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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GABON'S PRESIDENT OLIGUI NGEMA ARRIVES IN FRANCE FOR STATE VISIT. (PHOTO).

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 Gabon's President Oligui Ngema arrives in France for state visit


Gabon's President Brice Oligui Ngema kicked off a state visit to France on Monday, a follow up to French President Macron's visit to Libreville last year.


Topping the agenda is Gabon's demand for French company Eramet to being local processing of the manganese it mines in Gabon through local subsidiaries.


Libreville has set a deadline of January 2029 for all ore to be processed before export. Paris, however, is pressing for more time to set up the necessary infrastructure.


The two leaders will also discuss a greater withdrawal of French forces in Gabon and the land title to a former French army base in the country, Africanews reported.


Since taking office, Macron has been trying to revitalize France's relationship with Africa and confirm a break from the its colonial legacy.


Gabon remains one of the countries where France has maintained a strong presence even after the 2023 coup that brought Oligui Ngema to power.


Speaking in Libreville in November, Macron said Paris wants to support Gabon by defining new common priorities: economic, environmental, and the renewal of relationships through active youth involvement.

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