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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UPDATE: FORMER FRENCH PRESIDENT TO BE RELEASED FROM PRISON PENDING APPEAL. (PHOTO)

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 Former French president to be released from prison pending appeal

A Paris court on Monday approved the early release of former French President Nicolas Sarkozy from prison while he appeals his conviction in a campaign finance case. Sarkozy, who served as president from 2007 to 2012, was convicted in September of conspiring to secure funding for his 2007 campaign from the regime of Libyan leader Col. Muammar el-Qaddafi. He began serving his sentence on Oct. 21 at La Santé prison in southern Paris, after which his lawyers requested early release pending appeal.

The Court of Appeal granted the request, placing Sarkozy under judicial supervision that bars him from traveling abroad or contacting anyone involved in the case or French justice officials. It was unclear when he would be released from La Santé. Appearing by video link from prison, Sarkozy told the court that incarceration had been “very hard” and described the experience as “a nightmare,” maintaining his innocence. His wife, Carla Bruni-Sarkozy, and two of his sons attended the hearing in person. During his time in prison, Sarkozy was held in solitary confinement with access to a private cell, family visits, a library, and a gym, sparking debates about whether he received preferential treatment compared with other inmates. The court’s decision comes amid ongoing discussions in France over fairness, political influence, and judicial independence.


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