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Senate passes Bill on Investments and Securities ……As Bill scales third reading …gives SEC more regulatory powers

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By George Mgbeleke,Abuja

The Senate Wednesday passed for third reading , Investments and Securities ( Repeal and Enactment) Bill 2024.

Passage of the bill for third reading by the Senate , followed consideration and adoption of recommendations made to that effect by its Committee on Capital Market , Chaired by Senator Osita Izunaso ( APC Imo West) .

The Committee in the report , informed the Senate that repeal and enactment bill , when signed into law , will make the Securities and Exchange Commission ( SEC) , the apex regulatory authority for the Nigerian Capital Market .

Objectives of the proposed law , as clearly stated in the bill, are strategically streamlined within the contemplation of emerging global best practices in Investments and Securities by protecting the integrity of the security market against all forms of market abuse and insider dealings , preventing unauthorized, illegal , unlawful, fraudulent and unfair trade practices , relating to securities and investments etc

The report reads : ” That the extant law as revolutionary as it was at its inception, after many years of its operation, requires systemic substantial updates to align with the evolving financial markets and regulatory frameworks globally, in order to make it more attractive to both local and foreign investors;

‘That the enactment of this proposed legislation will undoubtedly provide significant opportunity to drive the growth of the capital market and diversification, thereby creating a conducive atmosphere for investors in the Nigerian Capital Market.

” That the Bill contemplates to address modern forms of financial malpractices and reinforce investors’ protection by engendering robust regulations around market abuses, insider trading and governance standards for publicly traded companies

” That the Bill envisages regulatory framework for digital currencies and fintech activities, including the supervision of blockchain and cryptocurrency transactions to support the integration of innovative technologies within the scope of the capital market.

“That the Bill seeks to set a clear-cut delineation of roles amongst regulatory bodies in order foster transparency and reduce regulatory overlap, thereby enhancing the operational efficiency of Nigeria’s Securities and Exchange Commission;

“That the Bill seeks to support the introduction and regulation of diversified financial instruments, including derivatives, Exchange Traded Funds (ETFs) and other sophisticated products, which are essential for meeting the needs of a broad investor base and increasing market depth; and

” That the passage of the Bill will bring about diversity and growth in the capital market, through market offerings that would form the foundation for economic expansion, thereby creating job opportunities within the Nigerian Capital Market” .

The Senate accordingly after clause by clause consideration of the bill , passed it for third reading .

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Deputy Senate President Rallies Students For President Tinubu’s Second Term

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Deputy President of Senate, Barau Jibrin flanked by NANS officials

By George Mgbeleke

For continuity of President Bola Ahmed Tinubu’s initiatives in the education sector, including student loans, the Deputy President of the Senate, Senator Barau I. Jibrin, has urged Nigerian students to support the re-election of the President.

Chairing the 45th anniversary of the National Association of Nigerian Students (NANS @45) in Abuja on Friday, Senator Barau said President Tinubu is genuinely committed to addressing the challenges facing the country, hence the various reforms embarked upon by the administration.

” The time is here for the Nigerian students to show their appreciation by supporting the second term bid of Mr President so that this trajectory of helping students, the trajectory of bringing reforms and innovations to transform our education sector, to help the youth, will continue.

” Let them continue to cooperate with the government, to work with the government and work for His Excellency’s reelection. Now, we have a government that is friendly to youth, that is helping the youth, that is transforming their lives, that is making it possible for the children of the poor to pursue their educational pursuits. So they should now reciprocate by coming together to work with Mr President so that all the goodies that Mr President is providing will continue and their lives will be fully transformed,” he said.

In a statement by his Special Adviser on Media and Publicity, Ismail Mudashir, Senator Barau commended President Tinubu for his bold and impactful reforms in the education and other sectors, noting that the ongoing government initiatives are laying a strong foundation for national development.

Senator Barau who is also the First Deputy Speaker of the ECOWAS Parliament, said education remains the most powerful tool for national transformation, hence the need to commend the President for his purposeful interventions in the sector.

“We must continue to expand access, improve quality, and align education with the realities of a modern, dynamic world. Our young people must be equipped not just with certificates but with skills, innovation, and entrepreneurial capacity, and that is what Mr President is doing.

“Key among these is the Nigerian Education Loan Fund (NELFUND), which is expanding access to higher education; the establishment of new tertiary institutions( including in my village, Federal University of Science and Technology, Kabo); improved engagement with academic unions; and policies that are helping to stabilise the academic calendar with a view of ensuring that students graduate on time. These are critical foundations for a stronger future,” he noted.

Senator Barau stressed that education remains central to the Tinubu administration’s broader vision for economic growth and national transformation, urging students to take full advantage of the opportunities being created.

“Our young people must be equipped not just with certificates, but with skills, innovation, and entrepreneurial capacity,” he said.

While acknowledging the historic role of Nigerian students in nation-building, the Deputy Senate President described NANS as a critical partner in advancing government efforts aimed at youth development and inclusive growth.

Senator Barau urged the leadership of NANS to sustain its role as a responsible voice for students and a partner in building a stable and prosperous Nigeria

“Let your activism always be guided by patriotism, integrity, and a genuine desire to build a sound nation that we shall all be proud of. Let this 45th anniversary be more than a celebration of the past; let it be a renewed commitment to the future: A future of unity, opportunity, justice, equity, and shared prosperity,” he said.

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Dantsoho: Reforms, Oyetola’s Impact Responsible for Maritime Sector’s Recent Transformation **Says Nigeria can dominate Africa’s blue economy

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Dr. Abubakar Dantsoho (CEO of NPA)and Dr Adegboyega Oyetola (Minister of Marine and Blue Economy)

Jonas Ezieke
Managing Director and Chief Executive Officer CEO of the Nigeria Ports Authority NPA Dr. Abubakar Dantsoho, has attributed the transformation of the nation’s maritime sector to the impact of the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola and the federal government reforms.

This was as Dantsoho has assured investors that Nigeria has the capacity to dominate Africa’s blue economy, citing ongoing federal government reforms and increased private sector participation as critical drivers of transformation in the maritime sector.

Dantsoho gave the assurance while speaking at the Blue Economy Investment Summit in Abuja, where he stressed that Nigeria’s port system would play a pivotal role in unlocking strategic investments and accelerating economic growth.

He noted that the country must urgently refocus its economic priorities toward fully harnessing its vast marine resources in line with global sustainability goals.

“The time has come for a paradigm shift in the structure of Nigeria’s economy towards the full utilisation of our marine resources. Our port system, if properly harnessed, can serve as a major driver of economic growth,” Dantsoho said.

The NPA boss explained that Nigeria’s strategic location, large population and economic strength position it to become a maritime hub for West Africa, comparable to global leaders such as Singapore and Morocco.

“By virtue of our strategic location, market size and economic strength, Nigeria is well-positioned to function as the maritime hub for West Africa,” he added.

Despite these advantages, Dantsoho expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region, even though it accounts for over 60 per cent of West Africa’s GDP.

“It is worrisome that Nigeria, despite controlling over 60 per cent of West Africa’s GDP, handles only about 25 per cent of the region’s cargo traffic. This clearly shows that we have not fully optimised our potential,” he said.

He, however, assured investors that the tide is turning, as the federal government, through the Federal Ministry of Marine and Blue Economy, is implementing far-reaching reforms to reposition the sector.

According to him, key initiatives include port modernisation, deployment of a Trade Single Window, implementation of a Port Community System, development of deep seaports and full digitalisation of port operations.

“We are implementing key strategic initiatives such as port modernisation, trade single window, port community system, deep seaport development and full digitalisation to reposition our ports for global competitiveness,” he stated.

Dantsoho emphasised that private sector funding remains central to achieving these goals, noting that the NPA is actively encouraging project financing to bridge infrastructure gaps and improve efficiency.

“We are open to private sector participation through project financing. This approach is already improving efficiency and providing access to funding for critical infrastructure,” he said.

He added that the reforms are designed to enhance port efficiency, improve connectivity, reduce freight costs and boost non-oil exports, ultimately driving revenue growth.

“The ultimate goal is to improve liner connectivity, attract bigger vessels, reduce freight costs, and expand our export base, which will significantly boost revenue generation,” he noted.

Dantsoho stressed that competitiveness in the global maritime industry requires efficient operations, competitive pricing and strong hinterland connectivity, adding that Nigerian ports must remain adaptive to evolving global shipping trends.

“With sustained commitment to these initiatives, Nigeria’s port system will enter a new phase and emerge as a leading maritime logistics hub in Africa,” he assured.

Also speaking, the Minister of Marine and Blue Economy, Gboyega Oyetola, said Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, place it in a strong position to lead the sector.

“With over 823 kilometres of coastline, extensive inland waterways and a prime location along the Gulf of Guinea, Nigeria is uniquely positioned to harness the immense potential of the marine and blue economy,” Oyetola said.

He added that reforms by the federal government have improved coordination, strengthened maritime security and boosted investor confidence, noting that the sector accounts for over 90 per cent of Nigeria’s international trade by volume.

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Niger state moves to strengthen interventions across ten (LGAs) identified as zero dose burden to immunise children

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Dr. Murtala Babagana (middle)

By Uthman-Baba Naseer,Minna

The Niger State Government has said that it will strengthen interventions across ten local government areas (LGAs) identified as zero dose burden to immunise children within the next eight months.

The State Commissioner for Health Dr. Murtala Babagana stated this while speaking at the Socialization Meeting on Republic of Korea (ROK)-United Nations Children Emergency Fund (UNICEF) partnership grant on maintaining and strengthening immunization and Essential Service in ten prioritized LGAs in the state.

Dr. Murtala Babagana blamed the burden in the state on insecurity and the number of hard to reach communities in the state, particularly security prone communities.

The Commissioner who was represented by the Ministry’s Permanent Secretary, Dr. Abdullah Imam while commending the UNICEF, and the Republic of Korea for the grant, urged the ten LGAs of Bida, Chanchaga, Edati, Gurara, Katcha , Kontagora, Mariga, Rafi, Suleja and Wushishi to ensure ownership so they can strengthen both routine immunization and outreaches at facilities and in communities.

According to him “as a state, we are doing everything possible to ensure insecurity is curbed. We can all see the negative impact of insecurity, everybody is worried.

“It is not enough to plan for zero dose. We should plan so that there will be no zero dose because every child that is not immunized is exposed and it is a risk to other children.”

In his remarks, the Executive Director, Niger State Primary Health Care Development Agency, Dr. Inuwa Junaidu explained that the state is positioned in such a way that there are a lot of challenges faced which include banditry and insecurity especially surrounded by Zamfara, Kebbi, Kogi and Kaduna states. “All we need to do now is to prioritize”, he said.

Accordingly, Dr. Junaidu disclosed that “we did a quick appraisal to identify LGAs that have contributed to the burden of zero-dose. So, with support from the Korean government and UNICEF we are trying to ensure that all zero-doses are identified and then vaccinated within the eight month period”.

He then said “we will, identify, enumerate, vaccinate and to ensure that the burden of zero dose is reduced to the barest minimum in Niger State.

In his goodwill message, the UNICEF representative, Health Specialist from the Kaduna Field Office, Dr. Ahmed Tsofo disclosed that, to actualise the implementation of the program, it will rely on the strong existing partnership with the state, saying “UNICEF will stand with you shoulder to shoulder to ensure that we do our best so that this project succeeds.”

He however disclosed that “Nigeria has the highest burden of zero dose globally of 2.1 million with Six states of Adamawa, Bauchi, FCT, Lagos Niger and Ogun identified. And some of these children are in Niger state and in these 10 LGAs.

“The coverage gap and the persistently outbreaks of vaccine preventable diseases like diphtheria, measles, cholera are the reasons for this support. But the insecurity challenge has been hindering us from reaching children” he asserted

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