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Senate’ll Pass 2020 Budget On Nov 28, Lawan Insists

Published

6 years ago

November 13, 2019

President of the Senate, Dr Ahmad Lawan, has asked the Committee on Appropriations to lay its report on the 2020 budget on November 26, for consideration and passage before the end of the month.
Lawan, who stated this at plenary, yesterday, commended the various committees for rounding off their budget defence sessions on schedule.
He insisted that the resolve of the National Assembly to revert to the January-to-December budget cycle remained sacrosanct.
He said, “All the committees have done their works so well within the defined parameters.
“Therefore, we expect the appropriations committee to galvanise into action.
“They (members of the appropriations committee) should produce the report to be laid here on the 26th November, which is the next two weeks, before the Senate.
“I believe this will be the same thing in our sister chamber, the House of Representatives, so that we would be able to pass the 2020 Appropriation Bill on the 28th of November”, he added.
Also, the Senate, yesterday, appealed to the Federal Government to ban importation of textiles in the country for a period of five years to allow for the production of local textile materials.
This followed the debate on a motion sponsored by Sen. Kabir Barkiya (APC-Katsina Central) during plenary on “Urgent need to revamp the nation’s comatose textile industry”.
The upper chamber also appealed to the Federal Government to provide the necessary infrastructural facilities especially power supply to local textile manufacturing companies to revamp the industry.
It also called on the government to encourage local textile manufacturing companies by providing them with soft loans and easy access to credit facilities through the Bank of Industry.
Debating the motion, Barkiya noted that the textile industry in the country played a significant role in the manufacturing sector of the Nigerian economy with a record of over 140 companies in the 1960s and 1970s.
“The textile industry recorded an annual growth of 67 per cent and as at 1991, employed above 25 per cent of the workers in the manufacturing sector.
“The textile industry was then the highest employer of labour apart from the civil service.”
He noted that the industry had witnessed massive decline in the last two decades with many textile companies such as Kaduna Textile, Kano Textile and Aba Textile, among others, closing shops and throwing their workers into the job market.
The lawmaker further said that government policies like increase in taxation, high cost of production, trade liberalisation resulting in massive importation of textile materials had negatively affected the production of local textile materials.
Barkiya said that the resuscitation of the industry would provide additional revenue and assist government to diversify the nation’s economy.
Contributing, Deputy Senate Leader, Sen. Robert Boroffice (APC-Ondo North) said that the importation of textile materials was as a result of the comatose level of the textile industry.
“The closure of our borders is an eye opener. China closed its borders for 40 years for its industrialisation and development.
“I believe that the closure our borders should be extended to allow us put our house in order.”
Boroffice said that the extension of the closure of the borders would serve as an opportunity to resuscitate the textile industry, among other industries that had been characterised by smuggling.
But Senate Minority Leader, Sen. Eyinnaya Abaribe (PDP-Abia South), who disagreed with Boroffice on the fact that the closure of the borders would help revamp the industry, said that “closing the borders and doing nothing will not lead to increase in production of textiles.
“The real problems have been indicated; first, is the fact that we are unable to produce the cotton that we need.
“But far more important is the fact of power. Power was the key problem that made most of the textile mills closed.
“Once it became very difficult after 1982 for industries to be supplied with power and they needed to switch over to now produce their own power in order to do production, it became a lose, lose situation for most of the industrialists.”
Abaribe called on the Federal Government to do the fundamental, power, to ensure that the smuggling of textile products was done away with.
Similarly, Sen. Gabriel Suswam (PDP-Benue North-East) said that without power, no meaningful profit would be realised in any manufacturing industry in the country.
Suswam, who called on the government to address the issue in the power sector, said that if this was done, the manufacturers would be able to make profit.
“If we take concrete actions on these issues, our economy will be enhanced, the welfare of the people will be enhanced, insecurity and by extension, criminality, will be reduced,” he said.
In his remark, the President of the Senate, Dr Ahmad Lawan said that as Nigeria had signed the Africa Continental Free Trade Agreement, “we have to be prepared for the repercussions.
“We cannot stop trading easily with other people. We have to up our game; we need to be competitive,” Lawan said.
Meanwhile, the House of Representatives has called on the Federal Government, through the Nigerian Customs Service to lift the ban on the sales of Premium Motor Spirit (petrol) within 20km to the country’s borders.
It would be recalled that last Thursday, the Comptroller-General of the Nigeria Customs Service, Col. Hameed Ali (rtd), had directed that no petroleum products should be supplied to any filling station within 20 kilometres to the borders.
A member, Hon Sada Soli, moved a motion of urgent national importance at the plenary, yesterday, asking that the order by the NCS should be vacated.
According to him, the order by the customs boss contravenes the provisions of the Customs and Excise Act.
Soli argued that the filling stations asked not to sell petrol close to the borders were situated and constructed in compliance with relevant laws.
“This is not acceptable! Review this directive with a human face,” he stated.
Several lawmakers, who seconded the motion, criticised the policy while lamenting the hardships being faced by people living in border communities.

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INEC To Unveil New Party Registration Portal As Applications Hit 129

Published

4 days ago

July 11, 2025

The Tide

The Independent National Electoral Commission (INEC) has announced that it has now received a total of 129 applications from associations seeking registration as political parties.

The update was provided during the commission’s regular weekly meeting held in Abuja, yesterday.

According to a statement signed by the National Commissioner and Chairman of the Information and Voter Education Committee, Sam Olumekun, seven new applications were submitted within the past week, adding to the previous number.

“At its regular weekly meeting held today, Thursday 10th July 2025, the commission received a further update on additional requests from associations seeking registration as political parties.

“Since last week, seven more applications have been received, bringing the total number so far to 129. All the requests are being processed,” the commission stated.

The commission revealed the introduction of a new digital platform for political party registration. The platform is part of the Party Financial Reporting and Auditing System and aims to streamline the registration process.

Olumekun disclosed that final testing of the portal would be completed within the next week.

“INEC also plans to release comprehensive guidelines to help associations file their applications using the new system.

“Unlike the manual method used in previous registration, the Commission is introducing a political party registration portal, which is a module in our Party Financial Reporting and Auditing System.

“This will make the process faster and seamless. In the next week, the commission will conclude the final testing of the portal before deployment.

“Thereafter, the next step for associations that meet the requirements to proceed to the application stage will be announced. The commission will also issue guidelines to facilitate the filing of applications using the PFRAS,” the statement added.

In the meantime, the list of new associations that have submitted applications has been made available to the public on INEC’s website and other official platforms.

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Tinubu Signs Four Tax Reform Bills Into Law …Says Nigeria Open For Business

Published

3 weeks ago

June 27, 2025

The Tide

President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.

The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.

The ceremony took place at the Presidential Villa, yesterday.

The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.

The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.

“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.

Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.

Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”

Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”

He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.

“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.

According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”

He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.

The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.

However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.

At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.

They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.

After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.

By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.

In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.

“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.

“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.

He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.

The President added, “We are not just signing tax bills but rewriting the social contract.

“We are not there yet, but we are firmly on the road.”

Featured

Senate Issues 10-Day Ultimatum As NNPCL Dodges ?210trn Audit Hearing

Published

3 weeks ago

June 27, 2025

The Tide

The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.

Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.

However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.

Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.

A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.

It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.

The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.

“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.

“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”

But lawmakers rejected the request.

The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.

“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.

“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.

Other lawmakers echoed similar frustrations.

Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.

The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.

Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.

Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”

Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.

The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.

Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.

The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.