Tag: Senate

The Senate on Tuesday urged the federal governmemt to fund the establishment of modern ranches across the country to enhance safety and economic productivity for both herders and local residents.

The red chamber also resolved to pass a Bill that would define the limits of economic activities under the Economic Community of West African States (ECOWAS) treaty on free movement across borders.

The resolutions of the Senate followed its adoption and consideration of a motion titled: “Urgent need to address incessant banditory attacks/killings and displacement of innocent Nigerians in some villages at Billiri Local Government Area of Gombe State.”

The motion was moved by Senator Anthony Siyako Yaro (Gombe South).

Senator Yaro in his lead debate called for urgent action to address recurring bandits’ attacks in Billiri Local Government Area of Gombe State, following the killing of several residents and widespread destruction of property by suspected herders on December 11, 2024.

He decried the attacks on villages including Sansani, Kalindi, Powishi, and Lawushi Daji, where armed assailants allegedly killed residents, burned houses, and destroyed food supplies and livestock, leaving scores of people displaced.

Senator Yaro cited Sections 33 and 41 of the 1999 Constitution, which guarantee the rights to life and freedom of movement for all Nigerians, emphasising that the government has a primary obligation to protect its citizens’ lives and property.

According to him, the attacks have not only destabilized the affected communities but also threatened the peace of neighbouring states such as Taraba, Bauchi, and Adamawa.

Additionally, he said that the violence has disrupted food sufficiency and major economic activities in the region.

Read Also: Senate pledges support for welfare of Nigerian Armed Forces

After approving the prayers of the motion, the Senate observed a minute’s silence in honor of the deceased victims.

It also urged the Inspector General of Police, the Chief of Army Staff, and the Director General of the Department of State Services (DSS) to investigate the attacks, arrest the perpetrators, and prosecute them.

It also called for the urgent establishment of a joint police and military taskforce in Billiri Local Government Area to prevent further killings.

It further requested the Ministry of Humanitarian Affairs, the National Emergency Management Agency (NEMA), and the North East Development Commission to provide relief materials to the displaced victims and mandated the Senate Committees on Legislative Compliance, Police Affairs, and National Security and Intelligence to ensure compliance with its  resolutions and to develop lasting solutions to the insecurity in the area.

Senator Seriake Dickson in is contribution to the debate,  advocated for the establishment of modern ranches funded by the federal government across the country.

He argued that such facilities would enhance safety and economic productivity for both herders and local residents.

The Senator urged a comprehensive approach, involving key government agencies, to develop a proposal for implementing the ranch initiative across the country.

Highlighting the economic plight of herdsmen who trek long distances from Sokoto to Lagos or Bayelsa, he described ranching as a legitimate business opportunity that could address their challenges and boost local economies.

Dickson emphasised the importance of tackling the root causes of the herdsmen crisis, citing the recurring nature of conflicts and the need for a sustainable solution.

He stressed that the initiative could transform livestock management in Nigeria, promoting peace and fostering economic development nationwide.

Senator Adams Oshiomhole in his contribution, reminded his colleagues of the Senate’s prior agreement to hold a national public hearing to explore legislative solutions for addressing security challenges tied to economic activities and movement.

He emphasised the importance of enacting a law that clearly defines the boundaries of individual rights, ensuring that one person’s rights do not infringe on those of others.

The former Governor of Edo State expressed concern about criminal activities perpetrated by individuals entering Nigeria under the ECOWAS framework, stressing the need for stricter regulations to curb such incidents.

The Senator called for swift action to create laws that would regulate movement and economic activities, safeguarding the rights and safety of Nigerians.

…passes Nigeria Insurance Reform Bill

The Senate has proposed a significant increase in the capital requirements for insurance and reinsurance firms in Nigeria.

The lawmakers on Tuesday, December 17, recommended raising the paid-up share capital for reinsurance companies to N35 billion, up from the previous N10 billion. 

The Senate also proposed increasing the minimum capital for life assurance businesses from N2 billion to N10 billion and non-life insurance firms from N3 billion to N15 billion. 

These new capital base requirements were part of the 2024 Nigerian Insurance Industry Reform Bill, which was passed by the Senate during plenary on Tuesday. 

Senator Adetokunbo Abiru, Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, presented the report titled “The Nigerian Insurance Reform Bill 2024.” 

Explaining the rationale behind the proposed increases, Abiru noted that the adjustments were necessary due to factors such as currency depreciation, the Finance Act of 2022, inflation, international competitiveness, the African Continental Free Trade Agreement (AfCFTA), capital flight from over-reliance on foreign insurance, and emerging risks like cyber insurance and consumer credit insurance. 

Abiru also mentioned that the bill had previously been read the second time on July 18.

He said the bill sought to essentially consolidate various existing legislations regulating the conduct of insurance businesses in Nigeria.

He listed the legislation to include the Insurance Act 2003, the Marine Insurance Act, Motor Vehicles Third Party Insurance Act, the National Insurance Corporation Act, and the Nigerian Reinsurance Corporation Act.

According to him, another major objective of the bill was to enable Nigeria to have a better future for itself and the need for a robust legal and regulatory framework that would see the insurance sector contributing positively to the principal objective of financial assistance practices.

He said to make Nigeria, Africa’s financial hub and one of the 20 largest economies in the world, there was a need to evolve effective risk-based supervision in the regulatory system.

He said the existing rule-based supervision, enabled by the current laws in the insurance sector had become obsolete.

Read Also: Senate pledges support for welfare of Nigerian Armed Forces

Abiru said that during the public hearing, stakeholders made far-reaching presentations in support of the passage of the bill, adding that the general consensus among them was that laws regulating the industry were obsolete.

He said there was a need to upscale the industry’s potential to compete globally, adding that the current insurance legislations do not resonate with the current dynamics and evolving needs of the Nigerian insurance industry.

Abiru said: “All these legislations have surpassed a two-decade mark and they lack provisions that can adequately address contemporary challenges and support growth and innovation within the industry,” Abiru said.

According to him, legal obsolescence has led to some of the regulatory inefficiencies in the insurance industry.

“These have also hampered the industry’s ability to successfully compete on a global level,” he said.

He urged the Senate to pass the bill, noting that its passage would help provide a comprehensive legal framework for the regulation and supervision of all manner of insurance initiatives in Nigeria.

He said the passage would help the industry to compete globally.

In his contribution, Senator Jimoh Ibrahim (APC – Ondo South) noted that the provision of the Bill on minimum capital requirements for reinsurance business to the tune of N45 billion proposed in the Bill was not in order, given the current economic situation.

He urged the Senate to consider maintaining the status quo of N10 billion minimum capital requirements for reinsurance businesses in the interest of the industry.

“We only have one re-insurance company, and now increasing the capital, this is impossible, and as a matter of fact, 20% of that will be deposited in CBN forever. This increase will lead to their death,” he argued.

Ibrahim’s motion that the status quo for reinsurance business be retained was however not endorsed by the Senate during the clause-by clause consideration as no lawmaker seconded it.

Deputy President of the Senate, Senator Barau Jibrin (APC-Kano North), who presided over plenary after the third reading and passage of the bill, commended the committee for a job.

Barau said: “I commend the Chairman of the Committee on Banking, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru, and the members of the Committee for a job well done. When we have the concurrence by the House of Representatives and the assent of Mr. President, the law will help shape our economy for the better.

“Economies change at all times. It is, therefore, incumbent on the authorities of every nation to recraft their legislation to go in tandem with contemporary realities. And this is what has been done by the passage of this legislation.

“The intent is to restructure the insurance ecosystem to accommodate contemporary happenings within our economy.

“I commend the Chairman of the Committee and, indeed, membership of the committee. They are people of outstanding pedigree who are educated and knowledgeable about the insurance industry.

“So they put in their best, and I am sure the country will benefit from it when the law is eventually passed.”

The Senate on Thursday called on the Federal Capital Development Authority (FCDA) to stop ongoing property demolitions in the Federal Capital Territory (FCT). 

This decision comes as the Senate established an ad-hoc committee to investigate the demolitions in the FCT, with a two-week deadline for reporting its findings. 

The resolutions followed the consideration and adoption of a motion by Senator Ireti Kingibe (LP – FCT), which was seconded by Senator Natasha Akpabio-Uduaghan (PDP – Kogi Central). 

The ad-hoc committee, chaired by Deputy Senate President, Senator Barau Jibrin, includes members such as Deputy Senate Leader, Senator Yisa Ashiru, Chief Whip Senator Mohammed Tahir Monguno, Senator Yahaya Abdullahi, Senator Sahabi Ya’u, Senator Victor Umeh, Senator Jimoh Ibrahim, Senator Idiat Oluranti Adebule, and Senator Jarigbe Agom Jarigbe. 

According to the Senate President, the committee has two weeks to submit its report.

Akpabio while reading the resolution of the Senate, said: “The Senate urges the Federal Capital Development Authority (FCDA) to stop further demolitions of structures, except those ordered by courts of competent jurisdictions, until the Adhoc Committee constituted by the Senate to ascertain the propriety or otherwise of the exercise concludes its investigation and interface with the FCT administration within the next two weeks.”

Kingibe in her lead debate said that in recent times, the demolition exercise in the FCT was no longer based on reasons that necessitated the demolition.

She urged the Senate to be further concerned that the current demolition in the FCT was not in line with due process of court orders to demolish.

“As such, a cross-section of individuals had suffered untold hardships occasioned by massive demolition, which has led to a loss of properties worth billions of naira.

“Also concerned that at the moment, an estate by name of Messrs Paulosa, for which late Colonel Paul Osakpawan Ogbebor is the chairman, is currently under revocation and demolition. And from reliable information, the said plot of land was allocated to him in 1984 with the requisite title document.

“And further concerned that the owner of this estate was a patriotic Nigerian who served the nation meritoriously and one of the first intakes of the Nigerian Defence Academy, Kaduna, with registration Number 001,” Kingibe said.

She urged the Senate to accordingly resolve to urge the FCT administration to halt the ongoing revocation and demolition of the said property, “as it does not fall within the purview of the reasons for the massive demolition being carried by the FCDA.”

She also advocated that all demolitions should follow due process.

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She urged the Senate to set up a committee to investigate the matters arising from the demolition.

However, Senator Karimi Sunday (APC – Kogi West) in his contribution said the Senate needs to hear from the Minister of the FCT, Nyesom Wike, before ordering a halt to the demolitions.

“If you look at this motion, the presenter said, a specific land allocation was mentioned belonging to one Paul Ogbebor.

“We don’t know anything about this thing and we are just coming because of this to tell the minister to stop?

“There is a need to investigate this matter before giving any directive. We must hear from the minister. But we have to hear before we say stop the demolition.

“Let’s hear from the Minister. You cannot shave a man’s head at his back. We need to hear from the Minister,” Karimi said.

The Chairman Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Adeniyi Adegbonmire, however, disagreed with Karimi.

He said that the request that the Senate should call on the FCT minister to halt further demolitions was in order.

Adegbonmire said: “Mr. President, with respect I disagree with Mr. Karimi. I think we need to be fair to everyone. There is before us an allegation that says certain steps are to be taken which will culminate in demolition. Are we saying that we should allow the place to be demolished while we are trying to look into it?

“My own view is simple. We should tell him to stop and as Senator Natasha has said, start the investigation so that there is a level playing ground.

“Are we not going to investigate unless we find that the minister has done something wrong but he has then demolished? I don’t think that is fair. I think what is fair is to say stop the situation today and let us investigate,” Adegbonmire who chairs the senate committee of judiciary said.

In his response, the Senate President, Godswill Akpabio said: “Chairman Senate Committee on Judiciary and legal matters, my thought is in line with yours. If we just say, continue the demolition, and then we start an investigation, what are we then investigating?

“In fact, I think at the end of the day, the res would have been buried. It will no longer be our ‘wahala’. It will now be the problem of the courts because the owners will have to go to court to go and claim compensation for doing that.

“So, it’s not the same. I think what she’s saying, when we look into the prayers, will be that we should urge the minister to put a hold on the demolitions and then we set up a committee to investigate.

“I think that should be the best thing and then that committee will now invite the minister and the other people, they will come and explain.

“Because we want to be sure that they are following the proper procedure and that the demolitions are not personal. It’s important for us to satisfy ourselves that demolitions are in the best interest of Nigerians.”

Akpabio thereafter read the resolution of the Senate calling on the FCT minister to halt further demolitions of property in the FCT pending the investigative report of its Adhoc Committee chaired by the Deputy Senate President.

The Senate on Tuesday passed for second reading a bill that seeks at least 30% domestic processing of raw materials before they can be exported.

The propsosed legislation titled: “A Bill for an Act to amend the Raw Materials Development Council Act, 2022 to make provison for processing and local protection and related matters 2024” was sponsored by Senator Peter Nwebonyi, representing Ebonyi North.

Leading debate on the Bill, Nwebonyi argued that the  legislation aims to boost local manufacturing, enhance job creation, and reduce over-dependence on importation.

He streesed that the Bill stipulates that no raw material can be exported outside Nigeria without undergoing at least 30% processing domestically.

He said promoting local processing to a minimum of 30% or more will add value to the economy, particularly the Naira, and will also encourage innovation within  local industries.

He added that the initiative will lead to a significant increase in the nation’s local industries.\

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He further said the bill, if enacted into law, will regulate importation of raw materials readily available in Nigeria for local production.

“This bill, if enacted into law, will sheild Nigerian manufacturers from foreign competition by regulating the importation of raw materials that can be produced locally.

“This bill will create a more favourable environment for domestic companies to thrive, and will foster national pride and economic independence, like other developed countries of the world, such as  China, and the United States,” he said.

While several some lawmakers supported the Bill, others urged caution.

For instance, Senator representing Osun West,  Olalere Oyewumi, pointed out the potential challenges particularly in relation to the readiness of local industries to process certain commodities.

“Over the past 20 to 30 years, Nigeria has been producing oil but lacked local refineries, resulting in most of it being exported in its raw form.

“Now that local refineries are operational, they supply directly to local industries. If we assume that all the products should not be exported raw, what if we don’t have companies that are going to consume them locally,” he said.

He expressed concern over commodities such as cocoa, which are produced in large quantities without sufficient local processing capacity in the South West.

“Currently, less than 10% of cocoa produced is consumed locally because there are no industries to process it. If we impose a blanket ban on raw exports without ensuring sufficient local capacity, it could paralyze farmers who have invested heavily in production.

“This process must be gradual, allowing industries to catch up before implementing stringent measures,” Oyewumi warned.

After debate on the Bill, the Senate President, Godswill Akpabio, put the Bill to a voice vote and majority lawmakers voted that it should be read for a second time.

The Bill was referred to the Senate Committee on Agricultural Production and to report back in six weeks.

…threatens zero allocation for agencies who fail to honour summons

The Senate Committee on Finance on Monday expressed deep concerns over poor capital releases to Ministries, Departments and Agencies (MDAs) for executed projects for the 2024 fiscal year.

The panel also described the 2024 budget performance as poor due to poor capital releases to fund government projects.

The committee demanded comprehensive reports on how much revenue has been remitted to government coffers, with specific emphasis on the 1% stamp duty collections.

It also bemoaned discrepancies in Nigeria’s revenue generation and expenditure tracking while threatening zero allocation for MDAs who fail to honour summons

The panel made these observations know when the Accountant General of the Federation, Mrs Oluwatoyin Madein appeared before an investigative hearing organised by the committee.

The investigative hearing focused on the remittance of internally generated revenue, fiscal accountability, and the overall state of the country’s financial management system.

In a heated session at the National Assembly, the Accountant General of the Federation faced tough questions from lawmakers over delayed fund releases and significant budget increases.

The Chairman of the Senate Committee on Finance, Senator Sani Musa, in his opening remarks, emphasized the importance of addressing financial inconsistencies across government agencies, stating that these issues undermine transparency and accountability in governance.

He noted the inability to readily access accurate data on the funds available to the federation, a gap that impairs effective oversight and policymaking.

“We should be able to determine, at any point, the exact state of revenues collected, how they’ve been disposed off, and what has been allocated to various accounts. Unfortunately, that is not the case today,” Musa said.

According to the Committee, the key areas of concern include the discrepancies in reports from the Nigerian National Petroleum Corporation (NNPC) and the federation account, the dividends received from LNG operations, and other significant variances.

The Committee also underscored the need for clarity on loans, grants, and other financial inflows managed by the government.

The Accountant General of the Federation, Oluwatoyin Madein, in her response to some of the issues raised, presented a summary of internally generated revenue for the federal government up to September 2024.

The reported figures included: Independent revenue of ₦2.7 trillion, Operating surplus from Government-Owned Enterprises (GOEs) amounting to ₦2.3 trillion and Ministries, Departments, and Agencies’ (MDA) internally generated revenue (IGR) of ₦344 billion.

Besides, lawmakers expressed deep frustration over the persistent delays in the release and utilization of capital budgets, citing inefficiencies within the centralized payment system managed by the Office of the Accountant General of the Federation.

The Committee criticized the centralized payment policy, which requires over 700 Ministries, Departments, and Agencies (MDAs) to process payments through a single office.

Senators argued that this policy has led to inefficiencies, delayed project completions, and diminished public trust, especially in constituencies expecting the execution of critical infrastructure projects.

The key issues raised by the Senators include: Underutilization of Capital Budgets, Centralized Payment Challenges, Allegations of Corruption and Low Revenue from Stamp Duties.

The Accountant General reported an ₦8 billion capital allocation for 2024, yet only ₦2.9 billion (25%) had been released for project execution.

Lawmakers noted that the unutilized funds obstruct other agencies from accessing necessary resources, further exacerbating delays across the board.

The policy of centralizing all payments in the Accountant General’s office was heavily criticized for creating bureaucratic bottlenecks.

Lawmakers pointed out that this system often results in MDAs waiting months for payment after projects are executed, causing delays in government operations and public projects.

Concerns were also raised about contractors being required to pay under-the-table fees, reportedly 5% of the contract value, to expedite their payments.

This practice, if verified, according to them, represents a major accountability issue, undermining the efficiency of the system.

The Accountant General revealed that stamp duty revenues from 2020 to 2024 were disappointingly low, totaling ₦30.3 million compared to the ₦301.49 million internally generated revenue (IGR).

Lawmakers linked this to poor budget performance, as taxes are only collected when payments are made.

The Accountant General in his defence explained that the centralized payment system was introduced to curb inefficiencies and prevent unutilized funds from being rolled over annually.

According to her, MDAs are expected to execute projects, upload contractor details, and request payments directly from the system.

However, she said some MDAs failed to comply with this policy, leading to delays in payment.

She emphasized that the system was designed to ensure funds are only released for completed and verified projects, thus avoiding the previous practice of funds being warehoused by MDAs.

However, senators argued that the centralized system has stifled progress instead of enhancing efficiency.

They insisted delays in payments, even for completed projects, are unacceptable and reflect systemic inefficiencies.

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They said that MDAs should be given greater autonomy to manage their budgets while maintaining oversight to prevent misuse.

Senator Amos Yohanna from Adamawa North summarized the issue, stating, “Federal government revenue is suffering because budget performance is poor.

“Taxes remain low because payments are not made. We need a system that works.”

The Committee demanded answers to the core issue,

which is why are funds delayed even for uploaded, completed projects?

The Accountant General was asked to provide a detailed explanation of the bottlenecks and propose solutions.

Lawmakers also raised pressing financial issues, including inefficiencies in payment systems, budget escalations, and concerns about revenue accountability.

They demanded answers on why payments to Ministries, Departments, and Agencies (MDAs) are being delayed despite compliance with due processes.

The Accountant General attributed the delays to two key factors: incomplete documentation submitted by MDAs and occasional shortfalls in available funds.

“When MDAs meet all system requirements, funds should be released without delay,” one committee member said, urging the office to address these issues urgently as the country approaches the end of the fiscal year.

However, the Committee noted that the submitted report focused solely on the Accountant General’s office, with significant omissions regarding the Federal Government’s overall financial activities.

The committee also questioned a significant increase in the 2025 budget proposal for foreign service allowances, which has risen from ₦7billion in 2024 to ₦35 billion.

The Accountant General explained that the rise was driven by a 300% increase in financial attaches for foreign missions, exchange rate adjustments, and salary revisions.

However, lawmakers were not satisfied. “This increase appears excessive,” one senator remarked, requesting a detailed breakdown of the proposed allocation to ensure transparency and alignment with national priorities.

Another contentious issue was the lack of clarity on revenues generated from public-private partnerships, including those from international passports and resident permits.

“The only office that can give us accurate figures is yours,” the Chairman stated, emphasizing the importance of the Accountant General’s role in ensuring fiscal accountability.

The committee gave the Accountant General until Wednesday to provide all requested reports, ahead of a follow-up meeting scheduled for 2pm the same day.

In light of the gaps it identified, the Committee resolved to invite other relevant agencies, including the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the Nigerian Extractive Industries Transparency Initiative (NEITI), and the NNPCL, for a joint session to ensure a comprehensive review of the discrepancies.

“This is not about hearing from one side and another separately; we need all stakeholders present at the same time to provide clarity and consistency in their reports,” Musa said.

Members also indicated plans to summon other agencies, including the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Extractive Industries Transparency Initiative (NEITI), to address discrepancies in their submissions.

As the year winds down, lawmakers stressed the importance of expediting fund releases and resolving inefficiencies in financial systems to avoid budget rollovers.

“This committee has the constitutional right to oversight every agency,” the Chairman said, pledging to hold all stakeholders accountable for ensuring transparency and efficiency in managing public funds.

The Senate on Thursday condemned the privatization of Nigeria’s power sector as a ‘total failure’ and hinted at possible legislative actions to overturn the policy.

Lawmakers heavily criticised power sector operators, including Generation Companies (GenCos), the Transmission Company of Nigeria (TCN), and Distribution Companies (DisCos), accusing them of failing to provide reliable electricity and contributing little value to the sector.

The Senate argued that the 2013 privatization initiative has worsened the country’s power crisis, leaving Nigerians with no effective solutions and deepening the nation’s energy woes.

The resolutions of the Senate followed the presentation and consideration of a report by the Senate Committee on Power during plenary, which investigated frequent national grid collapses and related issues.

The Chairman of the Committee, Senator Enyinnaya Abaribe (APGA, Abia South), who presented the report, attributed the persistent grid collapses to factors such as aging infrastructure, abandoned projects worth trillions of naira, regulatory inefficiencies, security lapses, lack of modern monitoring systems like SCADA, and inadequate financial oversight.

Abaribe lamented that despite substantial investments in electricity infrastructure, the grid has suffered 105 collapses over the past decade.

He revealed the significant costs incurred during grid failures, particularly in restarting power plants.

According to the report, restarting a plant after a grid collapse (known as a ‘black start) is considerably more expensive than normal operations.

For instance, while running costs for a plant like Azura, Delta, or Shiroro are approximately $105,000, restarting costs can reach $7 million per incident.

Collectively, grid collapses cost Nigeria an estimated ₦42.5 billion for these three plants alone, with broader implications for the entire power sector.

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The report said that the National Grid, which is over 50 years old, is outdated and in urgent need of modernization to meet current operational standards.

Abaribe also noted other pressing issues, including operational inefficiencies, abandoned projects, regulatory gaps, security challenges, and the absence of  Supervisory Control and Data Acquisition (SCADA) systems essential for real-time monitoring and management.

Abaribe said: “Whenever a plant is shut down, they restart the plant and to restart it which they call a black start, it cost far more than running the plant.

“While it cost $105,000 to run the plant, to restart it will cost $7m. So for anytime we have a shut down occasioned by grid collapse, three plants in Nigeria that supply most of our electricity, Azura, Delta and Shiroro, to restart the plant cost Nigeria $25m or ₦42.5bn and if we expand it to the rest of the operating plants in Nigeria, it is actually not quantifiable.

“Aging infrastructure has been identified as a critical factor contributing to frequent grid failures. Many components of the grid are outdated and have not undergone necessary maintenance or upgrades, leading to increased vulnerability to failures.”

Contributing to the debate, Senator Adams Oshiomhole (APC, Edo North), criticised the privatisation policy as flawed and exploitative, stating it imposed undue financial burdens on Nigerians.

“The Discos are out for profit while they make our people suffer. I never imagined that a private person will collect money for services he did not render and Nigerians are helpless,” Oshiomhole said.

He recounted a personal experience of having to purchase a transformer and pay for its installation, only for it to become the property of the Abuja Electricity Distribution Company (AEDC).

Oshiomhole called for a comprehensive review of the privatisation policy in line with the administration’s “Renewed Hope Agenda.”

“After the procurement, it becomes the property of AEDC (Abuja Electricity Distribution Company). I even had to pay money from my pocket to connect the transformer to the grid.

“We have to revisit this ill-advised privatisation and we are going to advise Mr President in line with his Renewed Hope Agenda, to review the power sector privatisation,” Oshiomhole said.

On his part, Senator Abdul Ningi (PDP – Bauchi Central) added that the ongoing failures in the power sector persist due to a lack of accountability.

He argued that without sanctions for lapses, the sector’s inefficiencies would remain unaddressed.

He said, “Over the years, nobody has been punished for the lapses of the power sector. Reports alone without sanctions will not allow Nigeria to make any headway. The implication is that the problems will continue.”

After spirited debate on the report, during plenary the Senate stood down the consideration of the report and gave Abaribe’s committee additional six weeks to do a holistic investigation into the issues in the power sector and report back for further legislative actions.