In his inaugural address on May 29, President Bola Tinubu vowed to build upon the achievements of his predecessor, former President Muhammadu Buhari. True to his word, Tinubu wasted no time and immediately set his plans in motion. Within just two weeks, he signed four bills into law, accompanied by other significant economic reforms.
Tinubu outlined several forthcoming changes that Nigerians can anticipate. This article examines the four bills that President Tinubu has assented to since the commencement of his administration, shedding light on their implementation process.
Judicial Officers Law:
On June 8, the president signed the bill titled ‘Constitution of the Federal Republic of Nigeria, 1999 (fifth alteration) (No.37), 2023’ into law. This legislation harmonizes the retirement age for judges, setting it at 70 years.
Additionally, the law ensures uniformity in the pension rights of judicial officers serving in the “superior courts of record” as specified in the amended section 6(5) of the 1999 constitution. The designated courts include the supreme court, court of appeal, federal high court, high court of Abuja, state high courts, sharia court of appeal, national industrial court, and customary courts of appeal, among others.
Electricity Act:
On June 9, President Tinubu enacted the Electricity Act, empowering states, companies, and individuals to generate, transmit, and distribute electricity. This new law repeals the Electricity and Power Sector Reform Act of 2005, consolidating the laws concerning the Nigerian Electricity Supply Industry (NESI).
Tinubu emphasized that this legislation would foster development aimed at achieving uninterrupted power supply. The act provides a comprehensive legal and institutional framework for the post-privatization phase of Nigeria’s power sector, covering areas such as generation, transmission, distribution, supply, trading, and general use of electricity. Its primary objective is to establish a privatized, contract-based, and rule-regulated competitive electricity market in Nigeria.
Moreover, the law promotes enhanced access to electricity in rural, unserved, underserved, peri-urban, and urban areas, utilizing both conventional and renewable energy sources. However, the issuance of licenses to private investors for mini-grids and power plants will not apply to inter-state or international electricity distribution.
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Student Loan Act:
On June 12, Democracy Day, President Tinubu assented to a law facilitating the provision of financial assistance to Nigerian students in tertiary institutions. This legislation enables students to access interest-free loans from the Nigerian Education Loan Fund.
The federal government has announced that it is currently developing the necessary procedures to commence loan disbursements from September onwards. The act allows students admitted to public Nigerian universities, polytechnics, colleges of education, and technical and vocational education and training (TVET) schools to apply for the loan. To qualify, a student’s or their family’s annual income must not exceed N500,000.
The legislation mandates that successful applicants repay the loan through salary deductions after completing their National Youth Service Corps (NYSC) program.
Implementation of Student Loans
The Federal Government has announced its plans to initiate the disbursement of student loans in September. David Adejo, the permanent secretary at the Federal Ministry of Education, confirmed this and stated that a committee comprising various ministries and agencies would convene on June 20 to discuss the loan disbursement process. President Tinubu has directed that loan recipients should be identified by September or October this year!
Data Protection Law:
On June 14, President Tinubu signed the data protection bill into law, leading to the establishment of the Nigeria Data Protection Commission (NDPC). This legislation empowers Nigerian citizens to seek remedies in the event of a data breach and emphasizes that personal data should be processed in a fair, lawful, and accountable manner.
