Politics
Reps: PIB Passes 2nd Reading
A bill for an Act to provide for legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, development of host communities and for related matter has passed second reading in the House of Representatives.
The bill which is also known as Petroleum Industry Bill (PIB) passed second reading after hours of debate during plenary yesterday in Abuja.
The Leader of the House, Rep. Ado Doguwa (APC-Kano) said that Nigeria had high gas deposit that was not being effectively utilised.
He said that if the PIB was passed into law, it would open up the sector, create jobs for the youths, women and men in the country.
Doguwa said that the bill, when passed, would also address the security challenges in the country such as kidnapping, banditry and terrorism would become a thing of the past.
The Minority Leader of the House, Rep. Ndudi Elumelu (PDP-Delta) said that the passage of the PIB was long overdue.
He said that the bill should be passed as soon as possible as the essence was to remove the uncertainty in the existing legal framework.
Elumelu said that some developed countries had set a time limit to transfer to green energy which would make crude oil almost useless.
The Rep said that the bill would institutionalise and ensure ease of doing business in the sector and help Nigeria maximise the benefits therein.
Also, Rep. Mohammed Mungonu (APC-Borno) said that the Nigerian National Petroleum Cooperation (NNPC) as currently constituted had become a clog in the wheel of progress in the sector.
Monguno, who is the Chief Whip of the House, said that the bill sought to unbundle the NNPC into smaller components to drive the sector in line with international best practices.
Rep. Henry Archibong (PDP-Archibong) recalled that the last reform bill passed in the sector drove some International Oil Companies (IOCs) from the country.
According to him, crude oil can now be found in many counties in Africa who are allegedly luring IOC to come and invest.
The lawmaker said that it was important to seek and take seriously, the views of IOCs operating in the sector before the bill was passed into law.
Also, Rep. Henry Nwawuba (PDP-Imo) urged the house to meticulously consider the bill before it was passed into law so as not to take the country back.
He said that the PIB had spent 12 years in the National Assembly but had not been passed because of many interests.
The legislator however said that there was need to pass the bill as it would attract investments and would be of economic gains for Nigeria.
“Let us take advantage of oil and build programmers that would sustain us after oil is gone,” he said.
Nwauba said one of the reasons PIB was not passed in the 8th Assembly was because of late engagement with the Executive on the bill.
He urged that the Executive be carried along to prevent any issue of misunderstandings at the end of the process.
Rep. Nkem Abonta (PDP-Abia) urged the house to be careful of “legislative mines” that could stall the passage of the bill.
In his ruling, the Speaker of the house, Rep. Femi Gbajabiamilia referred the bill to the ad hoc committee on PIB for further legislative actions.
The Senate yesterday received the 2026-2028 Medium Term Expenditure Framework and Fiscal Strategy Paper from President Bola Tinubu, marking the formal launch of the 2026 federal budget cycle.
In a letter addressed to the upper chamber, Tinubu said the submission complies with statutory requirements and sets out the fiscal parameters that will guide the preparation of the 2026 Appropriation Bill.
He explained that the MTEF/FSP outlines the macroeconomic assumptions, revenue projections, and spending priorities that will shape Nigeria’s fiscal direction over the next three years.
The letter was read during plenary by the Deputy President of the Senate, Senator Barau Jibrin (APC, Kano North), who urged lawmakers to expedite consideration of the document.
“It is with pleasure that I forward the 2026 to 2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper for the kind consideration and approval of the Senate.
“The 2026 to 2028 MTEF and FSP were approved during the Federal Executive Council meeting of December 3, 2025, and the 2026 budget of the Federal Government will be prepared based on the parameters and fiscal assumptions therein,” the President stated.
Last week, the Federal Executive Council approved the fiscal projections, pegging the oil benchmark price at $64.85 per barrel and adopting a budget exchange rate of ?1,512/$1 for 2026—figures expected to significantly shape revenue forecasts and expenditure planning.
After reading the President’s letter, Jibrin referred the document to the Senate Committee on Finance, chaired by Senator Sani Musa (APC, Niger East), with a directive to submit its report by Wednesday, December 17.
The Senate adjourned shortly after to allow committees to commence scrutiny of the fiscal framework and continue the ongoing screening of ambassadorial nominees.
Tinubu’s communication to the Senate came less than 24 hours after he transmitted the same MTEF/FSP documents to the leadership of the House of Representatives.
The letter was read on the House floor by the Deputy Speaker, House of Representatives, Benjamin Kalu, who also urged timely legislative action as required by law.
The MTEF and FSP are statutory instruments mandated by the Fiscal Responsibility Act and serve as the blueprint for Nigeria’s annual budgets.
They outline the government’s fiscal stance, macroeconomic assumptions, revenue frameworks, projected deficits, and sectoral priorities over a three-year period.
The Tide reports that approval by the National Assembly is a prerequisite for the executive to present the Appropriation Bill for the next fiscal year.
In a statement on Saturday, the former Senate Leader stated that the allocation of nominees across states and geopolitical zones falls short of the constitutional requirement for fair representation in the composition of the Federal Government.
The ex-Senate Whip warned that allowing the list to pass could deepen ethnic suspicion at a time when the administration should be consolidating national unity.
He highlighted disparities in the spread of nominees, noting that while some states have three or four slots, others have none. He also cited the inclusion of Senator Adamu Garba Talba from Yobe, who reportedly died in July.
“The entire North-East states have seven nominees in the list. Further checks revealed that the South-West geo-political zone has 15 nominees, while North-West and South-East have 13 and 9, respectively.
“North-Central region has 10 nominees in the list of career and non-career ambassadorial nominee while South-South parades 12 nominees,” Senator Ndume said.
According to him, such imbalances could heighten tensions and undermine Section 14(3) of the Constitution.
“My sincere appeal to President Tinubu is to withdraw this list. At this critical juncture in his administration, he should avoid missteps that could undermine national unity and foster ethnic distrust.
“I know him to be a cosmopolitan leader who is at home with every segment and stakeholder in the country. He should withdraw that list and present a fresh set of nominees that will align with the spirit of the Constitution on the Federal Character Principle,” Senator Ndume added.
He accused the legislators of undermining the sanctity of the legislature and acting as instruments of destabilization.
“The members of the Rivers State House of Assembly have, by their actions since they assumed office, shown that they are political puppets and a clog in the wheels of democratic progress,” Comrade Ememobong stated, adding that “They will go down in history as enemies of democracy and those who made mockery of the legislature.”
“So the easiest way to describe their action is a defection from APC to APC,” he said.
Comrade Ememobong announced that the party would deploy constitutional provisions to reclaim its mandate from those who have “ignobly and surreptitiously” abandoned the platform on which they were elected.
“Consequently, the PDP will take legal steps to activate the provision of the Constitution of the Federal Republic of Nigeria (1999 as amended) to recover the mandate gained under the banner of our party which these people have now switched to another platform,” he said.
He urged party members in Rivers State to remain calm and steadfast.
“We urge all party members in Rivers State to remain faithful and resolute, as efforts are underway to rebuild the party along the path of inclusiveness, fairness and equity,” Comrade Ememobong assured.
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