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Constitution Review: Reps Oppose VAT On Exclusive List …NASS Approves Financial Autonomy For State Legislatures, Judiciary, LGs …Rejects Bill For Women’s Seat Twice Before VP’s Wife

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The majority of members of the House of Representatives, yesterday, voted against a bill seeking to put Value Added Tax (VAT) on the Exclusive Legislative List.
Bill 34 containing the proposal failed to meet the required two-thirds of the 360-member House.
Also, the Senate, yesterday, passed a bill to empower the National Assembly and State Assemblies to summon the President and State Governors to answer questions bothering on security or any other issues on which the National and State Houses of Assembly have powers to make laws.
The bill seeks alteration to Section 67 of the Principal Act by inserting after subsection (3), a new subsection (4).
The new subsection (4) provides: “Nothing in this section shall preclude the National Assembly from summoning the President of the Federal Republic of Nigeria to attend a joint session of the National Assembly to answer questions on national security or any issue whatsoever, over which the National Assembly has powers to make laws”.
The bill further seeks to alter Section 108 of the Principal Act to insert a new subsection (4) to provide: “Nothing in this section shall preclude the House of Assembly of the State from summoning the Governor of the State to attend a sitting of the House of Assembly to answer questions on security or on any issue whatsoever, over which the House of Assembly has powers to male laws.”
Out of a total of 93 registered Senators, 77 voted in favour of the bill to summon the President and Governors, 13 against and 1 lawmaker abstaining, bringing total votes to 91.
The chamber also approved a bill to include presiding officers on the membership of the National Security Council.
It also passed a bill to make it an offence, and to provide for the possible conviction of any person who refuses to honour the summons of the National Assembly or any of its committee.
The bill seeks to alter Section 129 of the Principal Act to insert after subsection (2), a new subsection (3).
The new section provides: “Notwithstanding anything to the contrary in this Constitution, any person who after having been summoned to attend, fails, refuses or neglects to do so and does not excuse such failure, refusal or neglect to the satisfaction of the House or the Committee in question, commits an offence and is liable on conviction to such punishment as shall be prescribed by an Act of the National Assembly.
The chamber, however, turned down a bill to provide for more seats for women in the National and State Houses of Assembly.
Also rejected were bills to alter Part I of the Second Schedule to the 1999 Constitution (as amended) to include Value Added Tax on the Exclusive Legislative List; removal of transitional law-making powers of the Executive; to provide for Diaspora voting; to grant mayoralty status for the FCT; and appointment of minister from the FCT.
The Senate further approved financial autonomy for state legislatures, Judiciary and local governments in the country.
The approval came during voting on the report of the Senate Committee on the Review of the 1999 Constitution (Fifth Alteration) Bills, 2022.
Senators during voting on the report rejected pension for presiding officers of the legislature.
Out of a total number of 88 Senators registered to vote on the bill, 34 voted in support, and 53 against the bill.
Also rejected were bills to override Presidential veto in Constitution Alteration; and to override Presidential veto in respect of ordinary money bills.
The rejected bills require the mandatory four-fifth (votes of 88 senators) and two-thirds majority (votes of 73 senators) to pass, respectively.
The bill on Procedure for Overriding Presidential Veto in Constitutional Alteration seeks to provide for the procedure for passing a constitution alteration bill where the President withholds assent.
On the other hand, the bill for an Act to alter the provisions of the Constitution to provide the procedure for overriding executive veto in respect of money bills, seeks to provide for mode of exercising federal legislative power on money bills before the National Assembly.
While 94 Senators registered to vote on the bill to override presidential veto in constitutional alteration, 79 lawmakers of the chamber voted in support and 15 against it.
The bill fell short of the needed 88 votes (four-fifth requirement) to pass.
On the bill to override presidential veto in respect of money bills, out of a total of 84 registered Senators, 44 voted in support, and 39 against the bill.
The bill also fell short of the required two-thirds requirement (73 Senators) to pass.
In addition, the Senate also rejected bills to provide for the removal of presiding officers of the Legislature; and to change the name of Barikin Ladi Local Government Area in Plateau State to “Gwol” Local Government Area.
Similarly, the Senate also rejected two bills proposed to empower and to attach special recognition to women in Nigeria.
One of the bills is seeking the creation of one special seat for a woman at the Senate, House of Representatives and the Federal Capital Territory without prejudice to eligibility to contest.
The bill was rejected by senators who voted when it was considered.
It said: “The bill seeks to create a special seat for women in the Senate, House of Representatives and the State Houses of Assembly and the Federal Capital Territory reserved solely for women without prejudice to their eligibility to contest in the existing Senatorial seats in each State and FCT.”
Also, the proposed 35percent affirmative action for women in political party administration was also voted against by senators.
It was earlier reported that the wife of the Vice President, Mrs Dolapo Osinbajo and her entourage were in the Chamber as observers of yesterday’s legislative proceedings that saw senators rejecting two bills that concerned the female gender.

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

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President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.

Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.

He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.

“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.

He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.

The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”

Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.

He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.

“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.

The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.

Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.

Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.

Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.

Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.

He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.

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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow  …Restates Commitment Towards Veterans’ Welfare

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The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.

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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.

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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.

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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.

?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph,  Port Harcourt”, he said.

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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.

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Fubara Redeploys Green As Commissioner For Justice

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The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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