COVER
Tempers Flare in NASS over Endless Terrorists’ Activities

.Lawmakers Angry with Gov’t for Failure to Guarantee Security
. Citizens should Bear Arms-Majority Leader
.Monguno should be Sacked-Chief Whip
By Ubong Ukpong, Abuja
Tempers rose in the House of Representatives yesterday as lawmakers of both the ruling All Progressives Congress (APC) and those of the main opposition party, the Peoples Democratic Party, (PDP) berated the administration of President Muhammadu Buhari, over the persistent insecurity in the country, calling for citizens to defy the law and take up arms in self-defence.
The lawmakers were provoked by a motion of urgent public importance brought before the House by Hon Shehu Balarabe, who complained of the level of killings and unresisted attacks in his Giwa/ Birnon Gwari, Constituency of Kaduna state.
The lawmaker had enumerated that just between March 24 and 28 alone, 117 people have been killed, 130 abducted and 10, 000 displaced following the activities of terrorists in Kaduna state.
His complain is coming few days after the terrorists attacked Kaduna International Airport and the rail line killing and injuring several person, and taking several others into captivity.
Angered by these recurring attacks that have been left unaddressed, members took turn to speak, condemning the government of the day for its helplessness in addressing terrorists attacks on the country since it took power in 2015.
Key among the contributors on the floor was the Majority Leader Alhassan Addo Doguwa, who is seen as the defender of the APC and the federal government in the House.
Doguwa, was seen for the first time, to have come under strong emotion over the ongoing afflictions of the Nigerian people, when he openly called on citizens to take up arms in self-defence, against the terrorists.
“Mr. Speaker, I arise to speak in the capacity of the Majority Leader who of course is the Ambassador of government on this floor. You can see how this Chamber is thrown into disquiet, how this motion is thrown into emotionally disturbed manner; so emotional by the statements of the mover of the motion.
“When you have a government in place, the major responsibility of that government, especially a democratic one which was elected by the people is to ensure safety of lives and property of the innocent citizens.
“Mr Speaker, when things like this continue on daily basis those of us who are representatives of the government we become speechless. We become speechless here to defend actions by government.
“This is an elected government, under a popular democracy but we continue day in, day out, killings, massacre, armed robbery all over; left, right and centre.
“This is a report from just one local government out of the 774, Giwa local government and the case of Giwa is not just a new case, he is only giving us the most recent happening.
“Giwa has been engulfed by bandits, killings in the last two, three years and Giwa has fallen coincidentally in a state; Kaduna where you have the representation of the Nigerian military and other security agencies, the highest place you can count in the Northern part of the country, why should this thing continue to happen?
“I think government and officials of government, not even the security agencies, security agencies are under democratic authorities. Government in this case has to rise up to its responsibility, call a spade, a spade.
“If it is about funding, each of us here knows we have never have any cause to contemplate funding our security agencies. I believe our relevant Committees are following up in terms of implementation of such fundings through our budget, their oversight processes.
“Why should things continue this way? We are here for the Nigerian people and we must speak for Nigerian people. We cannot sit down here and fold our arms, people who elected us are beng killed by the day.
“I think if there is any other thing, I should add to this motion, Mr. Speaker with due respect to our institutions, on account of this instutional failure, regimental failure on the part of our security agencies because you have just no cause to raise excuse.
“Funding is provided, here we are now as an institution, we have now sent invitation, come and meet with the people of Nigeria, come and interface with us. Let’s see how we can put heads together and address some of these perennial problems. At the end of the day, right from head to top; the IG, every one of them sent a representative. This is a matter that is beyond a mere representative. Every commanding officer of security agency owes Nigeria a duty to come and honour the call of the parliament.
“I’m not trying to preempt Mr Speaker, the actions and the good intentions of the Committee set by this honourable House but security agencies they have to stand up. With all sense of responsibilities, I think Nigerians should this moment, should be allowed to also take arms. Nigerians must be allowed to take up arms in defence of their innocent souls, defend their hard earned properties because it is like a monumental failure, if the agencies of security have failed, then Nigerians should not be seen as failure.
“Let Nigerians organise themselves in the way of civil defence. Let’s organise defence for their innocent souls. Because if the responsibility of the government cannot be carried out democratically, then everyone has the cause to defend himself. Nigerians should no longer be running away from attacks, unnecessary bandits”, the Leader of the ruling party stated.
The Chief Whip, Hon Tahir Monguno, who is also of the APC, said government had the responsibility in law to protect lived and property.
Monguno, who spoke very frankly as a lawyer, said, “a government that fails to guarantee the protection of lives and property of citizens, that government is not supposed to last longer than necessary.”
For Hon Aminu Suleiman, the House should shut down the Chamber in protest of the persistent insecurity until the President finds solutions to the situation.
Hon Ahmed Haha, said they were in doubt of the kind of military operations that were going on in the country upon all the billions of naira pumped into security.
Haha said there was no need to continue to give this military people money anymore as they were unable to justify l their allocations.
Majority of the lawmakers who spoke favoured the call for the sack of the National Security Adviser (NSA), whom they said had been on the saddle all these years, without looking for solutions to the bedeviling Insecurity.
They also demand the sack of the Service Chiefs, newly appointed by President Buhari, at the wake of rising attacks by terrorists, which the sack of their predecessors were also demanded by the House, leading to their eventful replacement with the current Service chiefs.
Tahir Monguno had also accused the House Committee on National Security and Intelligence of irresponsibility to duty, which enabled these agencies to feel relaxed in providing security.
Particularly, the Committee Chairman, Sha’aban Sharada, was alleged to have been missing in action in handling that committee, which the Speaker Femi Gbajabiamila, was said to have noticed but could not change him because of his closeness to President Buhari and the villa.
The Deputy Speaker, Idris Wase, who presided, said they would carryout their investigations and not spare anyone found culpable in the discharge of duties nothing the House and the executive arm.
Ruling on the motion, he said, “honestly, because of the enormousness of what has happened, we should call it a day. In few days, you lose over 150 citizens in one location, it means a lot”, bringing proceedings at the plenary to an abrupt end.
COVER
Nigeria’s Capital Market Key to Achieving $1trn Economy – FG

By Tony Obiechina, Abuja
Minister of Finance and Coordinating Minister of the Economy Wale Edun has emphasized the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a $1 trillion economy.Edun, who spoke at the Capital Market Committee (CMC) meeting, was represented by Minister of State for Finance; Dr.
Doris Uzoka-Anite highlighted the market’s transformation since 2015, with improvements in governance structures, new products and platforms, stronger regulatory environment, and growing investor participation. According to the Minister, the Implementation of the Capital Market Master Plan (2015-2025), has been instrumental in increasing the market’s contribution to the national economy, developing a sophisticated market structure, and improving competitiveness.Edun said the revised plan prioritizes digitalization, innovation, sustainability, inclusion, and capital formation, aligning with the broader economic reform agenda.He said the passage of the new act modernizes the legal and regulatory framework, streamlines enforcement mechanisms, and provides clarity on emerging areas such as digital assets and crowdfunding.On the challenges and opportunities inherent in the Act, the Minister said, it will help deepen market participation, as well as ensure regulatory coordination remains tight.On the government’s private sector innovation in creating the needed environment for businesses to thrive, the Minister noted that the government is committed to creating an enabling environment for private sector innovation to flourish within a fair and transparent environment.The Minister added that the market is expected to contribute to the economy, serving not only for capital raising but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience.He explained that, with the Securities and Exchange Commission undertaking regulatory reforms, including joining the GBMC Network of IOSCO in promoting and implementing ISSB Standards amongst others, the domestic economy has recorded the fastest GDP growth in about a decade in 2024, driven by a strong fourth quarter and improved fiscal position.Earlier in his speech, the DG SEC, Dr. Emomotimi Agama, emphasized the Commission’s commitment to regulatory reforms and capital market growth.According to him the enactment of the Investment and Securities Act (ISA) 2025 marks the beginning of a transformative new era for the capital market.Agama highlighted the Commission’s efforts to deepen engagement with stakeholders, ensure widespread dissemination and understanding of the new law, and drive innovation and compliance.He also emphasized the importance of restoring investor confidence, bringing timely relief to aggrieved investors, and creating a platform for broad-based participation of Nigerians in wealth creation.The SEC boss noted that the Commission has constituted an implementation team to thoroughly engage with every provision of the ISA 2025 and set up a dedicated sensitization team to deepen public understanding of the new law. A podcast series has also been launched to simplify the ISA 2025 and make it accessible to all Nigerians.Agama highlighted the Nigerian capital market’s impressive performance in 2024, with the NGX All-Share Index increasing by 37.65% and market capitalization growing by 53.39%. He also noted the Commission’s efforts to enhance regulatory efficiency, promote market integrity, and protect investors.The SEC boss emphasized the importance of financial inclusion and investor education, citing the Commission’s initiatives to empower women, youth, and grassroots communities. He also highlighted the Commission’s commitment to technology-driven solutions, including the launch of an e-survey to assess emerging technology adoption in the Nigerian capital market.Agama concluded by emphasizing the Commission’s commitment to fostering growth, transparency, and sustainability in the capital market, and looking forward to fruitful deliberations at the meeting.The highlight of the CMC meeting was the unveiling of the ISA Act 2025 by the minister.COVER
FG Boosts Internet Access, Rolls out $2bn Fibre Network

By David Torough, Abuja
The Presidency on Monday said Nigeria’s Communications and Digital Economy sector attracted $191m in foreign direct investment in Q1 2024, a nine fold increase from $22m in Q1 2023.The Minister of Communications, Innovation and Digital Economy, Bosun Tijani disclosed this during an interview for an upcoming State House documentary marking President Tinubu’s second anniversary.
Special Adviser on Information and Strategy to the President, Bayo Onanuga, revealed in a statement yesterday titled; “Investment in Digital Economy Grows Ninefold, Rollout Of $2 Bn Fibre Optic Infrastructure Begins Q4: Bosun Tijani. ”Tijani highlighted the sector’s robust workforce development, driven by the three Million Technical Talent programme and revealed plans for a $2bn initiative to deploy 90,000 kilometres of fibre optic infrastructure nationwide, starting in Q4 2025.“These foundational reforms, coupled with advancements in artificial intelligence and the startup ecosystem, have positioned Nigeria as a global leader in the digital economy,” Tijani stated.Comparing FDI inflows, he said, “In Q1 2023, the sector had about $22m; by Q1 2024, with this administration well underway, we reached $191m. The trend continued in Q2, increasing from $25m in 2023 to $114 m in 2024.”According to the minister, the 3MTT programme, launched in October 2023 to create a tech-savvy workforce, has already trained over 117,000 Nigerians in digital skills, surpassing its initial target of 30,000.“By last year, we had already moved that to over 117,000. With an additional 35,000 in training, the programme is nearing 10% of its 3 m goal. And in the rest of the time in office, we hope to reach three million,” he said.Regarding connectivity, Tijani announced that Project Bridge, focused on deploying 90,000 kilometres of fibre optic cable, will commence in the fourth quarter.“We are preparing a $2bn investment to ensure every Nigerian can access affordable, high-quality connectivity regardless of location. Increasing connectivity hubs by just 10 per cent could yield a 2.5 per cent GDP growth,” he said.Tijani celebrated Nigeria’s ranking among the world’s top 60 countries for AI readiness and developing a homegrown large language model.He also highlighted the launch of the AI Collective platform, supported by leading partners including Pierre Omidyar, Google, and Microsoft, to foster collaboration and innovation in artificial intelligence.For the first time in the country, the ministry has funded 55 academic researchers to explore technology applications in agriculture, healthcare, and education. In addition, N300m was invested in 10 startups using AI and blockchain to enhance agricultural productivity.On the Nigeria Startup House in San Francisco, an initiative targeting $5 billion in startup funding, Tijani said, “Our goal is to attract $5 billion in investments for Nigerian startups, supported by the Startup Pact and Trade Desk initiatives, which will connect local tech firms to global opportunities and government procurement.”Tijani revealed that over 500 government technologists have been trained in AI and Digital Public Infrastructure, and the groundbreaking Digital Economy Bill has passed its first reading in the National Assembly.To bridge rural connectivity gaps, the Minister projected that 7,000 telecom towers would be deployed, targeting 98 per cent nationwide coverage, adding that the Federal Executive Council had already approved the project.He described the progress on Right-of-Way issues as a game-changer for the country, revealing that 12 states in the federation have adopted zero-rated Right-of-Way policies.According to him, these efforts will support the National Broadband Plan’s goal of achieving 90% penetration by 2025, up from 48% in 2024.He projected the sector’s GDP contribution to rise from 16 per cent to 22 per cent, stating, “If a sector can increase its contribution by three to four per cent to the GDP, we’re about to see the economic growth we’ve not seen before. Technology allows us to bridge the gap between governments and the people.”Tijani said the government is not chasing quick wins. “The results we want to provide for Nigeria are long-lasting reforms that will transform our economy for generations to come”.COVER
Abbas Recommends Israel, Brazil, Vietnam Revenue Diversification Models

By David Torough, Abuja
Speaker of the House of Representatives, Hon. Abass Tajudeen, has declared that Nigeria’s heavy dependence on oil revenue would continue to leave its economy vulnerable, noting that agriculture remained the most viable alternative to achieving resilience.
Abass made the declaration in Abuja on Monday at a one day public hearing on some Bills seeking the establishment of agricultural colleges and institutions. Represented by Chief Whip of the House, Hon. Ibrahim Isiaka, the Speaker said it was within this context that the establishment and expansion of Agricultural Research Institutions across the country are not only necessary but strategically urgent.He said Nigeria should “Emulate countries like Israel, Brazil, and Vietnam that have attained a significant leap in agro development by investing substantially in research and development.”According to him, Brazil’s Embrapa, for instance, reengineered an infertile savannah into a global food hub, just as Vietnam’s targeted agricultural reforms pulled vast populations out of poverty, while Israel continues to innovate in arid-zone agriculture through technology-driven methods.Chairman of the House Committee on Agricultural and Institutions, Hon. Isiaq Abiodun Akinlade, recalled how in the 60s and 70s, the country was among the major exporters of agricultural produce such as cocoa, cotton, palm oil, and groundnuts.The lawmaker noted that Nigeria, with a population size of over 220 million and still growing, is desirous of more agricultural colleges and research institutions to help proffer solutions to issues, “namely climate change, insecurity, pest outbreaks, soil degradation, unskilled labourers, and livestock management.”