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CAC Concludes Registration of NNPC Limited

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NNPC profit 44 years

By Aduragbemi Omiyale

The registration of Nigerian National Petroleum Company (NNPC) Limited by the Corporate Affairs Commission (CAC) has been completed.

Recall that last week, President Muhammadu Buhari had directed the Group Managing Director of the agency, Mr Mele Kyari, to begin the process of incorporating the organisation in accordance with the provisions of the Petroleum Industry Act (PIA) he signed into law on August 16, 2021.

Section 53(1) of the law mandated the Minister of Petroleum Resources, who incidentally is Mr Buhari, to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the company.

Speaking at the quarterly meeting of Heads of Agencies in the Federal Ministry of Industry Trade and Investment in Abuja on Tuesday, the Registrar-General of CAC, Mr Garba Abubakar, announced that the registration was concluded the same day after fulfilling all requirements set for the incorporation of the firm.

Mr Abubakar, while updating the gathering on the digitisation of the trademark and patent registry, which was being pursued by the CAC in a bid to ensure synergy and eliminate amongst others possible conflicts, said the project was awaiting clearance from NITDA which was studying the statement of requirement submitted to it.

On the free federal government-sponsored 250,000 business names registration, the Registrar-General said despite suffering a delay from one of the selected aggregators, the commission had less than 3,000 applications to wind up the project and, therefore, gave a commitment to ensure completion by the first week of October 2021.

Declaring open the meeting earlier, the Minister of Industry Trade and Investment, Mr Niyi Adebayo, said the event was being held quarterly to asses amongst others the journey so far, challenges and way forward for the agencies under the ministry’s purview.

Mr Adebayo, therefore, charged the agencies to ensure more commitment and dedication to service for the overall growth of the economy.

In her remark, the Minister of State for Industry, Trade and Investment, Ms Maryam Katagum, gave an update on the implementation of the Covid-19 Survival Fund which she described as a tough and challenging experience but said the programme was a huge success and was due for wind up soon.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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Senate Passes Electoral Act Amendment Bill, Blocks Electronic Transmission of Results

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Godswill akpabio Senate President

By Modupe Gbadeyanka

The Senate on Wednesday passed the bill to amend the Electoral Act of 2022 after delays, which almost pitched the institution against several Nigerians.

Last week, the upper chamber of the National Assembly headed by the Senate President, Mr Godswill Akpabio, set up a panel to look into the matter, with the directive to submit its report yesterday, Tuesday, February 3, 2026.

However, after the report was submitted yesterday, the red chamber of the parliament said it was going to take an action on it on Wednesday.

At the midweek plenary, the Senate eventually passed the Bill for an Act to Repeal the Electoral Act No. 13, 2022 and Enact the Electoral Act, 2025.

However, some critical clauses were rejected, including the proposed amendment to make is mandatory for the Independent National Electoral Commission (INEC) to transmission election results electronically from polling units to the INEC Result Viewing (IReV) portal.

The clause was to strengthen transparency and reduce electoral malpractice through technology-driven result management.

It also rejected a proposed amendment under Clause 47 that would have allowed voters to present electronically-generated voter identification, including a downloadable voter card with a unique QR code, as a valid means of accreditation.

The Senate voted to retain the existing 2022 provisions requiring voters to present their Permanent Voter’s Card (PVC) for accreditation at polling units, and upheld the provision mandating the use of the Bimodal Voter Accreditation System (BVAS) or any other technological device prescribed by the electoral umpire for voter verification and authentication, rather than allowing alternative digital identification methods as proposed in the new bill.

The Senate also reduced the notice of election from 360 days to 180 days, with the timeline for publishing list of candidates by INEC dropped from 150 days to 60 days.

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Amupitan Says 2027 Elections Timetable Ready Despite Electoral Act Delay

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Incorruptible INEC Chairman

By Adedapo Adesanya

The Independent National Electoral Commission (INEC) has completed its timetable and schedule of activities for the 2027 general election, despite pending amendments to the Electoral Act by the National Assembly.

INEC Chairman, Mr Joash Amupitan, disclosed this on Wednesday in Abuja during a consultative meeting with civil society organisations.

Mr Amupitan said the commission had already submitted its recommendations and proposed changes to lawmakers, noting that aspects of the election calendar might still be adjusted depending on when the amended Electoral Act is passed.

He, however, stressed that the electoral umpire must continue preparations using the existing legal framework pending the conclusion of the legislative process and presidential assent to the revised law.

According to him, the commission cannot delay critical preparatory activities given the scale and complexity involved in conducting nationwide elections.

The development highlights INEC’s commitment to early planning for the 2027 polls, even as stakeholders await legislative clarity that could shape parts of the electoral process.

Yesterday, the Senate again failed to conclude deliberations on the proposed amendment to the Electoral Act after several hours in a closed-door executive session. The closed session lasted about five hours.

Lawmakers dissolved into the executive session shortly after plenary commenced, to consider the report of an ad hoc committee set up to harmonise senators’ inputs on the Electoral Act Amendment Bill.

When plenary resumed, the Senate President, Mr Godswill Akpabio, did not disclose details of the discussions on the bill.

Despite repeated executive sessions, the upper chamber has yet to pass the bill, marking the third unsuccessful attempt in two weeks.

The Senate, however, said it will not rush the bill, citing the volume of post-election litigation after the 2023 polls and the need for careful legislative scrutiny.

Last week, the red chamber of the federal parliament constituted a seven-member ad hoc committee after an earlier three-hour executive session to further scrutinise the proposed amendments.

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REA Expects Further $1.1bn Investment for New Mini Power Grids

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Mini Power Grids

By Adedapo Adesanya

The Managing Director of the Rural Electrification Agency, (REA), Mr Abba Aliyu, is poised to attract an estimated $1.1 billion in additional private-sector investment to further achieve the agency’s targets.

He said that the organisation has received a $750 million funding in 2024 through the World Bank funded Distributed Access through Renewable Energy Scale-up (DARES) project.

He added that this capital is specifically intended to act as a springboard to attract an estimated $1.1 billion in additional private-sector investment, with the ultimate goal of providing electricity access to roughly 17.5 million Nigerians through 1,350 new mini grids.

Mr Aliyu also said that the Nigeria Electrification Project (NEP) has already led to the electrification of 1.1 million households across more than 200 mini grids and the delivery of hybrid power solutions to 15 federal institutions.

According to a statement, this followed Mr Aliyu’s high-level inspection of Vsolaris facilities in Lagos, adding that the visit also served as a platform for the REA to highlight its decentralized electrification strategy, which relies on partnering with firms capable of managing local assembly and highefficiency project execution.

The federal government, through the REA, underscored the critical role the partnership with the private sector plays in achieving Nigeria’s ambitious off-grid energy targets and ending energy poverty.

Mr Aliyu emphasized that while public funds serve as a catalyst, the long-term sustainability of Nigeria’s power sector rests on credible private developers who are willing to invest their own resources.

He noted that public funds are intentionally deployed as catalytic grants to ensure that the private sector maintains skin in the game which he believes is the only way to guarantee true accountability and the survival of these projects over time.

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