Nigeria’s National Assembly has faced sharp criticism over its legislative progress in the first year of the 10th assembly, with a significant portion of the bills being recycled from previous sessions. The report, released by the parliamentary monitoring group, Orderpaper, has raised concerns about the slow passage of bills and a lack of fresh legislative initiatives.
In a statement by Oke Epia, Executive Director of Orderpaper, the group revealed that over half of the bills sponsored in the Senate between June 2023 and May 2024 were recycled from previous assemblies, particularly the Ninth Assembly. Epia noted that the legislative body witnessed an influx of proposed bills, but a slow rate of progression. The report highlights what Epia referred to as “copy-pasting” practices, sparking worries about possible commercialization of the legislative process.
Legislative Stagnation and Recycled Bills
The findings presented by Orderpaper show that from June 2023 to May 2024, the Senate introduced 475 bills. However, only 19 bills had been passed, with 416 still stuck at the second reading stage. The House of Representatives faced a similar issue, introducing 1,175 bills in the same period but passing just 58. A staggering 967 bills in the House remain in limbo, waiting for further action.
The trend of recycling bills was also prominent in the House, where nearly a third of the proposals were resurrected from previous sessions. This pattern has raised questions about the efficiency and originality of the legislative process, with many commentators criticizing the assembly’s inability to progress meaningful legislation.
Low Participation from Lawmakers
The report also highlighted the lack of legislative activity from several lawmakers. In the Senate, 15 senators did not sponsor a single bill in the past year. The situation in the House of Representatives was similarly concerning, with 149 members, representing 12.6% of the total, not sponsoring any bills. Notably, 62% of these inactive representatives were first-time lawmakers, raising questions about their readiness to engage in legislative duties.
Lack of Focus on Key National Issues
The performance report revealed a troubling lack of attention to pressing national issues. Bills related to agriculture and food security constituted only 5.8% of the total bills in the House of Representatives and 7.3% in the Senate. In contrast, security-related bills made up 7.2% of the House’s total and just 5.4% in the Senate.
This lack of focus on critical sectors has been a point of contention, as Nigeria continues to grapple with food security and security challenges. Despite these pressing concerns, many bills addressing these vital issues have not progressed beyond the first reading.
Epia commented on the situation, stating, “The surge in bill submissions by lawmakers and slow progress in processing underscored a real challenge the National Assembly had been grappling with over the years: getting bills through to the legislative finish line.”
SEC Targets Youths with Crypto Exchanges
In a separate development, the Securities and Exchange Commission (SEC) has announced that the recent approval-in-principle granted to two crypto exchanges will help attract more youths to Nigeria’s capital market. This initiative aligns with the government’s aim to engage the country’s youth and increase their participation in the financial sector.
Speaking at a meeting in Abuja, SEC Director General Dr. Emomotimi Agama emphasized the importance of youth involvement in the capital market. “It became important to create a structure that would enhance the participation of the youths and other Nigerians in the market,” Agama said, referencing President Bola Ahmed Tinubu’s focus on youth engagement.
The SEC’s programme, focused on digital assets exchanges, is a result of its Virtual Assets Service Providers (VASPs) regulation, which aims to establish a framework for crypto exchanges and virtual financial assets. Agama assured investors that the commission is taking cautious steps to safeguard investments and ensure that Nigeria remains at the forefront of global financial innovation.
The SEC’s push for digital assets aligns with its broader goal of creating an inclusive financial system that enables all Nigerians, especially young people, to participate in the capital market. By embracing virtual financial assets, the commission hopes to secure Nigeria’s position as a leader in fintech and blockchain innovation.
