The Senate on Thursday approved the N49.7 trillion 2025 Appropriation Bill for second reading, after its presentation by President Bola Tinubu to the National Assembly. The passage of the budget came as the Senate adjourned its plenary session until January 14, 2025, to allow lawmakers to partake in the Christmas and New Year festivities. During…
The Senate on Tuesday has approved a bill to increase the minimum capital requirement for insurance companies in Nigeria from ₦2 billion to ₦10 billion, marking a 400% rise. In the capital requirement enshrined in the bill, a person shall not carry on an insurance business in Nigeria unless the insurer has and maintains, while…
President Bola Tinubu has formally requested the Senate to confirm Lieutenant General Olufemi Olatubosun Oluyede as the substantive Chief of Army Staff. In a statement released by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, President Tinubu is seeking Oluyede’s confirmation in accordance with Section 218(2) of the 1999 Constitution, as…
The Senate on Thursday sought the inclusion of Nigeria in the $147 billion global bitumen market with passage for a second reading of a bill seeking the establishment of a Bitumen Development Commission. The bill was sponsored by Senator Jimoh Ibrahim (APC Ondo South). He informed the Senate that more than 80% of the resources…
