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President Tinubu Says He Signed Executive Order To Unlock $10bn Fresh Investment In Oil And Gas

By Gloria Ikibah
President Bola Tinubu has said that he recently signed an Executive Order to unlock about $10 billion in fresh investments in the oil and gas sector.
President Tinubu stated this at a two-day retreat on Economic Transformation And Development organised by the House of Representatives on Tuesday in Abuja.
According to him, the development is expected to happen through Fiscal Incentives for Non-Associated Gas (NAG), Midstream and Deepwater Oil & Gas Developments.
The President who was represented by his Chief of Staff, Femi Gbajabiamila, also disclosed that last week, the Nigerian government signed the consolidated guidelines for implementing Fiscal Incentives for the Oil & Gas Sector.
He explained that the guidelines, which represent a cornerstone of the Presidential Directive, aim to enhance the Nigerian oil and gas sector’s global competitiveness while stimulating economic growth.
He said: “The Executive Order also streamlines contracting processes, procedures, and timelines from 36 months to 6 months. The order also seeks to ensure that local content requirements are implemented without impeding investments or the cost competitiveness of oil and gas projects”.
Related to this, the President said are the reforms being implemented to the nation’s tax regimes that would limit taxes collected without negatively affecting government revenues.
He said: “All of these have the same objective – to reduce government interference with the commercial imperatives of businesses in the country so that businesses based here can be competitive and focus on their core objectives of economic growth through innovation and trade.
“We will need the support of the National Assembly to fully implement some of these reforms, as statutory changes will be required in some areas.
“I am confident that when the time comes, the governing partnership we have established between the Executive and the Legislature will ensure that these changes are effected swiftly to benefit our nation.”
The president further stated that despite the sceptics, the productive collaboration between the executive, the House, and the Senate has yielded significant results with the successfully passage of numerous bills aimed at enhancing the welfare of Nigerians.
He therefore expressed appreciation to the leadership of the National Assembly for their swift action in considering and passing the Student Loans (Access to Higher Education) (Repeal and Reenactment) Act 2024.
“Your actions have substantially fortified the legal framework of the Students Tertiary Education Loan Program, ensuring its efficient implementation. These achievements are a testament to the power of our partnership and the positive impact it can have on our nation.
“In a World Bank document titled “Legislative Oversight and Budgeting: A World Perspective,” Thomas Frederick Remington wrote “for legislators to effectively fulfil their roles of representation, oversight, and law-making, a certain level of cooperation between the Legislature and the Executive in policymaking is essential.
“The legislature must have the capacity to monitor the executive, and the executive, in turn, should be willing to comply with the legislative enactments.
“It is not just a coincidence but a strategic advantage for our country that the governing relationship between the Executive and the Legislature perfectly reflects this ideal.
“As you know, my administration is implementing significant policy changes to reform how we govern and position our country for progress and shared prosperity for all citizens.
“These reforms, while necessary and, in some cases, long overdue, are not without their challenges. I am deeply grateful for your unwavering support and understanding during these times. Your understanding and support have been invaluable, and I am confident that with our continued collaboration, we can overcome any challenges that lie ahead.
“The oil and gas industry has long been the lifeblood of our national economy. My administration is working tirelessly to change this and diversify our economy from overreliance on the production of fossil fuels. However, we are also determined to maximise revenue potential from this critical industry.
“For this reason, we are pushing policies to attract investment in the oil and gas sector”.
The President also added: “We can only justify our collective mandate and the trust our people repose in us through constructive collaboration between the National Assembly and the Executive. This joint effort is the minimum the people who voted for us expect from us.
“However, the very essence of checks and balances means there will be times when the executive and legislative prerogatives inevitably collide. Above all else, the national interest must guide our decisions in those moments. We share a common responsibility in shaping the future of our nation, and it is through our collaboration that we can effectively fulfil this duty”.
News
Belgian Ambassador Commits to Stronger Nigeria Ties

By Gloria Ikibah
The Embassy of Belgium in Nigeria has reaffirmed its commitment to deepening diplomatic relations with the country.
Belgian Ambassador Pieter Leenknegt stated this during a courtesy visit by the Diplomatic Correspondents’ Association of Nigeria (DICAN), led by its Chairman, Frederick Idehai, at the embassy in Abuja.Discussions centered on fostering collaboration, particularly in capacity-building initiatives for DICAN members and other areas of mutual benefit.
Addressing the delegation, Ambassador Leenknegt also commented on the ongoing discord between Senate President Godswill Akpabio and Kogi Senator Natasha Akpoti-Uduaghan, describing it as an unnecessary distraction, urging key stakeholders to promote dialogue and reconciliation in the interest of national stability.
Speaking further, Ambassador Leenknegt has some reservation over what he described as “sloppy journalism” among Nigerian Journalists which needs to be corrected.
This unpalatable adjective, according to the envoy, stems from an experience he had when he visited the Minister of the Federal Capital Territory, Nyesom Wike.
“It was a fruitful meeting I had with the FCT Minister with key areas of interest well highlighted.
“However, the next day I was surprised to find in over 13 print and online media that the meeting the previous day, was between the outgone Ambassador of the Embassy and with his photograph attached.
“This was a meeting I personally attended so how could they attribute it to my predecessor and attached his photo?
“That’s terrible and what it meant was that one person goofed and others copied from the original source without due verification,” he lamented.
Earlier in his remarks, DICAN Chairman, Comrade Idehai Frederick emphasised that the partnership will enhance cultural exchange between Nigeria and Belgium.
He said the role of media in promoting democracy, good governance and bilateral relations cannot be overemphasized.
“We will provide your country with the needed support in the area of quality and credible reportage for the sake of humanity,” Idehai said.
The visit also touched on the upcoming DICAN Diplomatic/Security International Conference, scheduled for June 19, 2025, in Abuja to brainstorm on how to make the world a better and safer place.
“We want to enhance bilateral relations through our engagement and agenda setting.
“When governments across the nations of the world know that journalists are interested in monitoring their programmes, they wake up and address their challenges,” Idehai stated.
News
Reps Minority Caucus Condemns Killings in Edo State

By Gloria Ikibah
The Minority Caucus of the House of Representatives has strongly condemned the recent killings of about 16 Nigerians, mainly northerners, by an armed group in Edo State.
In a statement signed by Minority Leader, Rep. Kingsley Chinda, Minority Whip, Rep. Ali Isa JC, Deputy Minority Leader Rep. Aliyu Madaki, and other leaders of the caucus on Saturday, the caucus described the attack as “barbaric” and “reprehensible,” warning that if such violence is not curbed, it could threaten national peace and unity.
“We find such brutal killings of innocent Nigerians in any part of the country by lawless mobs very reprehensible, and if allowed to fester without being put in check by responsible organs of the federal government, such actions could threaten the peace and unity of the country,” the statement read.
The lawmakers urged Nigerians to avoid taking the law into their own hands and instead seek the intervention of law enforcement agencies when faced with security concerns.
The Minority Caucus called for swift action, and urged President Bola Ahmed Tinubu to direct security agencies to investigate the incident and ensure those responsible are brought to justice.
“We implore all Nigerians to never resort to such jungle attacks on their fellow citizens but to always implore the services of lawful authorities whenever they notice any issue of concern.
“In the face of this grave incident, which is already setting emotions on edge in parts of the country, we hereby call on the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Senator Bola Ahmed Tinubu, GCFR, to direct the security agencies to investigate this matter and bring all those involved in the killings to book in order to prevent its recurrence. And also adequate compensation should be paid to the affected families,” they demanded.
The caucus also appealed to Nigerians to remain calm and allow the government to handle the matter.
“We also call on all Nigerians to remain calm, peaceful, and law-abiding and allow the federal and state governments to get to the root of this matter in the interest of justice,” the caucus stated.
The lawmakers extended their condolences to the families of the victims, and assured Nigerians of their commitment to ensuring justice is served.
“We express our sincere sympathies and condolences to the families of the victims even as we assure them and all Nigerians that we, the Minority Caucus of the House of Representatives, will remain eternally vigilant until justice is done on this matter,” the statement continued.
News
Police ‘rescue’ landlord, daughter from k!dnappers clutches in Lagos

By Kayode Sanni-Arewa
Suspected gunmen abducted a landlord and his daughter in the Ijede area of Ikorodu in Lagos.
In a statement on Sunday, Benjamin Hundeyin, the Lagos police spokesperson, said the kidnappers abducted the victims on Wednesday.
Hundeyin added that on Saturday, the command rescued the kidnapped victims unhurt and handed them over to their family members.
According to the police spokesperson, the command has launched a manhunt for the perpetrators.
“The police received information that some kidnappers invaded Ijede community and kidnapped two persons,” the statement reads.
“Upon receipt of the report, police operatives were mobilised to the scene where it was observed that the kidnappers forcefully gained entrance into the house of a 40-year-old man, killed the security dog and kidnapped him.
“The kidnappers equally forced their way into the nearby house and kidnapped the landlord’s 25-year-old daughter.
“With the collaborative efforts of both the police joint task force and other stakeholders, the kidnapped victims were rescued unhurt and handed over to their family members.
“The area is relatively calm and being closely monitored, and efforts are ongoing to apprehend the wanted suspects.”
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