Senate Passes Insurance Reform Bill, Advances Food Safety Legislation
Senate Passes Insurance Reform Bill, Advances Food Safety Legislation
Senate Passes Insurance Reform Bill, Advances Food Safety Legislation
The Nigerian Senate has passed the National Insurance Regulatory Commission (Repeal and Enactment) Bill, 2026 for third reading, marking a significant step toward strengthening the country’s insurance regulatory framework.
The bill was passed during Tuesday’s plenary after lawmakers considered and adopted the report of the Senate Committee on Banking, Insurance and Other Financial Institutions, followed by a clause-by-clause review of the proposed legislation.
The Senate also passed for second reading the Food, Medical Products and Other Regulated Products Bill, 2026, which seeks to repeal the Food, Drug and Related Products (Registration, Etc.) Act, 2004 and establish a single, comprehensive legal framework for regulating food, medical products and other regulated goods in Nigeria.
The proposed legislation aims to enhance public health, strengthen consumer protection, promote local manufacturing, improve regulatory efficiency and align Nigeria’s regulatory system with international best practices.
Lawmakers extensively debated the general principles of the bill before approving it for further legislative consideration.
Speaking during the debate, Deputy Senate President, Senator Barau I. Jibrin, commended the sponsor of the bill, Senator Umar Sadiq Suleiman, for leveraging his professional background as a pharmacist to champion reforms in Nigeria’s food and drug regulatory system.
Senator Barau also praised the sponsor for engaging key stakeholders, including the National Agency for Food and Drug Administration and Control (NAFDAC), to ensure the proposed legislation reflects global best practices.
In addition, the Senate passed for third reading two concurrence bills transmitted by the House of Representatives.
The approved bills include the Federal College of Education, Dengi-Kanam (Establishment) Bill, 2026, which seeks to establish a Federal College of Education in Plateau State, and the University Teaching Hospitals (Reconstitution of Boards, Etc.) (Amendment) Bill, 2026, providing for the establishment of the Federal University Teaching Hospital, Erawha Owhe, Isoko North Local Government Area of Delta State.
The passage of the bills underscores the Senate’s ongoing efforts to strengthen key sectors, including healthcare, education, consumer protection and financial regulation, through legislative reforms aimed at supporting national development.
Senate Passes Insurance Reform Bill, Advances Food Safety Legislation
