Headlines
Senate Passes Petroleum Bill, Six Others Rejected by Buhari
The Senate on Wednesday passed the Petroleum Industry Governance Bill and six other bills earlier rejected by President Muhammadu Buhari.
The passage of the bills followed the adoption of their clause-by-clause consideration that lasted some hours.
Other bills passed are the Stamp Duties (Amendment) Bill, National Institute of Hospitality and Tourism (Est.) Bill, National Research and Innovation Council (Est.) Bill and National Agricultural Seeds Council Bill.
The rest are the Agricultural Credit Guarantee Scheme Fund (Amendment) Bill and Independent National Electoral Commission Act 2010 (Amendment) Bill.
Buhari had refused to sign the bills for various reasons ranging from financial constraints, negative impact on Nigerians, duplication of responsibilities, violations of extant laws to a lack of consultation with relevant stakeholders.
The Senate recently adopted the report of its Technical Committee on Declined Assent to Bills, which reviewed the President’s observations and redrafted the affected clauses in the bills.
Withholding assent to the Petroleum Industry Governance Bill in August 2018, Buhari had kicked against the provision permitting the Petroleum Regulatory Commission to retain as much as 10 per cent of the revenue generated and expanding the functions of the Petroleum Equalisation Fund.
In the new bill, the Senate agreed with Buhari’s submission and reduced the revenue generated by the regulatory commission from 10 percent to five per cent.
It also expunged the Petroleum Equalisation Fund from Part IV of the new bill.
The new bills will be transmitted to the House of Representatives for concurrence before being sent to the President for his assent.
PIGB is a fraction of a more comprehensive Petroleum Industry Bill, one of the longest standing bills in the National Assembly.
It was first introduced to the National Assembly in 2008 as an executive bill by the late President Umaru Yar’Adua.
The Sixth National Assembly (2007 – 2011) refused to pass the bill.
It was brought back to the National Assembly in 2012 by former President Goodluck Jonathan.
In 2014, 47 out of the 360 members of the House of Representatives in the Seventh Assembly (2011-2015) were present when the bill was passed a few hours to the end of their tenure. But the bill failed to get concurrence from the Senate.
The current proposal is a private member bill sponsored by the Chairman, Senate Committee on Petroleum Upstream, Tayo Alasoadura.
The Punch
World-renowned boxer Anthony Joshua on Monday survived a ghastly road accident in Makun, Ogun State.
Eyewitnesses report that the incident occurred along a busy highway of the Lagos-Ibadan expressway.
The vehicle carrying Joshua, a Lexus Jeep with the number plate, KRD 850 HN, reportedly collided with a stationary truck under circumstances that are still being investigated.
Joshua reportedly sustained minor injuries, while two persons were said to have died on the spot.
Former Vice President Atiku Abubakar has cautioned that any attempt to hurriedly re‑gazette Nigeria’s new tax laws could undermine parliamentary oversight and set a dangerous constitutional precedent.
Atiku’s warning follows public scrutiny over reports that the Tax Reform Acts signed by President Bola Tinubu differ from the versions passed by the National Assembly. Lawmakers, including Abdussamad Dasuki, raised concerns that the alterations could pose serious legal and constitutional risks, noting that they were not backed by any constitutional framework.
In a statement on X, Atiku said the directive to re-gazette the Acts effectively confirms “that the gazetted version of the Tinubu Tax Act does not reflect what was duly passed by the National Assembly,” calling it “a grave constitutional issue.”
He emphasized that under Section 58 of the 1999 Constitution, a bill only becomes law after passage by both chambers, presidential assent, and gazetting.
“Gazetting is merely an administrative act of publication. It does not create, amend, or validate a law,” Atiku said, adding that any post-passage insertion, deletion, or modification without legislative approval constitutes forgery rather than a clerical error.
Atiku further warned that rushing a re-gazetting while legislative investigations are ongoing “undermines parliamentary oversight and sets a dangerous precedent,” stressing that the only lawful approach is “fresh legislative consideration, re-passage by both chambers, fresh presidential assent, and proper gazetting.”
The former vice president clarified that his position is not opposition to tax reform but a defence of constitutional order.
“This is a defence of the integrity of the legislative process and a rejection of any attempt to normalise constitutional breaches through procedural shortcuts,” he said.
The Federal government has denied wrongdoing, insisting the laws will take effect as scheduled on January 1, 2026, while the National Assembly has directed the issuance of Certified True Copies of the Acts to ensure clarity and accuracy.
Barring unforeseen circumstances, the Labour Party (LP) Presidential Candidate in the 2023 elections, Mr. Peter Obi, is set to formally join the African Democratic Congress (ADC) on December 31, 2025.
The development would put to rest months of speculation about where the former Governor of Anambra State would pitch his tent in the coming elections.
Reports claim that Obi would be defecting with serving senators and other lawmakers elected on the platform of the LP, as well as remnants of the Peoples’ Democratic Party (PDP) in the South East region.
Specifically, Obi would be defecting alongside the Senator representing Anambra Central, Victor Umeh; that of Anambra North, Tony Nwoye; Abia South, Enyinnaya Abaribe; PDP chieftain Ben Obi; and members of the Obidient movement in the region.
It is not clear if the Abia State governor, Alex Otti, is part of the planned movement to the ADC.
The governor was recently approached by the PDP to join the party and re-contest his current position in 2027.
Further reports quoted Obi’s spokesperson, Valentine Obienyem, as confirming the planned defection of his boss to the ADC.
“Yes, it is true,” he reportedly said on Sunday.
Senator Umeh said the event would hold in Enugu, adding that it would involve all Obi’s supporters across the South East region.
“They will come from Abia, Anambra, Ebonyi and Imo states to join those in Enugu, where this exercise will hold on 31st December,” he reportedly added.
Sources hinted that Obi, who has not hidden his intention to appear on the ballot in 2027, would contest the presidential ticket of the ADC.
On his part, Chief Chekwas Okorie, reportedly said that the expected formal defection of Obi to the ADC is a healthy development that could reshape the thinking and permutations of the 2027 general elections.
“I imagine that he would be defecting along with most of his associates and followers. I believe that a fortified and strong ADC will add value to the opposition and assuage the general fear of a possible one-party option to Nigerians come 2027. The APC, ADC and possibly the PDP locking horns in the 2027 democratic encounter promises a vibrant and robust electioneering campaign that will provide Nigerians the required options to make informed choices in electing their preferred leaders at all levels. I imagine that the APC leadership will return to the drawing table to map out the strategy to confront the emerging challenge. Nigerians are in interesting times,” Okorie stated.
National President of Njiko Igbo Forum (NIF), Rev Okechukwu Obioha, vouched support for Obi to ensure he reaches the pinnacle of his political career. He, however, cautioned that the ADC should not compromise merit and integrity in the choice of its presidential candidate, stressing that Obi remains the “hope for the restoration of the country on the path of greatness.”
