Abuja — A bill seeking to grant Nigerian citizenship to foreign investors has passed its second reading in the House of Representatives. The proposed law aims to amend the 1999 Constitution to allow foreign nationals to acquire citizenship if they invest in Nigeria above a specified financial threshold or in key sectors of the economy.
The bill, sponsored by Deputy Speaker Benjamin Kalu and other lawmakers, was presented for its second hearing by House Leader Professor Julius Ihonvbere. Lawmakers supporting the bill argue that it will attract much-needed foreign investments and boost Nigeria’s economic growth.
House Provisions and Economic Impact
The bill proposes that foreign investors who meet the set investment criteria can apply for Nigerian citizenship. It is part of broader constitutional amendments aimed at economic development and fostering international investment partnerships.
In addition to the citizenship-by-investment bill, the House also advanced other constitutional amendments, including:
– Indigene Status Bill: This proposes granting indigene status to individuals who have lived in a state for at least 10 years or by reason of marriage. Women married to men from another state for at least five years will also be eligible for indigene status.
– Death Penalty Law Reform: This bill seeks to review the punishment for capital offenses to align with international human rights standards. It aims to balance public safety with fairness and proportionality in Nigeria’s criminal justice system.
With the passage of these bills through the second reading, they will proceed to committee reviews, where lawmakers will further debate and refine their provisions before a final vote.
The proposed citizenship-by-investment law has sparked mixed reactions, with some supporting its potential economic benefits, while others raise concerns about national security and eligibility criteria.
If passed into law, Nigeria will join countries that offer citizenship through investment as a strategy for economic growth and foreign capital inflow.
