The All Progressives Congress Presidential Campaign Council (APC-PCC) has raised legal and fiscal questions over former Vice President Atiku Abubakar’s proposed “production subsidy” for locally refined petrol, stating that the plan lacks a clear legal framework and could enrich smugglers rather than lower pump prices. In a statement issued by the council’s spokesman, Dele Alake, the APC-PCC noted that Atiku reiterated his proposed subsidy plan at a press conference in Abuja on Friday, claiming it would reduce pump prices, while also asking President Bola Tinubu to slash the cost of diesel and petrol at the pump. The council said the proposal raises important legal, fiscal, and practical questions, citing Section 205(1) of the Petroleum Industry Act (PIA) 2021, which provides that unrestricted free-market conditions shall determine wholesale and retail prices.
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