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Controversy Trails Amended NLNG Act Submission To Senate
Barely two weeks after the amendment of Nigeria Liquefied Natural Gas Act by the House of Representatives, not much has been done to complete work on the Act.
Investigations showed that the House and the Senate have not started to work together on the amended Act, targeted at compelling the NLNG to contribute three per cent of its budget to the Niger Delta Development Commission (NDDC) for the funding of development projects and programmes in the Niger Delta region.
House of Representatives Minority Leader, Mr. Leo Ogor, confirmed in an interview that the amended Act was submitted to the Senate two weeks ago for concurrence or support.
But the upper chamber of the National Assembly, has indicated that it had not yet seen the amended Act.
Chairman of Senate Committee on Gas, Albert Akpan, said that his committee had not yet taken a position on the amendment because it had yet to receive it.
He said: “The Senate has not yet got the Act from the House of Representatives. We can’t react until we see the content.”
However, Ogor (PDP, Delta), who sponsored the amendment of the NLNG Act, told newsmen: “I think this thing is a very straight-forward issue, and like I said from the beginning, what we are asking the NLNG to do as a gas processing company in line with Section 14 (1)(b) of the Niger Delta Development Commission (NDDC), Act, which stipulates that three per cent of the total annual budget of any oil producing company operating on-shore and off-shore in the Niger Delta, including gas processing under which NLNG is supposed to be, goes to the NDDC.”
While reacting to the development, however, the management of NLNG Limited said the amendment of the Nigeria LNG Limited (NLNG) Act (Fiscal, Guarantees, Assurances, and Incentives) by the House of Representatives on May 9, 2017, will subject the company to more than just the three per cent NDDC levy due to the removal of the Guarantees and Assurances in the Act.
In a statement, General Manager, External Relations, Nigeria LNG Limited, Dr Kudo Eresia-Eke, stated: “The complete removal is a huge error, and it is inimical to the growth of Nigeria and a direct collision with the Federal Government’s drive to attract Foreign Direct Investment (FDI).
“The main thrust of the Guarantees and Assurances were to assure the foreign investors that their investments would be protected by the non-amendment of the NLNG Act,” the statement claimed.
Meanwhile, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has reiterated its opposition to the amendment of the Nigeria LNG Limited (Fiscal Incentives, Guarantees and Assurances) Act, calling on the National Assembly to halt the process in the interest of Nigeria.
The union made its position known when the leadership of the association visited the head office of NLNG, recently.
President of PENGASSAN, Francis Johnson, said any amendment to the NLNG Act, which is an agreement crystallised into law, should be driven by the executive arm of government, which entered into the deal with the foreign investors.
However, investigations showed that the involvement of Ogor as contractor to the NDDC has threatened the credibility of the House of Representatives to amend the NLNG Act.
Already, the Economic and Financial Crimes Commission (EFCC), stated that it has blocked over N116million belonging to Ogor.
According to EFCC, it was examining the payment of over N318million to two of the companies by the NDDC.
When contacted, Ogor declined to comment on the issue, adding that he had already made himself clear to the media.
When prodded, Managing Director of NDDC, Mr. Nsima Ekere, declined to comment on the issue.
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
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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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.