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Reps Reject Bill Seeking to Scrap Nigeria
Sovereign Investment Authority (NSIA)

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The House of Representatives on Thursday rejected a Bill seeking to scrap the Nigeria Sovereign Investment Authority (NSIA) and transfer of its assets and liabilities to the Ministry of Finance Incorporated.

The proposed legislation titled: “A Bill for an Act to Repeal the Nigeria Sovereign Investment Authority Act and Transfer the Assets and Liabilities to the Ministry of Finance Incorporated; and for Related Matters is being sponsored by Noon Oluwole Oke (Osun- PDP) the Chairman, House Committee on Public Accounts (PAC)

The rejected Bill provides that: “All funds currently in the custody of the Nigeria Sovereign Investment Authority (hereinafter be referred to as the Authority) shall be transferred to the Federation Account and all investments made by the Authority shall be managed by the Ministry of Finance Incorporated
established pursuant to the Ministry of Finance Incorporated Act”.

However, after the debate on the general principles of the Bill when it was mentioned for second reading, majority of the lawmakers voted against it, insisting that repealing the NSIA was not in the best interest of the country adding that it at variant with the Constitution.

The sponsor of the Bill, Hon Oke argued that the Authority was established in 2011 to among other things, manage and save resources for Nigerians but some of its functions are already been performed by Central Bank of Nigeria, hence it should be repealed.
According to him, “My prayer is that this Bill be allowed to scale through second reading, so that we can carry out a very comprehensive work, invite members of the public to speak on whether this body (NSIA) doesn’t contravene section 162 of the Constitution.”

However, other lawmakers had different opinions such as Henry Nwawuba who said there was every need for Nigerian to guard against eventualities, hence NSIA was still relevant in managing the country’s Sovereign Wealth Fund.

According to him, “I want to state on record that there’s a benefit of having a Sovereign Wealth Fund, there must have been a reason Nigeria decided to save for the rainy day. It should be taken into consideration as we debate on this. We should look at merits and demerits”.

On his own, Hon Chris Azubogu, noted that scraping NSIA and transferring the Sovereign Wealth Fund to the Ministry of Finance will project and portray Nigeria in a light that is not acceptable internationally.

Hon Azubogu explained that Sovereign Wealth Fund as an institution had been involved in sourcing funds globally and a lot of people have had some trust to do business with Nigeria based on that.

“Let us step down this Bill do further consultation, engage. The agency does not do proper reports to National Assembly, going forward we will give them chance to come and explain to us what they are doing. If there are things we need to amend in the Act to make them more responsible to National Assembly we will do that than repealing it,” he stated.

Another member, Hon Ayokunle Isiaka Ibrahim while opposing the proposed legislation said: “I’m against this Bill. The little that I know, the sovereign investment fund was a creation of this parliament to serve some peculiar purposes. The question is the purpose being met or not?

Hon Lynda Ikpeazu pointed out that it was important for lawmakers to look at the intendiments behind enacting the NSIA Act 2011 and understand why it was set up in the first place then they can take a decision.

According to her, “The sponsor made a reference to section 162 of the constitution. But when you look at 162(3,4), you will find out that this parliament set up this fund. Now that is not to say we can’t repeal, but what I am saying is that it doesn’t offend it.”

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Legislature

Kogi Assembly, CSO partner on HIV/AIDS anti-stigma legislation

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By Friday Idachaba, Lokoja

Kogi State House of Assembly has assured that the bill for a Law to provide for the prevention of HIV and AIDS Based Discrimination and stigmatization will be accorded smooth and accelerated passage for full implementation in the state.

Deputy Speaker of the Assembly Rt Hon. Comfort Nwuchiola Egwaba, disclosed this at a One-day Capacity Building And Media Round Table on the Proposed Anti-stigma Bill For HIV With Kogi State Assembly members.

She said that the partnership between the House and Initiative for Grassroots Advancement in Nigeria (INGRA), a Civil Society Organization (CSO,) had yielded fruits with the resounding support of members for the bill.

The meeting aimed at building capacity of Kogi State Assembly members and Media personalities on the issue of HIV stigma and discrimination among others, was organized by INGRA with support from AIDS Healthcare Foundation (AHF) in Lokoja.

The Deputy Speaker said that the private member Bill before the House had had its first and second readings and was being primed for Public Hearing and Third Reading by the House Committees on Health and Judiciary.

Nwuchiola-Egwaba said, “We have done more than justice to the Bill. This bill will scale through and will see the light of day. We are not living any stone unturned. We are doing this for our people.”

Also speaking, sponsor of the Bill, Hon. Bin Ebaiya Shehu-Tijjani (APC-Lokoja I) thanked his colleagues for the fervour with which they rallied support round him for the Bill to scale through the legislative mills and urged them to sustain the tempo until it is finally assented to by the governor.

Chairman of the House Committee on Health, Ochidi Usman (APC-Idah) decried the spate of discrimination and stigmatization against people living with the virus saying that they did not bargain for it.

He described them as victims of circumstances as he thanked the sponsor of the Bill and pledged to stand by him to provide support for the Bill to have accelerated passage.

Speaking earlier, Mr Hamza Aliyu Executive Director of INGRA who described the bill as a “Policy Bill” said it was not just for HIV/AIDS alone but against every form of discrimination and stigmatization against affected persons in the state.

He hinted that available statistics showed that over 28,000 persons are living with the virus in the state adding that they could be more as many are not aware of their status and are quite unwilling to get tested for fear of discrimination and stigmatization.

Aliyu said the Bill had been passed in 16 states of the Federation and would only be fair for the Act to be domesticated in Kogi through the legislation to ensure that affected persons are not unnecessarily discriminated against.

Executive Secretary, Kogi State Agency for Control of AIDS (KOSACA), Dr Sheidu Yunusa, who explained some of the provisions of the law, the offences and punishment said stigmatization and discrimination had the potency to destroy all the efforts being made to end the HIV scourge.

Dr Yunusa gave examples of stigmatization and discrimination against Persons Living with HIV (PL-HIV) to include health care professionals refusing to provide care or services to an affected person, Refusing casual contact with someone living with HIV.

It also include among others, socially isolating a member of a community on account of HIV positive status, referring to people as HiVers or Positives, Unlawful disclosure of an affected person’s status.

Amb. Idris Ozovehe Muraina, Chairman, Kogi NGOs Network (KONGONET) said, “we should not see this law as draconian but an attempt to squelch discrimination against out affected brothers and sisters.”

Comrade Jimoh Audu, Kogi State Coordinator of Persons Living With HIV AIDS (PLWHA) commended INGRA and the House of Assembly for their determination to get the Bill passed.

“We appreciate the meeting of our leaders, we believe in you. All we are asking it to reduce to the barest minimum the issue of discrimination against us. The medical practitioners should be more professional in their conduct”, he said.

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Legislature

Senate moves to probe 11, 856 abandoned projects across Nigeria

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***sets up ad-hoc panel

The Senate has pun in place an ad-panel to investigate the number of viable projects abandoned across Nigeria in all sectors.

The committee is also to recommend appropriate actions to be taken to reduce project abandonment in Nigeria and how most of the projects can be recovered.

The member Ad-hoc committee comprised Senators Lola Shiru (chairman), Jimoh Ibrahim, Mpigi Barinada, Abdullahi Yahaya, Victor Umeh and Isah Jibrin, members.

This came following the adoption of a motion on “Urgent need to look into the 11, 856 mega projects abandoned by the Federal Government” sponsored by Senator Jimoh Ibrahim (Ondo South).

The Senate noted that in 2011, President Goodluck Jonathan set up a Presidential committee on federal government- abandoned projects in Nigeria and the committee visited the 36 states in Nigeria and identified 11,866 projects abandoned by the Federal Government since Nigeria’s independence in 1960.
According to Senator Ibrahim, reports have it that about 63% of the entire projects since independence were abandoned, adding that the 63% of projects abandoned in Nigeria is worse than any country under comparison”.

“The abandonment of the project is of significant concern because of project costs which constitute a significant part of the GDP. While spending on a public project in the UK is now about one trillion British pounds Nigeria has no idea of the total amount spent on public projects either successful or unsuccessful since independence,

He observed, for instance that in the investigation carried out at the University of Cambridge doctorate in management science between 2018 and 2022, the value of the 38 projects investigated cost Nigeria over $40 billion”.

“What is now key to this investigation is the need to look inward at our infrastructural development as Foreign Direct investment declined from$8.8b in 2011 to $3.3 billion in 2019, and the current account balances in that year from $10.6 billion to 5-17 billion, while the population was growing around 5% about 86% of the citizen, were living under $2 between 2011 and 2019. Public debt increased from 17% of the GDP in 2011 to 29% in 2019.

According to him, government has the responsibility to set up a professional system that will deliver the critical value from major infrastructure development for its citizens, adding that for 66% of projects to be abandoned since 1960 is “nothing less than a calamity that reduces our pride as a ‘Giant of Africa’ if we are still one”.

He said three abandoned projects out of the 11,886 projects such as Ajaokuta Steel Company, where billion of dollars was spent without any production, Second Niger Bridge, etc are over 30% of the national debt.

In his contribution, Senator Orji Kalu (Abia North) said Nigeria cannot industrialize without steel production.

The former Abia governor said “we should face steel production. If we don’t face it, we are wasting our time. If you check our debt repayment, it is coming on this project.

“Why would Nigeria be suffering on what ought to have been done? We supposed to convert that our money and build these industries for debt repayment on them and save the interest we pay?

“We should appeal to President Bola Tinubu, may be 2026, 2027 budget we dedicate all these industries. They are our own. If we do not do it we will not move forward”, he said.

Senator Isah Jibrin said the abandoned projects should be properly profiled and the viable ones be sold to bring return on investment.

In his remarks, the Senate President Godswill Akpabio said Nigeria cannot be using over 90% of its resources to pay interest on loans.

The committee was given one month to report back to the Senate.

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Legislature

Convert Oloibiri Shell Airstrip to Airforce Base, Senate tells Aviation Ministry, Airforce

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Senate has urged Ministry of Aviation, Nigeria Airforce to take possession and convert the abandoned Shell Airstrip at Oloibiri oil well in Bayelsa state to modern Airforce base.

This followed adoption of a motion on urgent need for transformation of the abandoned Shell Airstrip at Oloibiri Oil Well 1 in Ogbia Local Government Area of Bayelsa State to an Air Force Base.
The senator representing Bayelsa East SundayAgadaga (PDP) who sponsored the motion said Shell airstrip was constructed in 1958 following the first discovery of crude oil in 1956 at Oloibiri Oil well one.
According to him the airstrip, sitting on over 25 hecters of land has long been abandoned.
Agadaga said that the airstrip, while in effective operation, was a very valuable asset in the company’s oil exploration and exploitation activities in airlifting of personnel and equipment.
He said during the years of its functionality, heavy duty equipment, company workers, captains of Industry, top government functionaries and diplomats resorted to the route for easy access to the Niger Delta region.

He expressed regret that since the gradual decline of Shell’s operations in the area and final departure from Oloibiri oil field, the airstrip and the land where it operated has been abandoned and left desolate.

“The land itself appears to have been sentenced to perpetual condemnation as no agricultural activity which is the economic mainstay of the local dwellers can be carried out anymore due to the concretized topography of the soil.”

According to him, the abandoned airstrip poses environmental challenges and serious ecological complications to the Host Community as Shell has left the people in deprivation, squalor and lamentation after decades of operation.

He observed that upgrading the abandoned airstrip to an airforce base would bring renewed hope to the people, restore life to the area and attract the following benefits to the country:

“It will strengthen the security architecture of Nigeria as the creeks of Bayelsa up to Brass Island and the coast of the Atlantic Ocean in the gulf of guinea where the oil export terminal is located will be easily monitored and protected.”
Agadaga
said its evental upgrade would reduce the rate of oil theft and pipeline vandalism.

This, he said would enhance surveillance activities in the numerous oil producing communities that constitute hub of oil industry activities in Nigeria.

He said the airstrip ,if converted to an airforce base would attract more business opportunities in the area thereby creating additional jobs to boost economic growth of Nigeriaa and ease the cost of living of the people.

Senator representing Kogi East Isah Jibrin (APC) said he was neither in support or against the motion pointing out that the cost implications of converting the airstrip to an airforce base would be huge, adding that government may not be dispose to consider the cost involved.

He said government may decide to confine the project on a long term basis, saying that he do not see the urgency in converting the airstrip to an airforce base at this period.

Sen. Adams Oshiomole (APC-Edo) said the conversion of the airstrip to an airforce base holds great benefits for Nigerians and people of the region especially on quick intervention on insecurity issues.

Sen. Maidoki Garuba (PDP-Kebbi) said the conversion would help strengthen security of the nation, check crude oil theft and pipeline vandalism.

Sen.Victor Umeh (LP-Anambra) said there was need to preserve certain historical monuments like Oloibiri, adding that the conversion of the airstrip to an airforce base would make Oloibiri a national monument, given its contribution as the first oil well in Nigeria.

He said the conversion would also ensure further economic prosperity for the nation.

President of Senate, Godswill Akpabio said efforts should be made to preserve historical monuments, like the Oloibiri Shell airstrip via its conversion to an airforce base.

He also said the conversion to an airforce base would also ensure improved security in terms of emergency, given its closeness to the golf of guinea.

Akpabio expressed hope that the government would see the need for the reconstruction of the airstrip to an airforce base to forestall challenges in the event of any mishaps.

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