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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M23 REBEL SPOKESPERSON KILLED IN DRC ARMY DRONE STRIKE, OFFICIALS SAY. (PHOTO).

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 M23 rebel spokesperson killed in DRC army drone strike, officials say


The military spokesperson for the M23 rebel group, Willy Ngoma, was killed in an army drone strike in eastern Democratic Republic of Congo on Tuesday, a regional diplomat, a senior rebel official and a Western adviser to the government said.


The killing comes as Qatar-mediated ceasefire efforts continue, with Kinshasa and M23 having signed agreements in Doha to establish a joint ceasefire monitoring and verification mechanism involving Qatar, the United States and the African Union as observers.


M23 controls large swathes of North and South Kivu provinces after a lightning offensive last year in which the rebels seized the strategic cities of Goma and Bukavu.


The deadly strike on Tuesday happened near Rubaya, in North Kivu, at around 3 a.m. (0100 GMT), and came after several days of sustained drone offensives on the area by the Congolese army, the senior M23 official told Reuters.


Strategic area


Rubaya is a strategic coltan-mining hub that produces around 15% of the world's supply, making it a key financial stronghold for the M23 rebels.


A spokesperson for the Congolese presidency declined to comment and a spokesperson for DR Congo's army did not immediately respond.

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