BUHARI, ABBAS, AKUME, OTHERS AMONG AS WIKE REVOKES ALLOCATION OF 762 FCT LANDOWNERS. (PHOTO).

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 𝐁𝐮𝐡𝐚𝐫𝐢, 𝐀𝐛𝐛𝐚𝐬, 𝐀𝐤𝐮𝐦𝐞, 𝐎𝐭𝐡𝐞𝐫𝐬 𝐀𝐦𝐨𝐧𝐠 𝐚𝐬 𝐖𝐢𝐤𝐞 𝐑𝐞𝐯𝐨𝐤𝐞𝐬 𝐀𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝟕𝟔𝟐 𝐅𝐂𝐓 𝐋𝐚𝐧𝐝𝐨𝐰𝐧𝐞𝐫𝐬 Nyesom Wike, the Minister of the Federal Capital Territory, has revoked the lands allocated to several prominent Nigerians, including former President Muhammadu Buhari, Speaker of the House of Representatives Tajudeen Abbas, and Secretary to the Government of the Federation George Akume, due to non-payment of Certificate of Occupancy fees. Also, 759 other prominent figures and organisations in Maitama II, Abuja. were also affected by the revocation which was for non-payment of Certificate of Occupancy. This was contained in a publication by the FCT Administration and made available to newsmen by the Special Adviser to the FCT Minister, Lere Olayinka. In a separate publication, the minister also threatened to revoke lands belonging to the Minority Leader of the House of Representatives, Kingsley Chinda; former presidents of the Sena...
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BILL TO END EXPORTATION OF RAW MATERIALS SCALES SECOND READING IN SENATE. (PHOTO).

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 Bill to end exportation of raw materials scales second reading in Senate


A bill seeking to mandate domestic processing of at least 30 per cent of raw materials before exportation has passed its second reading in the Senate. Sponsored by Senator Nwebonyi Peter (APC, Ebonyi North), the bill aims to amend the Raw Materials Research and Development Council Act 2022, introducing provisions for local processing and production protection.


During his lead debate on Tuesday, Senator Nwebonyi highlighted the transformative potential of the bill for Nigeria’s economy. He argued that mandating local processing would boost local manufacturing industries, create jobs for Nigerians, reduce dependence on imports and the demand for foreign exchange. “Promoting local processing to a minimum of 30 percent or more will add value to our economy, particularly to our Naira. It will also encourage innovation within our local industries, leading to a significant increase in domestic production,” he said.


He further noted that the bill, if enacted, would shield Nigerian manufacturers from foreign competition by regulating the importation of raw materials that could be processed locally, fostering a favourable environment for domestic industries to thrive.

In spite of the overwhelming support, Deputy Senate Minority Leader, Sen. Lere Oyewumi, raised concerns about the bill’s practicality, particularly in sectors lacking local processing capacity. Oyewumi said, “There is a need for amendments due to the nature of some products. We assume that all these products should not be exported raw, but what about when there are no companies to process them locally?”


He warned that strict enforcement of the bill could harm local farmers who rely on export markets for raw materials. “We should avoid granting blanket approval, as farmers may incur losses if raw materials cannot be processed locally.” After deliberations, Senate President Godswill Akpabio put the bill to a voice vote where majority of lawmakers voted in favour, allowing the bill to scale its second reading.

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