Economy
National Assembly Sends Investments Bill To President For Approval
National Assembly Sends Investments Bill To President For Approval
National Assembly sends investments bill to president for approval. The National Assembly has officially forwarded the Investments and Securities Bill (ISB) 2024 to President Bola Tinubu for approval, a major milestone in Nigeria’s efforts to enhance capital market regulations.
Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, confirmed during a Securities and Exchange Commission (SEC) budget session in Abuja that Senate President Godswill Akpabio had signed the bill, with the expectation that the President will give his assent within the next 30 days.
In related developments, the House of Representatives has scheduled a public hearing for President Tinubu’s tax reform bills on February 26, 2025.
Meanwhile, the Senate has approved adjustments to the 2025 Appropriation Bill, correcting discrepancies in budget allocations across various Ministries, Departments, and Agencies (MDAs). These changes aim to ensure fiscal accuracy and transparency.
To foster investor confidence, Senator Izunaso also announced the committee’s recommendation for a special N10 billion fund in the 2025 budget to support investor education.
Senator Anthony Yaro (PDP, Gombe South) praised the SEC for its proactive approach in 2024, noting that with initiatives like the ISB and reduced deductions, the Commission’s performance is expected to improve in the coming year.
SEC Director-General Dr. Emomotimi Agama expressed gratitude for the National Assembly’s backing and highlighted Nigeria’s performance as one of the best global markets in 2024. He also shared that the Federal Government’s revenue deduction from SEC would be reduced from 50% to 20% starting March 1, 2025.
However, Senator Victor Umeh (LP, Anambra Central) raised concerns about fraudulent financial disclosures and called for stricter oversight to protect investors from deceptive practices.
Meanwhile, the tax reform bills have successfully passed their second reading in the House, receiving strong support from lawmakers. Speaker Tajudeen Abbas announced the formation of a 36-member committee, led by Abiodun Faleke (APC, Lagos), to guide the tax reform process.
The committee will include experts in tax administration to assess the proposed changes.
Lastly, the National Assembly’s budget review process, led by Senate President Akpabio, resulted in the adjustment of the N54.99 trillion 2025 Appropriation Bill.
National Assembly
Amendments were made to key allocations across various sectors, including the Ministry of Defence, Ministry of Police Affairs, and the National Intelligence Agency, ensuring fiscal prudence and alignment with national priorities.
With these adjustments in place, the National Assembly has reinforced its commitment to transparency, fiscal discipline, and responsible governance, aiming for effective implementation of the 2025 budget with a focus on security, infrastructure, education, and social welfare.
NNPC Ltd. HSE Chief Sets Tone For Industry-Wide Safety Standards
NNPC Ltd.’s Chief Health, Safety and Environment Officer, Tonye Alagba, has urged Health, Safety and Environment (HSE) personnel across the company to strengthen collaboration and build a unified HSE team.
Alagba, who made the call at the recent First Quarter 2026 HSE Council Meeting held in Abuja from 15th to 17th April, 2026, called for collective responsibility, strict compliance, and proactive prevention of HSE violations across all business units.
NNPC
NNPC Ltd. values strict HSE adherence across all its businesses and operations. The HSE Council Meeting signals the company’s broader intent to raise the bar for safety culture across Nigeria’s energy sector.
NNPC, SNEPCo, NCDMB Donate Geosciences Centre To UNILAG
NNPC Limited, in partnership with Shell Nigeria Exploration and Production Company Limited (SNEPCo), the Nigerian Content Development and Monitoring Board (NCDMB), and the University of Lagos (UNILAG), commissioned and donated the newly built UNILAG Geosciences Centre of Excellence to the University on Friday.
Purposely built to strengthen geosciences education and research in Nigeria, the Centre was inaugurated by the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services Ltd. (NUIMS), Olanrewaju Igandan, alongside the Managing Director of SNEPCo, Ronald Adams; Director of Capacity Building (NCDMB), Abayomi Bamidele; Lagos State Commissioner for Tertiary Education, Tolani Sule; and the Vice-Chancellor of UNILAG, Professor Folasade Ogunsola.
The Centre boasts of a 250-seat auditorium, geoscience and instrumentation laboratories, a rock preparation workshop, hydrogeology, mineralogy, environmental geology, sedimentary and palaeoenvironmental sciences laboratories, a seismic interpretation room, a modern library, a digital museum, and collaborative spaces for students and researchers. It is also supported by a 600 kVA transformer, a 40 kVA solar power facility, and a field investigation coaster bus.
SNEPCo, NNPC
By connecting academia, industry, and government under one roof, the Centre provides Nigerian students and researchers with hands-on access to modern energy tools, reduces the oil and gas industry’s reliance on international markets for testing and training, and builds the in-country expertise Nigeria’s energy sector needs.
NNPC Limited remains committed to driving capacity building, supporting national development, and working with partners to secure a stronger energy future for Nigeria.
NNPC: Ministers Chart Course Gor West African Gas Pipeline (WAGP)
The Committee of Ministers for the West African Gas Pipeline Project met in Abuja on Friday, reaffirming its central role in West Africa’s regional energy agenda.
The meeting brought together ministers and high-level representatives from Nigeria, Benin, Togo, and Ghana, alongside officials from ECOWAS, the West African Gas Pipeline Authority (WAGPA) and West African Gas Pipeline Company Limited (WAPCo).
Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, who opened the meeting, reaffirmed Nigeria’s commitment to the long-term sustainability and expansion of the pipeline, adding that since its inception, the WAGP has transported over 613 million MMBtu of natural gas, with Nigeria accounting for more than 68 per cent of total volumes supplied to Benin, Togo, and Ghana.
NNPC
On his part, NNPC Limited’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, emphasised the company’s active stewardship of Nigeria’s gas export commitments and its broader role in shaping regional energy cooperation across West Africa.
With gas throughput reaching approximately 80 million MMBtu in 2025, a 22 per cent rise on prior years, and discussions advancing on expanding pipeline capacity utilisation by 45 per cent in 2026, NNPC Limited remains at the centre of efforts to grow a credible, commercially viable regional gas market.
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