Tag: Senate

  • Senate proposes 10-year passport ban on Nigerians convicted abroad

    Senate proposes 10-year passport ban on Nigerians convicted abroad

    The Senate on Tuesday moved to impose a 10-year passport ban on Nigerians who have been convicted and deported from foreign countries over criminal activities.

    This move followed the second reading of a Bill titled: “A Bill to amend the Passport (Miscellaneous Provisions) Act, Cap. P343 Laws of the Federation of Nigeria, 2004” sponsored by Senator Bello Sani Abubakar (APC – Niger North).

    Presenting the lead debate of the Bill on behalf of the sponsor, Senator Mohammed Ogoshi Onawo, said the Bill is intended to highlight the need for more provisions in the extant legislation to preserve, sanctify, and redeem the image of the Federal Republic of Nigeria globally.

    He said that the Bill seeks to provide for measures towards preserving the image of Nigerians while abroad and the Federal Republic of Nigeria globally.

    “The implication of the proposed amendment is that where a Nigerian commits any of the foregoing offences in a foreign country and is convicted for the crime, the international passport of the convict would be withdrawn for ten years. This measure serves as a veritable deterrent to the commission of crime in a foreign country.

    “This proposed amendment will redeem, preserve, and elevate the image and integrity of our dear country. It is also an opportunity for us to demonstrate our commitment to good governance and stance against crimes and criminality.”

    READ ALSO: Dangote vs PENGASSAN: Critical lessons for Nigeria’s economic future by Emir Sanusi, Kukah, Atedo, others

    In his lead debate, Senator Ogoshi said that the proposed amendment to the extant Act has become imperative and compelling as a veritable action to effectively redeem the severely tarnished image of our dear country in the eyes of the international community and to enact a strong disincentive for the commission of crimes by Nigerians across international jurisdictions.

    He said, “The commission of crimes by Nigerians in foreign jurisdictions has dealt a crushing blow to the reputation and image of Nigeria, and is costing us stupendous disgrace in the diplomatic community and in international transits.

    “It projects Nigerians as persona non grata to whom foreign visas are restricted or denied, with a negative effect on our national interest.

    “Countries like China, Turkey, Canada, France, Egypt, Germany, Ethiopia, South Africa, Russia, the United Arab Emirates, among others, which are destinations of interest to our citizens, apply stringent visa rules to Nigerians.

    “A major reason for the visa restriction is the significant commission of crimes and conviction of Nigerians in those countries.

    “Though profiles of crimes by Nigerians in foreign countries are protected for human rights reasons, as Chairman of the Senate Committee on Foreign Affairs, and being privy to the issues in the diplomatic community, the detriment of such crimes to our foreign affairs, the harm to our bilateral and multilateral interests, and the dent to our image and integrity, I am convinced, that it is incumbent upon us as a country to act and demonstrate responsibility to ending the indulgence of our citizens in crimes anywhere in the world.

    “As a consequence of the injury to the integrity of our country from crimes by our citizens in foreign jurisdictions, innocent and patriotic Nigerians suffer harassment in international transits, denial and hardship in visa applications, discrimination and negative stereotype in social dealings, costs and distress.

    “The green passport is widely discountenanced and the sovereign pride it intrinsically bears has severely diminished. That is nothing less than a state of emergency!

    “The Legislature is mandated, under Section 4 of the Constitution, with lawmaking for the peace, order, and good governance of Nigeria.

    “The extant law on Passport (Miscellaneous Provisions) Act is good, but good is the enemy of better.

    “It would do better if amended with provisions that impose an extra layer of deterrents to the commission of crime by our citizens in foreign countries.

    “It would demonstrate responsibility on our part to discourage the perpetration of crime by our citizens and to redeem the image of our country.”

    Senators in their contribution supported the Bill and approved that the Bill be read for a second time when it was put to a voice vote by Senate President Godswill Akpabio.

    Supporting the bill, Senator Babangida Hussaini (Jigawa Northwest) called for tighter control over passport issuance to prevent non-Nigerians from fraudulently obtaining Nigerian passports.

    He said, “Nigerians of all shades and colours are being disrespected in foreign lands because of the ease of acquiring Nigerian passports.

    “In some cases, crimes committed by foreigners are attributed to Nigerians simply because they carry our passports.

    “We must reclaim the dignity of the green passport. When non-Nigerians use it to commit crimes, and Nigerians are profiled for it, that is an injustice to our people.”

    Senate President Godswill Akpabio also threw his weight behind the bill, describing it as “a bold step to preserve the dignity and integrity of Nigerians.”

    He recalled a case in Dubai where a group of black men committed robbery using Nigerian passports, but were later discovered not to be Nigerians.

    “This bill will help tighten the process of passport issuance and ensure that those who mess up the country’s image abroad face the consequences.

    “Any Nigerian who tarnishes our image should not only face imprisonment abroad but also lose their passport for at least 10 years,” Akpabio said.

    The bill, which enjoyed unanimous support on the floor, was referred to the Senate Committee on Interior for further legislative work and a public hearing.

    If passed, the law will make Nigeria one of the few African countries with domestic legislation sanctioning citizens convicted of crimes in foreign jurisdictions, as part of efforts to restore global respect for the Nigerian passport.

    Akpabio added, “I applauded this bill when I first read it, because it speaks to preserving the integrity and international reputation of our nation.

    “So as this bill, when it goes through public hearing and all, and comes back to us, and we send it to Mr. President for assent, and the concurrence of our colleague in the House of Representatives who helped to cope such incidents, who tightened the ways and manner in which Nigerian passports circulate in the hands of foreigners, and also where a Nigerian goes to mess up the image of the country, such a Nigerian should not just go to prison and be deported to Nigeria.

    “Such a person should actually lose an international passport for at least 10 years, or 10 to 20 years, to serve as a deterrent.”

  • JUST IN: Tinubu will not delegitimise opposition, Senate tells UN

    JUST IN: Tinubu will not delegitimise opposition, Senate tells UN

    Senator representing Ondo South Senatorial District, Dr. Jimoh Ibrahim, has assured the United Nations that President Bola Ahmed Tinubu will not delegitimise or suppress opposition in Nigeria.

    Read Also: Insecurity: Senate to tackle U.S. over ‘Christian Genocide’ label on Nigeria

    Ibrahim gave the assurance on Tuesday while delivering his address at the ongoing Global Parliamentary Conference on Counter-Terrorism and the Prevention of Violent Extremism in Istanbul, Turkey.

    Details shortly…

  • Senate to convene national conference on insecurity

    Senate to convene national conference on insecurity

    Senate’s Deputy Majority Leader, Oyelola  Ashiru says  the National Assembly will soon convene a national conference on insecurity in Nigeria.

    Senator Ashiru, who is a member on both Committees on Defence and Intelligence told reporters in his country home of Offa, Kwara State ahead of security a meeting with stakeholders from Kwara South Senatorial District.

    The deputy majority leader represents Kwara South in the upper legislative chamber.

    He added that the current National Assembly had tackled insecurity issues in the country head-on.

    He said: “I can assert with all sincerity that this Senate has tackled insecurity seriously. There is going to be a national conference on insecurity. I can tell you that a lot had been done underground by the NASS on this issue. The peculiar one we are talking about now is that of Kwara South. Every insecurity has its own peculiarity.”

    He advocated the establishment and deployment of more robust forward operating bases (FoBs) in Kwara South to stem the tide of rising banditry and kidnappings in the district.

    READ ALSO: Top 10 African countries with largest military air fleets in 2025

    “In seeking lasting peace, we must be deliberate in strengthening both kinetic and non-kinetic approaches. In addition, the government must enhance kinetic operations in the affected areas by improving equipment, mobility, and manpower for our security agencies.

    “We must also explore community-driven solutions. The revival and proper training of forest guards will provide the much-needed surveillance of our bushes and farmlands, which have become hideouts for criminal elements.

    “Equally, we must strengthen communal engagement, ensuring that traditional rulers, youth groups, and local vigilantes work hand in hand with security operatives to provide intelligence and maintain vigilance.

    “Another critical area is the proper documentation of land ownership and tenancy. Many disputes and vulnerabilities arise from unclear or undocumented land rights. A statutory system of documentation will not only reduce land-related conflicts but also help authorities track illegal settlers who sometimes exploit the lack of records to perpetrate crime.

    “Furthermore, as we talk about security, we must also talk about prosperity. Our indigenous people must be encouraged and supported.

    “Let us be clear, security is not the work of government alone. It is a shared responsibility. When our communities unite with security operatives – providing intelligence, showing vigilance, and rejecting division – no criminal force can overpower us.”

    Another stakeholder from Kwara South Prince Sunday Fagbemi aligned with the Senator in the area of establishment of FoBs as well as equipping security operatives with sophisticated weapons.

    Prince Fagbemi, who doubles as the state Chairman of the ruling All Progressives Congress (APC) added that “Kwara North and South should be genuinely concerned about the spate of banditry and kidnappings in their districts.

  • 2027: Sule contemplates Senate bid amidst pressure from constituents

    2027: Sule contemplates Senate bid amidst pressure from constituents

    In less than two years, some governors in their second term will end their tenure, and bid farewell to the seat of power of their various states. In Nasarawa State, the people of Nasarawa North Senatorial District say Governor Sule is not tired, as they still want him to remain relevant in the political limelight, and should represent them at the Senate in 2027. In this piece, our Nasarawa State Correspondent LINUS OOTA, traces the idea behind the clamour for such agitation.

    As Nigeria gradually approaches the defining year of 2027, political permutations are already gathering momentum across the country. In Nasarawa State, the most talked about is the heavy pressure by traditional leaders, stakeholders across party lines , past and present political appointees and elected office holders, religious leaders, youths and women groups, from Nasarawa North Senatorial District are giving Governor Abdullahi Sule sleepless nights that he must  represent them at the Senate.

     Some political analysts have been pointing out what President Bola Ahmed Tinubu stands to gain in 2027 if Governor Sule is elected into the Senate.

     Sule has been vocal and consistent in defending the Tax Reforms and Subsidy Removal policies of President Tinubu, whom some Nigerians describe as harsh economic policies on Nigerians, but Governor Sule has consistently maintained that the actions of President Tinubu has helped the country in no small measures in revamping the economy.

     The governor had in January 2024 after the Supreme Court Judgement declaring him legitimate winner of the 2023 Governorship election in the state, proclaimed that he was  done with political contest in his life as he was only interested in becoming Governor of Nasarawa State and not any other political office, not even the president of Nigeria.

     He disclosed this in January 2024 while speaking on his victory at the Supreme Court during an interview on Channels Television’s Politics Today, said, “I came in only to be a governor; I did not come in to be a Chairman, a senator or a member of the House of Representatives. I don’t have any dreams for those offices.

     “I have no dream of becoming even President; I have no dreams for that. I can tell you categorically that Abdullahi Sule would not go for Senate after leaving office. By the time I finish my eight years, I can do whatever I want to do,” Sule had said in January 2024.

     The video of the Channels interview went viral on social media especially amongst residents of the State, a development that got the people of Nasarawa North Senatorial District worried apparently.

     Barely a year and half of such declaration by the governor, stakeholders both within and outside the Senatorial zone are mounting pressure on Governor Abdullahi Sule to recent that declaration, insisting that he must run for the Senatorial seat, describing that decision as great disservice to humanity, to God that he worship, and above all the good people of Nasarawa North Senatorial District.

     However, by 2027, there is going to be a vacuum in the Senatorial slots for Nasarawa North following the ill health of the current occupant of the seat, Senator Godiya Akwashiki. Senator Akwashiki adjudged to be the most performing Senator the zone ever produced in history had stood by his people in both difficult times and in attracting real democratic dividends.

     Akwashiki was elected into the Senate in 2019 on the platform of the APC after serving as Majority leader of Nasarawa State House of Assembly between 2011-2015 and Deputy Speaker of the Assembly between 2015-2019. He was re-elected  into the Senate in 2023 on the platform of the SDP before he got ill rendering him ineffective.

     Due to ill health, his effectiveness at the Senate is no longer been felt by his people at home, and the entire people of the zone ranging from religious leaders, traditional rulers, party chieftains, former and serving political office holders across party lines, youths and women groups are therefore craving for someone that will continue from where Senator Akwashiki stopped.

     And because of the strategic importance of President Tinubu’s economic policies and the deep understanding of such policies by Governor Abdullahi Sule, many people believe that having him at the Senate to dissect the nitty gritty of such economic policies on the floor of the next Senate in 2027 will not only help the president maintain the momentum of his Renewed Hope Agenda for Nigerians but will put the Senatorial zone on the world map.

    Read Also: Senate pushes municipal bonds, Sukuk for local govt

     A prominent religious leader, a Christian to be precise, who was part of a recent delegation to the Governor told our correspondent authoritatively that they recently stormed the government house to register their worry concerning the Governor’s stance on the 2027 political contest.

     He said they were there to persuade him to seek an elective post as a mark of their appreciation for the qualitative leadership he has so far given the state and the party, adding that the party’s spirit would be dampened if the Governor refused to go for the Senatorial seat.

     “We are all worried by what we saw on social media concerning what you said about your ambition in 2027. It won’t be fair on our part to you if after all that you have achieved for the state, you do not move ahead to the Senate. We the entire stakeholders of the zone are here by insisting that you must contest the Nasarawa North Senatorial seat.”

     He said that the call on the governor to seek another election after his eight years term is a unanimous stand of the zone and of course the majority of the constituents of Nasarawa North Senatorial District.

     The stakeholders further disclose that going by the early political alignments in the country, they are convinced that Governor Abdullahi Sule’s membership of the Senate in 2027 will drive President Bola Ahmed Tinubu’s Renewed Hope Agenda in the Senate and he will effectively defend his economic policies.

     As the time approaches , all odds favours Governor Sule for Nasarawa North Senatorial Seat as one does not require any guess work, he stands tall , not just for his loyalty to President Bola Ahmed Tinubu but also for his strategic relevance and unbroken connections.

     He never stood aloof or in outright opposition to President Bola Tinubu’s policies. His commitment to the party, the president, and the idea of national integration makes him not just a participant in the Renewed Hope Project but a pillar of its future success when Bola Ahmed Tinubu is re-elected back as President of Nigeria.

     The tax reform bill championed by President Bola Ahmed Tinubu, and opposed by some northern leaders is a major factor for Governor Abdullahi Sule who is versed in economic matters, will use to influence the next national assembly members to support the Bola Ahmed Tinubu to succeed during his second term in 2027.

     As a second term Governor, Engr Abdullahi Sule is vocal in explaining the significant benefit of the task reform bill now an act to northern Nigeria. He revealed recently that the reforms, particularly the revised Value Added Tax (VAT) distribution formula, would ensure greater equity and fiscal balance across the country.

     “These reforms are a game-changer for northern Nigeria. Under the new VAT sharing formula, 50% will be allocated for equity, 30%, based on derivation, and 20% tied to consumption. This adjustment reflects a fairer system that addresses long standing dispute” Sule said

     The Nigerian Governor’s Forum (NGF) which initially had some reservations of the tax, later announced its support for President Tinubu’s proposal after securing assurances from the President’s Tax Reform  Committee , chaired by Taiwo Oyedele.

     According to Governor Sule, the endorsement came after thorough deliberations and adjustments to the reform framework to accommodate regional and state specific concerns, adding that the discussions surrounding the tax reform bills are intended to uphold President Bola Ahmed Tinubu’s vision rather than criticize or oppose him.

     He explained further that governors like him “have everything to appreciate President Tinubu for making governance easier and more beneficial for them. It is because of the president that today, all the projects we are executing, I’m not borrowing one naira. All the work that you see going on. I did not borrow one naira.

     “I cannot therefore turn around and fight the president who has helped me to look good,” he said.

     Governor Sule has also been vocal about the gains of subsidy removal by President Bola Ahmed Tinubu, noting that it has increased the allocation of states triple times, therefore enhancing their performance without taking loan especially in Nasarawa State.

     He explained that the subsidy regime under the present administration of President Ahmed Bola Tinubu is different from the Petroleum Task Force (PTF) and SURE-P of previous administrations.

     He explained further that the money realised from the removal of subsidy is being ploughed back to the various tiers of governance for development across the states and local government areas.

     According to the governor, unlike in the previous dispensations where monies from subsidy removals were mostly utilised by the federal government, under President Tinubu the monies being realised are being channeled back to the states and local governments for much needed development.

     He expressed appreciation that as a result of the improvement of revenue coming to the states, his administration was able to settle part of the gratuity of members of the forums, a gesture that necessitated the solidarity visit. Some of the elected council officials left office in the 70s and were yet to receive their benefits until now.

     “We must thank President Bola Ahmed Tinubu.  I saw all kinds of criticisms  about this withdrawal of subsidy and the unification of the foreign exchange and where the money is going. These are the kinds of places the money is going to,” he stated.

     He recalled the precarious economic situation he inherited when he became Governor in 2019, with both the state and local government areas only able to pay salaries of workers in percentages.

     “The truth is that, don’t mistake me for criticising anybody. When we came in and met something, I was not trying to criticise anyone. I am just trying to present the facts as they are. We came in when the local government was having difficulty in even paying full salaries. That was the situation we found on the ground. It’s the same thing with pension. Pension both at the local government and the state were having challenges. 

     “When I said that, then you can imagine there is no way these people can have any savings. Because since they don’t have even enough to pay, where will they save? The entire allocation of the local government, sometimes it would be 1bn, their salary was already N1.1bn. Sometimes, it would be a little bit above N2bn, 2.4, 2.3. That was what we met. Today, the local government is boasting of N5bn. That is the situation just that the salary has also increased significantly to over N2bn,” he said.

     Governor Sule dismissed any attempt to compare the previous subsidy regime to the present regime under President Tinubu, stressing that evidence of the distribution and utilisation of the subsidy windfall is visible for all to see across the states and local government areas.

    “Other people said that during Abacha’s time, after withdrawal of subsidy, there was PTF. During Jonathan after withdrawal of subsidy, there was SURE-P. Somebody was challenging why don’t we have similar things now. Our own is different.  Because the money is going to people.

    During the Abacha regime when there was the withdrawal, we did not have dualization of Shendam Road.  We didn’t have dualization in Akwanga.  We never saw dualization in Keffi. We didn’t see any of those. Antau Bridge was collapsing at any given opportunity.  The market in Keffi was witnessing frequent fire outbreaks and consuming the houses of people, their wealth and everything gone. The same thing here in Lafia, Akwanga and elsewhere. 

    “But today, we are not seeing development only in our senatorial zones headquarters, we are seeing development also in every town and some of the rural areas. That is where the money is going. In addition to that, they still have savings. This money that the local government sat down and agreed to pay is from their savings,” he said.

    These and many more are some of the remarkable policies of the Tinubu administration that Engr Abdullahi Sule will defend with his last drop of blood when he gets to the Senate in 2027 and matters like the Tax Reform and fuel Subsidy Removal issues come up for deliberation.

    Recently in Akwanga LGA, the headquarters of Nasarawa North Senatorial district, the stakeholders of the APC gathered in their large numbers and urged Governor Abdullahi Sule who is completing his second term as Governor of the state in 2027 to seek election into the Senate to represent Nasarawa North Senatorial district.

    The endorsement came during the APC stakeholders meeting of Nasarawa North Senatorial district held in Akwanga local government area of the State.

    The commissioner of water resources Hon Muluku Agah Mohammed moved the motion to adopt President Bola Ahmed Tinubu and Governor Abdullahi Sule as their sole candidates to be elected as President and Senator in 2027, and the Commissioner of Youths and Sports development, Hon Kwanta Yakubu seconded the motion.

    Speaking at the Stakeholders meeting, the Executive Chairman, Nasarawa State Universal Basic Education Board, NSUBEB Dr Kassim Muh’d Kassim says the decision to send Governor Abdullahi Sule to represent Nasarawa North Senatorial district in the 11th Senate in 2027 is a collective decision of the entire stakeholders of the Nasarawa North Senatorial district.

    He declared their readiness to deliver President Bola Ahmed Tinubu and Governor Abdullahi Sule, stating that their leadership has brought economic reforms and inclusive governance deserving of continuity .

    “This is a collective decision by all of us to support President Tinubu for a second term, and our Governor, Engr Abdullahi Sule to go to the Senate in 2027, we will mobilize our people to deliver them in 2027”

    “We have  endorsed Governor Abdullahi Sule today  to proceed to the Senate due to his immeasurable achievements, his experience, exposure and network can lead to more efficient and effective legislative business as far as his personality is concerned.

    “Allowing a polished democrat like Governor Sule to represent us at the Senate will provide stability and continuity in governance. We are begging Governor Sule to be our leading light because he has governed us well, he is a  detribalised Nigerian, he is an easy going and indivisible fellow who enjoys interacting with people. Engr Abdullahi Sule is the only Governor in the history of Nigeria that picks strange calls and returns missed calls.

    “A leader that operates an open door policy and people’s friendly leadership styles,  and we can’t afford to lose such a man in the leadership of the northern zone” he said

    He describe the Governor as a honest man who is truthful and transparent in all his dealings with people”he is a man of integrity who adheres to moral and ethical principles and he is very compassionate by identifying and empathizing with struggles and needs of his people and above all, he is a man with confidence as his abilities and decisions often inspires trust and motivate others”

    Reading the communique after the meeting, Former Secretary to State Government, SSG Mr Timothy Anjide “The Stakeholders of the APC in Nasarawa North Senatorial district met in a critical session to deliberate on pressing issues concerning the party, the government, and the future of the district.

    “The meeting was attended by virtually all the key Stakeholders of the APC in the Senatorial district and after extensive and fruitful deliberations, the meeting resolved to acknowledge and appreciate President Tinubu for appointing son’s and daughters of Nasarawa North Senatorial district in to strategic positions in federal agencies, boards and parastatals.

    “In recognition of his vision, leadership and developmental focus, the stakeholders unanimously endorse Mr President for a second term in office.

    “The stakeholders deeply appreciate His Excellency for his unwavering commitment to inclusive governance, impactful developmental strides and consistent support for the APC family in the district.

    “A unanimous vote of confidence was pass on His Excellency, Engr Abdullahi Sule with strong call and appeal to His Excellency to represent Nasarawa North in the Senate come 2027” the communique read

    The meeting was convened  by the Executive Chairman of Akwanga and chairman of ALGON in the state, Hon Safiyanu Isa Andahar, supported by the Chairman of Nasarawa Eggon and Wamba LGAs, the three LGAs make up Nasarawa North Senatorial district.

    All party officials from council wards, LGAs,  State and Zonal officers from the zone attended the endorsement meeting.

    Other Prominent figures in attendance includes Senator John Danboyi, incumbent House of Representative member for Akwanga, Wamba, Nasarawa Eggon federal Constituency Hon Jeremiah Umaru, current members of Nasarawa State House of Assembly from the Zone, all Council Chairmen from the zone, serving commissioners, special advisers,  SSAs, SAs and PAs from the zone, head of government agencies from the zone and all former elected and political appointees from the zone.

  • Senate pushes municipal bonds, Sukuk for local govt

    Senate pushes municipal bonds, Sukuk for local govt

    The Senate Committee on Capital Market and Institutions has said that municipal bonds and Sukuk offer Nigeria a sustainable pathway to funding critical infrastructure at the local government level.

    Chairman of the Committee, Senator Osita Izunaso, made this known ahead of a national stakeholders’ summit on municipal bonds and Sukuk scheduled to take place in Uyo, Akwa Ibom State.

    The summit is themed “$1 Trillion Nigerian Economy: Infrastructure Financing through the Capital Market” and is expected to bring together key players from government, regulators, investors, and the private sector.

    According to Izunaso, municipal bonds and Sukuk present market-based alternatives to traditional funding methods and have already been successfully deployed in several countries.

    He explained that adopting these instruments in Nigeria would expand the financing options available to local governments for projects such as roads, healthcare, housing, water supply, education, and transport.

    “These instruments offer sustainable, market-based alternatives to traditional funding and have been successfully deployed globally,” Izunaso said.

    He further stated that empowering local governments to access the capital market would help reduce over-dependence on federal allocations, strengthen fiscal independence, create employment opportunities, and fast-track Nigeria’s progress towards achieving a $1 trillion economy.

    Also commenting on the initiative, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, said Nigeria’s widening infrastructure deficit requires innovative financing mechanisms that the capital market can provide.

    “Infrastructural gap in Nigeria can be met effectively through capital market funding, adding that the summit is one of the ways to create awareness for stakeholders on some of the benefits of municipal bonds and Sukuk among others,” Agama stated.

    Read Also: Senate set for bill on  free education for PWDs, Jimoh Ibrahim tells Commonwealth Parliament

    He explained that bonds are essentially long-term debt instruments designed to channel resources towards government and corporate infrastructure or development projects, while also providing investors with stable returns.

    “The Nigerian bond market has become more popular as it is being embraced by governments and corporate institutions to raise funds for crucial projects and business expansion,” the SEC boss said. “In view of the paucity of revenue to finance necessary developmental infrastructure and services in the country in recent times, the government at all levels need to take advantage of the opportunity available in the capital market through the issuance of bonds to access funds for developmental purposes.”

    The summit’s primary goal, according to organisers, is to explore how Nigeria can establish a robust municipal bond and Sukuk market that will enable local governments to directly mobilise long-term funds for infrastructure projects.

  • Senate committee pushes municipal bonds, Sukuk for LG infrastructure

    Senate committee pushes municipal bonds, Sukuk for LG infrastructure

    The Senate Committee on Capital Market and Institutions has said that municipal bonds and Sukuk offer Nigeria a sustainable pathway to funding critical infrastructure at the local government level.

    Chairman of the committee, Senator Osita Izunaso, made this known ahead of a national stakeholders’ summit on municipal bonds and Sukuk scheduled to take place in Uyo, Akwa Ibom State. 

    The summit is themed “$1 Trillion Nigerian Economy: Infrastructure Financing through the Capital Market” and is expected to bring together key players from government, regulators, investors, and the private sector.

    According to Izunaso, municipal bonds and Sukuk present market-based alternatives to traditional funding methods and have already been successfully deployed in several countries. 

    He explained that adopting these instruments in Nigeria would expand the financing options available to local governments for projects such as roads, healthcare, housing, water supply, education, and transport.

    “These instruments offer sustainable, market-based alternatives to traditional funding and have been successfully deployed globally,” Izunaso said.

    He further stated that empowering local governments to access the capital market would help reduce over-dependence on federal allocations, strengthen fiscal independence, create employment opportunities, and fast-track Nigeria’s progress towards achieving a $1 trillion economy.

    Also commenting on the initiative, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, said Nigeria’s widening infrastructure deficit requires innovative financing mechanisms that the capital market can provide.

    Read Also: Nigerian govt urged to prioritise kidney disease prevention, treatment

    “Infrastructural gap in Nigeria can be met effectively through capital market funding, adding that the summit is one of the ways to create awareness for stakeholders on some of the benefits of municipal bonds and Sukuk among others,” Agama stated.

    He explained that bonds are essentially long-term debt instruments designed to channel resources towards government and corporate infrastructure or development projects, while also providing investors with stable returns.

    “The Nigerian bond market has become more popular as it is being embraced by governments and corporate institutions to raise funds for crucial projects and business expansion,” the SEC boss said. 

    “In view of the paucity of revenue to finance necessary developmental infrastructure and services in the country in recent times, the government at all levels need to take advantage of the opportunity available in the capital market through the issuance of bonds to access funds for developmental purposes.”

    The summit’s primary goal, according to organisers, is to explore how Nigeria can establish a robust municipal bond and Sukuk market that will enable local governments to directly mobilise long-term funds for infrastructure projects.

  • Senate probes KWAM I, Emmanson incidents

    Senate probes KWAM I, Emmanson incidents

    The Senate on Tuesday vowed to investigate recent airline-passenger incidents in the nation’s aviation sector.

    The Chairman, Senate Committee on Aviation, Senator Buhari Abdulfatai disclosed this in a statement in Abuja.

    Abdulfatai expressed serious concern over recent high-profile airline–passenger incidents that have raised questions about operational standards, passenger rights, and the overall discipline within Nigeria’s aviation sector.

    There have been incidents involving Fuji musician Wasiu Ayinde, popularly known as KWAM 1 and Value Jet Airline as well as Comfort Emmanson and Ibom Airline.

    Read Also: Nigeria’s non-oil exports hit $3.23bn in six months as NPA pledges sustained port efficiency

    Speaking on the incidents, Senator Abdulfatai emphasised that these developments demand immediate and coordinated action to protect the integrity of the sector and restore public confidence.

    “In the exercise of its constitutional powers, the Committee will be engaging key regulatory bodies, operators, security agencies, and public interest groups to establish the facts, review existing procedures, and ensure that any necessary corrective measures are swiftly implemented.

    “We will not allow procedural gaps or lapses in enforcement to undermine safety, professionalism, or public trust in our aviation system.

    “The Senate Committee on Aviation will ensure accountability at all levels,” Senator Abdulfatai said.

    The Committee assured Nigerians that it is maintaining active oversight and will drive the process toward enforceable solutions that prevent a recurrence of such incidents.

  • Respond to AG’s queries on N210tr cash, Senate tells NNPCL

    Respond to AG’s queries on N210tr cash, Senate tells NNPCL

    • ‘We didn’t say money missing or stolen’

    The Bayo Ojulari-led Nigerian National Petroleum Company Limited (NNPCL) has 21 days to explain what happened to N210 trillion cash that has not been accounted for.

    Ojulari, Group Chief Executive Officer (GCEO) of the NNPCL, got the three-week ultimatum yesterday when he appeared before the Senate Committee on Public Accounts.

    The NNPCL boss had failed four times to heed the summons of the panel. But he appeared yesterday with an apology which the committee accepted.

    Committee Chairman Senator Ahmed Wadada (Nasarawa West), who insisted that the government-run oil company must explain the queries on the funds’ whereabouts, said the N210 trillion was neither stolen, nor missing.

    After his apologies, the NNPC boss explained that he needed more time to study the issues raised in the 19 queries so as to give satisfactorily respond to them.

    Ojulari said: “I’m just over 100 days in office as the GCEO of NNPCL. I still need time to do further digging, given the perspectives I have heard now into the issues, this is coming in the midst of a huge national assignment, your explanation now changes my perspective about the issues.

    “I need to understand the issues myself so I can respond appropriately. I will get a team and get the details properly reconciled so we can work to provide answers to the queries.

    “In doing this, I will surely engage the external auditors and other relevant groups.”

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    Though he requested for four weeks, but the committee granted him three weeks which according to him, is enough for the response expected from NNPCL.

    Explaining the content of the queries to the NNPCL GCEO, Wadada said the N210 trillion unaccounted fund are broadly in two components of N103 trillion liabilities and N107 trillion assets, which according to him, must be accounted for.

    He said: “They are questions  extracted from the audited financial statements of the NNPCL by the Auditor General covering 2017 to 2023.

    “Also this committee had not at any time said the N210trillion was stolen or missing. What the committee is doing is to investigate queries raised in the report in line with its constitutional mandate.

    “Therefore , the committee is giving NNPCL , three weeks to forward written responses to it on all the 19 queries after which the GCEO will be invited along with other management staff for physical appearance and defence.”

    Other members of the committee spoke on the seriousness of the issues at stake. They expressed optimism that the GCEO will clear the air on them.

    Anambra Central Senator Victor Umeh said: “One thing that must be stated clearly is that we need transparency, and NNPCL is in possession of Nigeria’s economic prosperity.”

    Senator Babangida Hussaini, (Jigawa North West), said there is need for NNPCL’s management team to look into the issues raised since governance is a continuum, saying “the issues are germane and critical.”

    Senator Tony Nwoye (Anambra North), said: “It is very important and germane to give them (NNPCL), fair hearing. Maybe, the audited report is not correct.”

  • Senate gets fresh demands for more states in Northwest

    Senate gets fresh demands for more states in Northwest

    Indigenes of the Northwest have renewed calls for the creation of new states in the region.

    They cited improved development, equity, and security as the key motivations for their demand.

    The indigenes presented their demand at the Northwest zonal public hearing of the Senate Committee on the Review of the 1999 Constitution (as amended) on Saturday and yesterday in Kano.

    The committee received proposals for the creation of Bayajidda and Karaduwa states from Katsina State; Kainji from parts of Kebbi and Niger; Tiga and Ghari from Kano State; Gurara and New Kaduna from Kaduna State; and Hadeja from Jigawa State.

    The Chairman of the Kainji State Movement, Ahmed Musa Ibeto, told the committee that the proposed state would consist of Zuru Emirate in Kebbi, and Kontagora and Borgu Emirates in Niger.

    He said the emirates had long-standing administrative and historical ties dating back to the colonial era of 1902.

    “When created, Kainji State will have an estimated population of 2.2 million people and cover a landmass of 36,800 square kilometres, ranking it among the 10 largest states in the country,” Ibeto said.

    He added that the creation of the state would address security concerns and promote justice, equity, and fairness for the people of the region.

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    Also, a representative of the Gurara State agitation group, Mr. Mark Jacob, said their submission complied with the provisions of Section 8 of the Constitution, with all the necessary signatures from the relevant stakeholders.

    He described the proposal as a “unanimous demand” from the Northern and Southern zones of Kaduna State, including the endorsement from Governor Uba Sani and members of the State House of Assembly.

    Jacob added: “Gurara has significant human and natural resources, including ginger, columbite, and other solid minerals, which could reduce the region’s reliance on federal allocations, if developed.”

    The spokesman noted that the proposed state would foster peace, economic growth, and closer governance for the people.

    Similarly, proponents of Karaduwa State said the proposed entity would comprise 11 local government areas, with potential for further expansion.

    They argued that the new state would harness its landmass for agricultural development while enhancing political inclusion and improving living standards.

    They also said the creation of the proposed state would bring governance closer to the grassroots and promote security and economic development.

    The hearing was chaired by Deputy Senate President Barau Jibrin, who leads the constitutional review committee.

  • Senate adjourns plenary till September 23

    Senate adjourns plenary till September 23

    The Senate yesterday adjourned plenary till Tuesday, September 23.

    The resolution followed its adoption of a motion by Senate Leader Opeyemi Bamidele.

    Senate President, Godswill Akpabio, said senators will the break to conduct oversight.

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    He said upon resumption, each committee would submit a report on its oversight activities to the Red Chamber.

    Akpabio said APC senators would attend the National Executive Committee meeting of the party at the Villa at 2 pm.