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Buhari Seeks NASS’ Amendment Of PIA …Wants NNPC, EFCC Boards’ Confirmation
President Muhammadu Buhari has written to the Senate, seeking an amendment to the recently signed Petroleum Industry Act, PIA.
President Muhammadu Buhari also sought the House of Representatives’ amendments to the Petroleum Industry Act, including removal of the Ministry of Petroleum Resources and Ministry of Finance, Budget and National Planning from the boards of the Nigerian Upstream Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
In the letter, Buhari wants an amendment to the new Act to allow for the removal of the Ministers of Petroleum and Finance from the board of the Nigerian National Petroleum Corporation (NNPC), saying that they can continue to perform their functions without necessarily being members of the board.
In the letter read, yesterday, during plenary by the President of the Senate, Dr Ahmad Lawan, Buhari is also seeking for the amendment to allow the Non-Executive Members to be increased from two to six in the national interest.
The President, in three other letters to the Senate, asked for the confirmation of nominees into the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Upstream Regulatory Commission and the Economic and Financial Crimes Commission (EFCC).
The three confirmation letters from the President were read in yesterday’s plenary by Senate President, Dr Ahmad Lawan.
In a letter dated September 16, 2021, Buhari stated that the request to confirm the chairman, chief executive and executive directors for the Nigerian Midstream and Downstream Petroleum Regulatory Authority was being made in accordance with the provision of Section 34(3) of the Petroleum Industry Act 2021.
The nominees for confirmation into the Nigerian Petroleum Regulatory Board are: Idaere Gogo Ogan (chairman); Engr. Sarki Auwalu (chief executive); Abiodun A. Adeniji (executive director, Finance and Accounts); and Ogbugo Ukoha (executive director, Distributions Systems, Storage and Retail Infrastructure).
In another letter also dated September 16, 2021, the President while relying on the provision of Section 11(3) of the Petroleum Industry Act 2021, requested the Senate to confirm the appointment of four nominees as chairman, chief executive and executive commissioners to the Board of the Upstream Regulatory Commission.
The nominees are: Isa Ibrahim Modibo (chairman); Engr. Gbenga Komolafe (chief executive); Hassan Gambo (executive commissioner, Finance and Accounts); and Ms Rose Ndong (executive commissioner, Exploration and Acreage Management).
According to the President, requests for the confirmation of the board’s membership were made “in order to fast track the process for the establishment of the commission”.
In the third letter dated September 17, 2021, Buhari requested the upper legislative chamber to confirm the appointment of the secretary and board members of the Economic and Financial Crimes Commission (EFCC).
He explained that the request for the confirmation of the nominees was in accordance with the provision of Section 2(1) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.
Those to be confirmed include George Abbah Ekpungu, secretary (Cross River); Luqman Muhammed (Edo); Anumba Adaeze (Enugu); Alhaji Kola Raheem Adesina (Kwara); and Alhaji Yahaya Muhammad (Yobe).
At the House of Representatives, the Speaker, Hon Femi Gbajabiamila, read the cover letter attached to an executive bill presented to the House by Buhari at the opening of plenary, yesterday.
The proposals also include the appointment of non-executive board members; removal of the ministries from the boards of the two institutions; and appointment of executive directors to the boards.
The President’s requests to the House of Representatives are a rehearsal of the same demands he made to the Senate.
It would be recalled that the joint National Assembly committees that worked on the PIB had proposed five per cent equity share for the development of the host communities but the Senate-led the campaign for its reduction to three per cent while the House of Representatives approved the panel’s recommendation.
The conference committee set up by the presiding officers of both chambers in their recommendation, fixed the equity share at three per cent and was invariably approved by the National Assembly.
The development generated into controversy with senators from the South-South geopolitical zone kicking against it and asked Buhari to resolve the impasse by seeking amendment to increase the equity share to five per cent.
However, the new amendments proposed by the President did not address the concerns of the South-South stakeholders.
Rather, Buhari’s fresh request centred basically on the need to review the administrative structure of the Upstream Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Buhari is seeking the senators’ approval to increase the numbers of the non-executive board members of each of the regulatory agencies from two to six, in order to capture the six geopolitical zones.
He said, “The Petroleum Industry Act 2021 provided for the appointment of two non-executive members for the board of the two regulatory institutions.
“I am of the view that this membership limitation has not addressed the principle of balanced geopolitical representation of the country.
“Therefore, I pray for the intervention of the 9th Assembly to correct this oversight in the interest of our national unity.
“Needless to add that this amendment will provide a sense of participation and inclusion to almost every section of the country in the decision making of strategic institutions such as oil industry.
“If this amendment is approved, it will now increase the number of the non-executive members from two to six that is one person from each of the six geopolitical zones of the country”.
The President also removed the Ministers of Finance and Petroleum Resources from the board of the two agencies.
He said the two ministers already have constitutional responsibilities of either supervision or inter-governmental relations.
He said, “They can continue to perform such roles without being in the board.
“It is also important to note that administratively, the representatives of the ministries in the board will be directors – being the same rank with the directors in the institution
“This may bring some complications in some decision making, especially on issues of staff related matters.”
Buhari added that the appointments of the executive directors who would be in charge of the seven departments in the NMDPRA should not be subjected to Senate confirmation since they are civil servants who were promoted in the course of their career.
He said, “The Act has made provision for seven departmental heads in the Authority to be known as executive directors.
“Their appointment (according to the PIA) will also be subjected to Senate confirmation. These category of officers are civil servants and not political appointees.
“The Senate is invited to note the need to exempt serving public officers from the established confirmation process for political appointments.
“This will ensure effective management of the regulatory institutions through uniform implementation of public service rules for employees of the authority.
“In the future, these positions will obviously be filled by the workers in the authority.
Buhari said the proposed amendment would also increase the membership of the board from nine to 13 members that is representing 44 per cent expansion of the board site.
He said, “This composition would strengthen the institutions and guarantee national spread and also achieve the expected policy contributions”.
By: Nneka Amaechi-Nnadi, Abuja
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.”
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.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”