President Bola Ahmed Tinubu has declined assent to two bills recently passed by the National Assembly, citing financial risks and inconsistencies with federal fiscal policy.
Senate President Godswill Akpabio read the President’s letters on Tuesday during the Senate’s plenary session, confirming Tinubu’s decision to withhold approval for the Nigerian Institute of Transport Technology (NITT) Bill and the National Library Trust Fund (Amendment) Bill 2025.
Tinubu said the NITT bill, though well-intentioned, included provisions that could undermine fiscal discipline. The legislation empowered the institute to collect one percent of import and export freight levies — a clause the President described as “onerous and unfair to businesses.” He also objected to the provision allowing the institute to borrow up to ₦50 million without presidential consent, warning that it could “open the door to serious financial abuse.”
The President further noted that granting the non-revenue agency power to invest funds would conflict with existing fiscal management principles and set an unsustainable precedent.
In rejecting the National Library Trust Fund amendment, Tinubu pointed to conflicts with laws governing public agency funding, taxation, and civil service structure, including age and tenure rules. He said the proposal contradicted central government policies and could “create an unsustainable precedent against the public interest.”
Akpabio, in response, commended the President’s review, stating that the concerns raised were valid and would be addressed through committee reassessment.
“The President has demonstrated attention to detail and commitment to fiscal responsibility,” Akpabio said, assuring that the Senate would make necessary corrections before reconsideration.
