The House of Representatives has advanced a bill proposing the introduction of citizenship by investment as a new category of Nigerian nationality.
The Citizenship by Investment Bill passed its second reading on Wednesday, aiming to grant Nigerian citizenship to foreign investors who meet specified financial thresholds or invest in critical sectors of the economy.
Sponsored by Deputy Speaker Benjamin Kalu and other lawmakers, the bill is designed to attract foreign direct investment by offering Nigerian nationality as an incentive.
The proposed measure aligns with global practices, where countries grant citizenship to individuals who make significant contributions to economic growth.
The bill was presented by House Leader Prof. Julius Ihonvbere, alongside other proposed constitutional amendments. These include a bill that seeks to guarantee indigene status to individuals based on birth, continuous residence of at least ten years, or marriage.
The legislation on the death penalty is also under review, with a proposed constitutional amendment to revise penalties for specific capital offences in line with international best practices.
Additionally, the Office of the Accountant-General of the Federation Bill seeks to amend the Constitution to formally establish both the Office of the Accountant-General of the Federation and the Office of the Accountant-General of the Federal Government.
