, Anambra State *

More photos below. 




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