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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WALE EDUN TO BANKS: DEEPEN ACCESS TO CREDIT FOR SMEs. (PHOTO)

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 Wale Edun to banks: Deepen access to credit for SMEs


Wale Edun, minister of finance and coordinating minister of the economy, has called on Nigerian banks to support inclusive growth and deepen the capital market for small and medium enterprises (SMEs).


Edun spoke at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) held in Lagos over the weekend, themed ‘Banking Beyond Borders: Leveraging Technological Innovation for Enhanced Performance’.


The minister said although the economy is recording sustained growth, more effort is required to ensure inclusivity through job creation and access to finance.


“We now have what I would say is mr. President’s agenda. Rapid growth accelerating well above 4 percent, and we look for it to continue,” he said.

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