By Ubong Ukpong, Abuja

A constitutional amendment bill seeking to bar individuals above 60 years from contesting for the offices of President and Governor in Nigeria passed through second reading yesterday, in the House of Representatives.

If this bill scales legislative scrutiny and is signed into law, President Bola Tinubu, former Vice President Atiku Abubakar, and the 2023 presidential candidate of the Labour Party, Peter Obi will miss out on the 2027 presidential contest as they are all above 60 years of age.

Titled “A Bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999 to review the requirements that qualify a person to be elected as President and Vice President of the Federal Republic of Nigeria, Governors and Deputy Governor of a State of the Federal Republic of Nigeria and for Related Matters” was sponsored by Imo lawmaker, Ikenga Ugochinyere.

The bill was one of the 31 proposed legislations which scaled second reading during Thursday’s plenary session.

The bill provides that “A person shall be qualified for election to the office of the President if he has been educated up to at least university level and has earned a Bachelor’s degree in his chosen field of study.

“Section 131 of the Principal Act is amended by inserting a paragraph which reads, “That he is not more than 60 years at the time of vying for the Office of President.

“Section 177(d) of the principal Act is amended by altering the educational requirement that qualifies persons to be elected as governor as follows:

“A person shall be qualified for election to the Office of the President if he has been educated up to at least university level and has earned a Bachelor’s degree in his chosen field of study.

“That he is not more than 60 years old at the time of vying for the office of Governor.

A bill to provide statutory backing for the establishment of Alvan Ikoku Federal University of Education in Imo State also passed second reading.

The bill, sponsored by Ugochinyere, aims to elevate the institution’s status, granting it federal recognition and funding support.

The House also passed for second reading a Bill for an Act to alter the Constitution to provide for mandatory inclusion of youths and persons living with disabilities in political appointments.

This bill, also sponsored by the Imo lawmaker, seeks to promote inclusivity and representation in governance.

Similarly, the bill to move trade and commerce to the concurrent legislative list, aimed at enhancing interstate commerce, also scaled second reading during plenary.

When passed into law, the proposed legislation will empower federal and state governments to regulate trade, thus boosting economic activities between and within the two layers of government.

Also considered and approved was the Federal University of Education, Zaria (Establishment) Bill, 2025, sponsored by Speaker Abbas and Plateau lawmaker Yusuf Gagdi.

This bill aims to establish a specialised university focused on teacher education in Zaria. Other education-related bills include the establishment of Yusuf Maitama Sule Federal University of Education in Kano and the University of Nigerian Languages in Aba, among others.

Also passed for second reading is the Reserved Seats for Women in National and State Assemblies Bill, 2025, sponsored by Rep. Kafilat Ogbara.

The bill aims to promote gender inclusivity by reserving specific legislative seats for women.

The Inclusion of Youths and Persons with Disabilities in Political Appointments Bill, 2025, sponsored by Ugochinyere, also passed the second reading.

The bill aims to ensure greater participation of marginalised groups in government.

Additionally, judicial reforms are on the agenda with bills such as the Timelines for Justice Administration Bill, 2025, sponsored by Benjamin Kalu, which seeks to enhance the justice delivery system in the country.

Another proposal, “The Increase in Number of Supreme Court & Court of Appeal Justices Bill, sponsored by Bello Kaoje, calls for an expansion in the number of justices to improve the efficiency of the judiciary.

The House also deliberated on bills related to the creation of new states, with the Creation of Wan State (North Central) Bill, 2025 and the Creation of Gobir State (North West) Bill, 2025 also passing for second reading.

The bill, sponsored by Rep. Ikeagwuonu Ugochinyere, proposes amendments to the 1999 Constitution to revise eligibility requirements for these key political positions.

According to the bill, Presidential and gubernatorial candidates must not be older than 60 years at the time of contesting.

Also, candidates must hold at least a Bachelor’s degree in their chosen field of study.

The bill specifically amends Section 131 of the constitution to introduce the age limit for the presidency and Section 177 to apply the same requirement to gubernatorial candidates

In addition to the age limit bill, the House passed several other important bills for second reading, including: Alvan Ikoku Federal University of Education Bill: Sponsored by Speaker Tajudeen Abbas and Rep. Ikenga Imo Ugochinyere, this bill seeks to upgrade Alvan Ikoku College of Education in Imo State to a federal university.

Bill for the Creation of Ideato West Local Government Area  proposes the creation of an additional LGA in Imo State to enhance administrative and developmental efforts.

Bill for Mandatory Inclusion of Youths and Persons with Disabilities in Political Appointments: Sponsored by Rep. Ugochinyere, this bill aims to ensure inclusivity in governance by reserving positions for young people and persons with disabilities.

Bill to Move Trade and Commerce to the Concurrent Legislative List: Also sponsored by Rep. Ugochinyere, this bill seeks to grant both federal and state governments the power to regulate trade and commerce, boosting economic activity nationwide.

Reserved Seats for Women in National and State Assemblies Bill: Sponsored by Rep. Kafilat Ogbara, this bill aims to increase female representation in legislative bodies

Judicial Reform Bills: Timelines for Justice Administration Bill (Sponsored by Rep. Benjamin Okezie Kalu) – Seeks to expedite judicial processes.

Increase in Supreme Court & Court of Appeal Justices Bill (Sponsored by Rep. Bello Kaoje) – Proposes an increase in the number of justices to improve efficiency.

Creation of New States: Creation of Wan State (North Central) Bill, Creation of Gobir State (Northwest) Bill.

With these legislative efforts, the House aims to reshape Nigeria’s governance structure, promote youth and gender inclusion, and enhance economic and judicial efficiency.

From Attah Ede, Makurdi

The Federal Government has said it would continue to prioritize the provision of portable water to its citizenry.

It further said the rehabilitation and upgrade of Buruku/Gboko Water Supply Scheme in Benue State would address the water needs of the people of the area.

The Minister for Water Resources and Sanitation, Prof.

Joseph Terlumum Utsev said this yesterday at the groundbreaking ceremony for the rehabilitation and upgrading of Buruku/Gboko Water Supply Project at Gboko Water Treatment Plant at Ameladu.

Utsev explained that the resuscitation of the vandalized existing water works at Ameladu, Mkar in Gboko Local Government Area and Buruku Water Supply Scheme is targeted at improving the lives of the residents estimated at about 506,000 people through accessing portable water and reducing the risk of water borne diseases.

“The Water Supply Project is a critical initiative that will provide clean and safe drinking water to the people of Buruku, Gboko and their environs, noting that it is a clear demonstration of Government’s commitment to improving the lives of its citizens and providing them with the necessities of life in line with President Bola Tinubu’s Renewed Hope Agenda.

“The Buruku/Gboko Water Supply Project which was initially conceived as ‘‘Gboko-Yandev Water Supply System’’ is currently named ‘’Rehabilitation and Upgrading of Buruku /Gboko Water Supply Project’’ and is located approximately 70 to 90 kilometres south-east of Makurdi.

“Due to insufficient water supply in the Gboko-Yandev area, Benue State Government then Plateau State appointed Messrs Lahmeyer International, Consulting Engineers, Frankfurt/Main, Germany to carry out Feasibility Study and Detailed Engineering Design for the Gboko-Yandev Water Supply Project.

“The Rehabilitation and Upgrade of Buruku/Gboko Water Supply Scheme in Benue State is aimed at resuscitating the vandalized existing water works at Ameladu, Mkar in Gboko Local Government Area and Buruku Water Supply Scheme in a bid to improve the lives of the residents estimated at about 506,000 people through accessing portable water and reducing the risk of water borne diseases,” Utsev noted.

According to the Minister, the extraction of water is from the Katsina Ala river by the intake structure at the shore of the river which then shall be transported for a distance of about 17KM for purification/treatment and distribution as potable water supply to Gboko/Mkar communities as well as to neighboring communities.

He added that the Federal Government’s intervention is meant to accelerate access to clean and potable water in the country towards meeting National and internationally set targets.

“It is meant to further create jobs, stimulate economic growth, and improve the overall quality of life for our citizens.

“This project is made possible through the approval of the Federal Executive Council under the leadership of President Bola Tinubu, for the Rehabilitation and Upgrading of Buruku/Gboko Water Supply Project to Messrs Ceylon Construction Services Limited at the total contract sum of N18.8bn with a completion period of 18 months.

 “I urge you all to work towards delivering the project effectively and timely to achieve the value for efforts, time and money committed to this project,” the Minister said.

Also speaking at the occasion, the Benue State Governor, Rev. Fr. Hyacinth Alia said the resuscitation of the project which has been abandoned for decades is a demonstration and commitment to the importance the President attaches to improving the well-being of its citizens through the provision of water.

Represented by his Deputy, Sam Ode, the Governor said that his government has awarded a contract for the rehabilitation of the Katsina-Ala and Otobi water works respectively at the cost of N1.5 bn

“At Ugbema, Buruku Local government country home of the Minister, he flagged off the construction of a Mega water project which is expected to supply water to over 500,000 inhabitants, as well as the Dura Dam meant for irrigation and future hydro power generation,” Alia said.

By David Torough, Abuja

Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering significant growth across key performance indicators.

The Bank’s impressive performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry.

According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit year-on-year (YoY) growth of 86% in gross earnings, increasing from N2.

13 trillion in 2023 to N3.97 trillion in 2024. This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.

Commenting on the results, Group Managing Director/CEO, Dr Adaora Umeoji, stated; “This year’s performance underscores our unwavering commitment to innovation and customer-centric solutions. We will also remain focused on deepening financial inclusion, enhancing service delivery, and creating value for our customers and stakeholders.

Zenith Bank profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023, driven by a combination of top-line expansion and efficient treasury portfolio management.

Net interest income increased by 135% from N736 billion in 2023 to N1.7 trillion, reinforcing the Bank’s strong core banking performance and ability to grow earnings despite macroeconomic headwinds. Non-interest income also grew by 20% from N919 billion to N1.1 trillion.

The Bank’s total assets grew by 47% from N20 trillion in 2023 to N30 trillion in 2024, underpinned by a strong liquidity position and effective balance sheet management. Customer deposits surged by 45% from N15 trillion to N22 trillion in 2024, reflecting a historically strong corporate deposits portfolio and a sustained increase in retail deposits. The increase in retail deposits was driven by customer acquisition and the Bank's strategic focus on low-cost funding.

Return on Average Equity (ROAE) declined to 32.5% on the back of the injection of new capital, while Return on Average Assets (ROAA) remained unchanged at 4.1%. The Bank cost-to-income increased slightly from 36.1% to 38.9%, despite inflationary pressures. Its Non-Performing Loan (NPL) ratio stood at 4.7%, with a coverage ratio of 223%, underscoring the Bank’s prudent risk management and commitment to maintaining a resilient loan book, ensuring stability and confidence in the Bank's operations.

Given the good earnings performance, the Bank has proposed a final dividend of N4.00 per share, which brings the total dividend for the year to N5.00 per ordinary share.

In a significant milestone, Zenith Bank successfully raised N350 billion in capital through a rights issue and public offer, with a subscription rate of 160%, demonstrating strong investor confidence in the Bank’s growth trajectory. The proceeds from this capital raise will be strategically deployed to enhance technology infrastructure, strengthen liquidity, and support the Bank’s expansion into key African markets, unlocking new growth opportunities.

The bank remains focused on delivering sustainable growth, enhancing shareholder value, and driving financial inclusion through innovative banking solutions. With its solid capital base and innovative product offerings, the Bank is well-positioned to navigate evolving market conditions while continuing to strengthen its leadership in the Nigerian financial landscape.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards.

Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022, 2023 and 2024 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.

The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics.