OrderPaper continues to serve as a vital compass for navigating Nigeria’s National Assembly, boasting an impressive 80 percent accuracy rate in its forecasts for the plenary week of December 3 to December 5, 2024.
Weekly plenary forecasts from OrderPaper’s Legislative Intelligence Unit has proved to be a valuable resource for both public and private sector decision-making, as many of the issues highlighted last week were indeed addressed in the National Assembly.
Here’s a recap:
Tinubu’s controversial tax bills
As anticipated in OrderPaper’s forecasts, the controversial tax bills came up in the National Assembly. In response to reports by some media organisations suggesting the tax reform bills were off the table, Senate leader, Opeyemi Bamidele, confirmed discussions are ongoing and criticised alleged attempts to intimidate the legislature, stating, “the Senate cannot be bullied – tax bills are alive.” The senate made it clear that a committee has been established to collaborate with the Attorney General on the bills’ contentious provisions. In the House of Representatives, Spokesman Rep. Akin Rotimi Jr. (APC, Ekiti) and his deputy, Rep. Philip Agbese (APC, Benue), faced backlash from members after announcing their endorsement of the controversial tax bills.
2025 budget benchmarks
In line with our forecast, the senate approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which outlines a total budget of N47.9 trillion and plans for N9.22 trillion in borrowing. The MTEF was submitted to both chambers of the National Assembly on November 19, 2024. While the House of Representatives passed it the following week, the Senate was unable to address it at that time, despite its inclusion on the order paper.
Niger boat mishap
As predicted by OrderPaper, the House of Representatives called for an investigation into recent boat mishaps in Nigeria. The lawmakers insisted on a comprehensive review of safety regulations by the Nigerian Maritime Administration and Safety Agency (NIMASA) and the National Inland Waterways Authority (NIWA) to prevent future occurrences.
Rampant incidents of delayed and cancelled flights
The senate summoned the minister of aviation, Festus Keyamo, and relevant stakeholders to address rampant flight delays and cancellations in Nigeria. This decision was prompted by numerous media reports highlighting the issue, which has raised concerns about the reliability of air travel, especially for business and official purposes.
STAR bill
This week, we’re highlighting some of the most impactful bills introduced in the National Assembly. From the Senate, the STAR bill, spearheaded by Senate Leader Bamidele Opeyemi (Ekiti Central), aims to position the Securities and Exchange Commission (SEC) as the primary regulatory authority for Nigeria’s capital market. The bill seeks to ensure that the market operates fairly, transparently, efficiently, and safely.
In the House of Representatives , Rep. Babajimi Benson (APC, Lagos) introduced a bill that targets the prohibition of gas flaring in Nigeria. This legislation not only aims to ensure compliance with international standards but also promotes environmental sustainability and encourages the utilisation of natural gas resources to foster economic growth.
Are your lawmakers sponsoring bills that truly meet your needs? How are you holding them accountable?
Stay informed on legislative developments by following OrderPaper on our social media platforms for updates on bills sponsored by your lawmakers every plenary day.
