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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PRESIDENT TINUBU MOURNS PA OLUSANYA DAVID SOTINRIN, RENOWNED PETROCHEMICAL ENGINEER.(PHOTO).

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 PRESIDENT TINUBU MOURNS PA OLUSANYA DAVID SOTINRIN, RENOWNED PETROCHEMICAL ENGINEER


President Bola Tinubu has paid a glowing tribute to Pa Olusanya David Sotinrin, a distinguished petrochemical engineer and oil and gas expert, as well as the father of Ayo Sotinrin, the Chief Executive Officer of the Bank of Agriculture. 


In a statement by Bayo Onanuga Special Adviser to the President, Information & Strategy, "President Tinubu describes late Pa Sotinrin as one of the silent pillars of Nigeria's energy development whose expertise, discipline, and integrity contributed immensely to the evolution of the country's oil and gas landscape.


The President acknowledges Pa Sotinrin's decades of service in the petrochemical and energy sector, which helped shape industry standards, strengthened local capacity, and inspired a generation of engineers who today remain beneficiaries of his mentorship and pioneering knowledge.


"Pa Sotinrin belonged to a class of gifted Nigerians who saw their profession as a calling and offered their talents in service to the nation. His brilliance, humility, professionalism, and commitment to excellence stood him out. "Nigeria has lost a rare gem whose work helped build the foundations of our modern petrochemical industry," the President notes.


President Tinubu extends his condolences to the Sotinrin family—especially his son, Ayo, and other loved ones—urging them to take solace in the remarkable legacy their father left behind." It concludes.

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