Tag: Senate

…demands full disclosure from Banks, CBN, FIRS, governors

The Senate has commenced a comprehensive investigation into stamp duty collections reportedly amounting to several trillions of naira, seeking full disclosure from commercial banks, the Central Bank of Nigeria (CBN), the Federal Inland Revenue Service (FIRS), and state governments.

Chairman of the Senate Public Accounts Committee, Senator Ahmed Aliyu Wadada, disclosed this during a press briefing in Abuja, stating that the probe was prompted by concerns over the “humongous” revenue generated from stamp duties between 2016 and 2024, much of which remains unaccounted for.

“It is one thing to generate revenue and another to ensure it is judiciously utilized,” Wadada said. “The legislature cannot afford to look the other way when trillions are at stake.”

According to him, the committee has written to all commercial banks requesting detailed records of stamp duty collections and remittances covering the eight-year period under review.

The committee has also directed the CBN to provide corresponding data on the amounts remitted by the banks and what was subsequently transferred into the Treasury Single Account (TSA).

In addition, letters have been sent to the FIRS to account for stamp duties collected on both government and private sector agreements, and to the Nigerian Governors’ Forum, chaired by Kwara State Governor AbdulRahman AbdulRazaq, to disclose proceeds received by state governments.

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Wadada assured that the investigation would be thorough, transparent, and aimed at ensuring accountability in the management of public revenues.

“We want to know what is where, and how effectively it has been used,” Wadada said.

“This is about accountability and ensuring every kobo collected on behalf of Nigerians is properly tracked.”

He added that the committee had received preliminary data from consultants but would wait to reconcile all submissions before making its findings public.

“We have a fair idea of what’s involved,” he said. “But we’re verifying every figure. Once that’s done, we’ll not hesitate to summon anyone necessary to explain discrepancies.”

He said that all concerned agencies have until November 25, 2025, to respond to the Senate’s requests.

“This administration has shown commitment to transparency.

“Our job is to make sure that the revenues it depends on are fully accounted for and effectively utilised for the benefit of Nigerians,” Wadada said.

…says road key to cocoa export, rural development

The Senate on Thursday urged the federal government to prioritise the construction of the Ode–Omifufu–Ofosu road in Idanre Local Government Area of Ondo State to enhance connectivity between Ondo and Edo States and boost agricultural productivity in the region.

The red chamber urged the Federal Ministry of Works and Housing to include the construction of the road in the 2026 capital budget and ensure prompt commencement of the project.

It also called on the Federal Roads Maintenance Agency (FERMA) to carry out immediate palliative works to make the road temporarily passable pending full reconstruction.

Additionally, the Senate asked the Federal Ministry of Agriculture and Food Security to collaborate with the Ministry of Works in prioritising road projects that enhance agricultural value-chain development, including the Ode–Omifufu–Ofosu corridor.

These resolutions followed the adoption of a motion sponsored by Senator Adeniyi Ayodele Adegbonmire (Ondo Central), titled: “Urgent need for the construction of the Ode–Omifufu–Ofosu Road in Idanre Local Government Area of Ondo State to Link Ondo State with Edo State.”

Adegbonmire in his lead debate, said Idanre, historically one of Nigeria’s major cocoa-producing areas, has contributed immensely to the nation’s agricultural and industrial output since the colonial era.

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He lamented that despite the area’s economic importance and rich agricultural base, it continues to suffer from infrastructural neglect, particularly poor road connectivity, which has hindered the evacuation of farm produce and stifled rural development.

The senator noted that the Ode–Omifufu–Ofosu road serves as a strategic corridor linking Ondo State with Edo State and the South-South region, facilitating the movement of cocoa, palm produce, plantain, timber, and other farm goods.

He, however, decried the deplorable condition of the road, saying it has become almost impassable, especially during the rainy season, leaving farmers stranded and leading to post-harvest losses of thousands of tonnes of produce.

Adegbonmire warned that the continued neglect of the road has deepened economic isolation for residents of Idanre and neighbouring communities, despite their significant contribution to Nigeria’s non-oil export sector.

He added that the situation runs contrary to the Federal Government’s commitments under the National Development Plan (2021–2025) and the Renewed Hope Agenda, both of which emphasise rural infrastructure and agricultural expansion as catalysts for national growth.

According to him, the construction of the Ode–Omifufu–Ofosu road would open up new economic opportunities in agro-processing, tourism, and local enterprise, while reducing travel time, transport costs, and accident risks.

The Committee on Works was mandated to engage with the relevant ministries and agencies to ensure compliance and report back to the Senate within eight weeks for further legislative action.

The Senate yesterday passed for the second reading a Bill seeking to amend the Customs, Excise, Tariffs, etc, Act to earmark revenue from excise duties on non-alcoholic, carbonated, and sweetened beverages for health-related programmes and infrastructure.

The Bill, sponsored by Senator Ipalibo Harry Banigo (Rivers West), aims to make Nigeria’s taxation system more responsive to the nation’s health needs by ensuring that part of the existing sugar-sweetened beverage (SSB) tax directly funds primary healthcare and preventive health initiatives.

Leading the debate on the Bill, Banigo, a medical doctor and former Rivers State deputy governor, represented by Senator Amos Yohanna, said the proposal was not about introducing a new tax but about putting existing revenues to better use.

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“This amendment is not merely fiscal in nature; it is a public health investment strategy that aligns taxation policy with our national health priorities,” she said.

“It seeks to redirect part of the current excise revenue from sweetened beverages to fund preventive health programmes and strengthen healthcare delivery at the grassroots…”

Banigo explained that excessive sugar consumption has become a major cause of non-communicable diseases (NCDs), such as diabetes, obesity, hypertension, and heart disease, which now account for more than 30 per cent of annual deaths in Nigeria.

The lawmaker regretted that despite the 2001 Abuja Declaration, where African leaders pledged to allocate 15 per cent of national budgets to health, Nigeria had not met the target.

“With dwindling donor support and the migration of health professionals, we must innovate within our fiscal system to secure sustainable domestic funding for health,” she added.

According to her, while several sectors, including education, defence, and technology, already benefit from dedicated levies, the health sector has been largely excluded.

“Public health is conspicuously missing from this framework. This Bill seeks to correct that by making health a beneficiary of excise revenues, particularly from products that contribute to poor health outcomes,” Banigo said.

If enacted, the senator said, the amendment would create a dedicated fund for preventive health programmes, community-level healthcare infrastructure, wellness education in schools and workplaces, and early screening for lifestyle-related diseases.

She cited successful global examples in South Africa, Mexico, and the United Kingdom, where earmarking excise taxes for health had improved public health outcomes and encouraged healthier consumption patterns.

“This approach will make Nigeria’s tax framework smarter, more purposeful, and people-centered,” Banigo said.

“Every naira collected from health-risk products should directly contribute to protecting and improving public health.”

Senator Idiat Adebule Oluranti (APC, Lagos West) supported the Bill but cautioned that it must not impose any additional tax burden on Nigerians.

Senate Chief Whip Mohammed Tahir Monguno also backed the Bill, stating that the initiative could fill the funding gap created by the withdrawal of donor support to the health sector.

But some senators argued that the amendment was unnecessary, suggesting that such fiscal adjustments could be handled by the Executive.

Deputy Senate President Barau Jibrin said: “You don’t need a bill to make these adjustments. It goes with fiscal policy and can be done by the Executive.

“Nigerians like alcoholic drinks and sugar; their profits should be taxed and the proceeds used to help Nigerians. Let’s not waste time on things that don’t require legislation.”

Despite the concerns, the Bill was approved for a second reading and referred to the Committees on Finance, Trade and Investment and Health for further legislative consideration and to report back in four weeks.

…Nigeria must not be left behind in global AI revolution – Adaramodu

The Senate on Tuesday passed for second reading a bill seeking to establish the Artificial Intelligence, Innovation and Communication Technology Solutions Centre in Omuo-Ekiti, Ekiti State, aimed at positioning Nigeria as a major player in the global digital economy.

Leading the debate on the bill titled: “Artificial Intelligence, Innovation and Communication Technology Solutions Centre (Establishment) Bill, 2025 (SB. 763),” sponsor of the bill, Senator Adeyemi Adaramodu (APC – Ekiti South), said the proposed centre would serve as a national hub for research, innovation, and development in artificial intelligence (AI) and emerging technologies.

According to Adaramodu, the world is fast being reshaped by artificial intelligence, digital innovation, and advanced technologies that now drive governance, commerce, education, healthcare, and national security.

“Nations that fail to invest strategically in these technologies risk being left behind in the 21st-century knowledge economy,” he warned.

He explained that the bill seeks to establish a specialized centre that will promote research and innovation in AI, robotics, data science, and other related technologies.

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The proposed facility, he said, would also encourage collaboration between government, academia, and private industry, while equipping young Nigerians with cutting-edge digital and AI-based skills for employment and entrepreneurship.

Adaramodu described the choice of Omuo-Ekiti as “strategic,” noting that Ekiti State has long been known as a cradle of education and intellectual excellence.

“The establishment of this Centre in Omuo-Ekiti will not only stimulate research and innovation but also catalyse economic growth in the South-West region and across the country,” he said.

He outlined the national benefits of the proposed centre, noting that it would serve as a platform for developing homegrown digital solutions to address local challenges in agriculture, health, education, and public service delivery.

The centre, he said, would empower Nigerian youths to compete globally in the AI and tech ecosystem, reduce dependence on imported technologies, and boost indigenous innovation.

“Artificial intelligence is the new frontier of human progress.

“Every developed nation is investing in AI infrastructure and innovation centres. Nigeria cannot afford to lag behind,” Adaramodu said.

He emphasized that the bill was not intended to create additional bureaucracy, but rather to establish a centre of excellence that would drive sustainable innovation and digital transformation nationwide.

“This Bill represents an important step toward securing Nigeria’s place in the global technological landscape,” he added.

“It aligns with our national goals of youth empowerment, job creation, and economic diversification.”

The bill, which received wide support from senators across party lines, after being read for the second time, was subsequently referred to the Senate Committee on Science, Technology, and Innovation by Deputy Senate President Jibrin Barau, who presided over plenary for further legislative action and to report back in four weeks.

The Senate on Thursday, cleared Nigeria’s largest carrier, Air Peace, of allegations of negligence and drug use by its pilots over the July 13, 2024 runway incident at the Port Harcourt International Airport.

This followed an investigative hearing by the Senate Committee on Aviation, which reviewed the Nigerian Safety Investigation Bureau (NSIB)’s preliminary report and found “serious inconsistencies and uncoordinated findings” in its conclusions.

Committee Chairman, Senator Abdulfatai Buhari (Oyo North), said after the hearing on Thursday that the Senate’s review showed that the NSIB’s report contained contradictions that could damage Nigeria’s aviation reputation before international regulators if left unaddressed.

“You can see that, unfortunately, most of those allegations are not true,” Buhari said. “The report was disjointed and not coordinated. You don’t accuse people wrongly, especially in aviation, where ICAO and other international laboratories are monitoring us closely.”

The lawmaker disclosed that the NSIB had initially alleged drug use by several members of the Air Peace crew before later revising the claim to only two individuals, describing the process as “embarrassing and poorly handled.”

Buhari commended Air Peace and other indigenous airlines for maintaining strict internal safety standards, including regular random drug and alcohol tests for crew members.

“Air Peace and United Nigeria Airlines are our own,” he said. “We need to support them, not damage their reputation with unverified claims. The most important thing is that no lives were lost, and the aircraft suffered no damage. It was towed and later flown back safely to Lagos.”

The senator added that the committee’s forthcoming report would recommend reforms to improve the quality and coordination of aviation investigations in the country, emphasizing that the Senate’s objective was not to witch-hunt any operator but to strengthen public confidence and ensure aviation safety.

Buhari also hinted that the Senate might soon consider legislation compelling federal agencies and government officials to patronize Nigerian airlines for official trips as part of efforts to boost the local aviation industry.

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Earlier, Air Peace Chairman and Chief Executive Officer, Mr. Allen Onyema, appeared before the committee to defend the airline’s safety record.

He described the NSIB’s preliminary report and the public speculation it triggered as “unfair and damaging” to the reputation of a proudly Nigerian airline that adheres to global safety standards.

“I initially did not want to honour this invitation,” Onyema said. “But on second thought, I came because the Senate members are our customers and have every right to be concerned about safety. I must, however, correct certain impressions created by the NSIB’s handling of this matter.”

He clarified that the aircraft involved in the incident suffered no mechanical faults and that the runway excursion resulted from human error.

“The aircraft in question had no single damage. It flew back to Lagos the same day,” Onyema said. “The pilot has flown for nearly 40 years—one of the most experienced in our fleet. He simply had a bad day. Unfortunately, the early report created confusion that made it seem as if the aircraft was faulty or the pilots were intoxicated.”

The Air Peace boss added that his company maintains a self-regulating culture even stricter than many foreign airlines, often grounding entire fleets when a potential anomaly is detected.

“I once grounded eight aircraft in one day after discovering that a maintenance planner made a mistake on one of our ERJ planes,” he recalled. “We could have hidden it, but we reported it ourselves to the NCAA. That is how seriously we take safety.”

Onyema warned that misleading narratives and sensational reports could harm Nigeria’s image before international aviation regulators and make local carriers targets of undue scrutiny abroad.

“What we say here is being monitored globally,” he said. “We must be careful not to impugn the integrity of our aviation agencies or destroy public trust in Nigerian airlines. Air Peace is one of the safest airlines in the world, not just in Nigeria.”

The session, which occasionally grew emotional, later went into a closed-door meeting to review confidential safety documents.

Before adjourning, Senator Buhari assured Onyema that the Senate’s interest was to safeguard travelers and Nigeria’s aviation image, not to indict any operator.

“We are not here to destroy any business,” he said. “Our concern is the safety of Nigerian travelers and the reputation of our aviation industry. The Air Peace incident has shown the need for coordinated reporting and factual communication. Once the final report is ready, it will be presented before the full Senate.”

With this, the Senate appears set to recommend a more transparent and collaborative framework for accident investigations, one that promotes accountability while protecting confidence in indigenous airlines regarded as vital to Nigeria’s transport and economic development.

• Nwoko committee submits interim report

The Senate yesterday raised concern over crude oil losses estimated at more than $300 billion the nation allegedly incurred through decades of theft, collusion, and poor oversight in the Niger Delta region.

This was contained in the interim report of its Ad Hoc Committee on Crude Oil Theft, chaired by Senator Ned Nwoko (APC, Delta North).

The report, titled: “Interim Report of the Ad Hoc Committee on the Incessant and Nefarious Acts of Crude Oil Theft in the Niger Delta and the Actors,” exposed alleged systemic failures and called for sweeping reforms across the oil and gas sector.

Nwoko said the committee discovered “systemic irregularities, poor measurement standards, and weak enforcement” across the petroleum value chain, factors that have made crude theft a multi-billion-dollar racket.

“Our assessment shows widespread lapses in monitoring, metering, and regulation.

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“We have, therefore, recommended strict enforcement of international crude measurement standards at all production sites and export terminals,” he said.

His committee’s 40-page interim report, which outlines urgent recommendations, also urged the Federal Government to deploy modern surveillance technologies, including unmanned aerial vehicles (UAVs), to monitor pipelines and export routes.

Other key proposals in the report include:

“Establishment of a Maritime Trust Fund to strengthen maritime security and inter-agency intelligence sharing;

“Creation of special courts for the speedy prosecution of crude oil theft cases;

“Full implementation of the Host Communities Development Trust Fund under the Petroleum Industry Act (PIA); and

“Immediate handover of abandoned wells to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for effective management.”

In their contributions, the senators raised red flags over the recovery plan.

Senator Abdul Ningi (PDP, Bauchi Central) lauded the committee’s efforts but cautioned that the recovery of stolen funds falls outside the Senate’s constitutional purview.

“We can trace and document the losses, but recovery is for agencies like the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and other related offences Commission (ICPC). The committee should provide detailed figures, company names, and locations,” he said.

Ningi alluded to a consultant’s data that pointed to $81 billion in lost revenue between 2016 and 2017, and another $200 billion unaccounted for from 2015 to date.

The Chairman of the Appropriations Committee, Senator Solomon Adeola, agreed, stating: “The Senate’s duty is to expose wrongdoing, not recover funds.”

Senator Ibrahim Dankwambo (PDP, Gombe North) suggested that the final report should identify all “actors” involved in the theft network.

“The title includes ‘the actors,’ and we must name them: the companies, the individuals, and illegal refinery operators. We need well-by-well and rig-by-rig data,” he said.

Senator Enyinnaya Abaribe (APGA, Abia South) urged caution, reminding his colleagues that the report remained an interim submission pending the final verification.

Senate President Godswill Akpabio applauded the committee’s “courageous and painstaking work” but agreed that recovery actions belong to executive agencies.

“Our job is to track and trace. Recovery is the responsibility of the appropriate authorities.

“However, the estimated $300 billion loss is staggering, and the Senate will insist on full accountability,” Akpabio said.

The Senate President directed the Nwoko committee to continue its work and return with a comprehensive final report detailing named actors, specific loss figures, and actionable steps.