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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TURKEY DETAINS NINE IN ISTANBUL ATTACK ON POLICE OUTSIDE ISRAELI CONSULATE. (PHOTO).

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 Turkey detains nine in Istanbul attack on police outside Israeli consulate

  

Turkish authorities have detained nine individuals in connection with an attack on police outside the Israeli Consulate in Istanbul that left one assailant dead. The incident occurred on Tuesday in the city’s financial district, where two other attackers were wounded and captured. Two police officers suffered minor injuries during the shootout.

At the time of the attack, the consulate was closed, as Israel had withdrawn its diplomats from Turkey amid security concerns and worsening relations following the outbreak of the war in Gaza. Interior Minister Mustafa Ciftci said one of the assailants was linked to a group that “exploits religion,” though he did not name the organization. Authorities reported that the attackers traveled from Izmit in a rented car, and the two wounded assailants, brothers Onur C. and Enes C., are now in custody. Security forces carried out operations in Istanbul, Konya, and Kocaeli to detain the nine suspects, who are being questioned alongside the injured attackers. Israel condemned the attack and commended Turkish authorities for averting further violence.


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