A bill seeking to amend the 1999 Constitution to include Citizenship by Investment as a new category of Nigerian nationality has passed its second reading in the House of Representatives.
Sponsored by Deputy Speaker Benjamin Kaluj and other lawmakers, the bill proposes granting Nigerian citizenship to foreign investors who meet certain financial thresholds in sectors critical to national development. Lawmakers believe this initiative will attract Foreign Direct Investment (FDI) and boost economic growth.
In addition to the Citizenship by Investment Bill, the House deliberated on other constitutional amendments, including the Indigene Status Bill. This proposed law seeks to grant indigene status to individuals based on birth, prolonged residence (at least 10 years), or marriage. The bill aims to address discrimination against long-term residents and integrate them fully into local communities.
Another significant amendment under review is the death penalty law, which aims to align Nigeria’s capital punishment policies with international human rights standards. Lawmakers argue that reforming capital punishment laws will enhance fairness and proportionality in the justice system.
Additionally, a bill proposing the separation of the Office of the Accountant-General of the Federation from that of the Federal Government was discussed. If passed, the Accountant-General of the Federal Government will serve a renewable four-year term, with a mandatory retirement age of 60 years or 35 years in public service.
While proponents of the Citizenship by Investment Bill highlight its economic benefits, civil society organizations (CSOs) have raised concerns about potential abuse and lack of transparency in the implementation process. Critics warn that without stringent regulatory frameworks, the policy could be exploited for illicit financial activities or political favoritism.
As these constitutional amendments progress, public debate is expected to intensify over their implications for governance, economic development, and national security.
