President Bola Tinubu has “withheld his assent” to two bills recently passed by the National Assembly, citing “major concerns over their fiscal implications, legal inconsistencies and potential conflicts with federal policies.”
The development was announced during plenary on Tuesday when the President of the Senate, Senator Godswill Akpabio, read separate correspondences from the President explaining his decision to reject the proposed laws.
The first bill rejected was the Nigerian Institute of Transport Technology (NITT) Repeal and Reenactment Bill, which sought to restructure the institute’s operations and funding.
While “commending the intent behind the legislation,” President Tinubu stated that several provisions were flawed and posed risks to “financial discipline and good governance.” Key objections included:
- Onerous Levy: A clause allowing the institute to collect “one per cent of all import and export freight charges,” which the President described as “onerous and unfair to businesses” and a contradiction of the Federal Government’s current tax policy framework.
- Financial Abuse Risk: A provision that empowers the institute to borrow up to 50 million naira without presidential approval, which President Tinubu warned could be exploited to “bypass executive oversight, leading to potential financial abuse.”
- Inappropriate Mandate: An objection to a section that authorizes the institute to invest its funds, arguing that for a non-revenue-generating agency, such a mandate was “inappropriate and out of step with the government’s fiscal management principles.”
In a separate letter, President Tinubu also declined assent to the National Library Trust Fund Establishment (Amendment) Bill, 2025.
The President cited contradictions with existing laws and government policies, stating that the proposed amendments are “inconsistent with national policies on the funding of public institutions, taxation of national entities, public service remuneration, and age and tenure limits for public servants.”
The President urged the National Assembly to revisit and revise the problematic provisions in both bills to ensure alignment with existing laws and government priorities.
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