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...

SENATE RECEIVES PRESIDENT TINUBU'S REQUEST TO CONFIRM INEC CHAIRMAN. (PHOTO).


 

SENATE RECEIVES PRESIDENT TINUBU'S REQUEST TO CONFIRM INEC CHAIRMAN


President Tinubu writes Senate seeking confirmation of Prof  Joash Amupitan as  chairman of independent national electoral commission INEC.


President of the Senate Godswill Akpabio read the letter of request alongside other communications to the senate from the President for approval of appointments.


The request is in line with the provisions of the constitution of the federal republic of Nigeria.


The request has been referred to the committee of the whole.

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