Connect with us

News

Speaker assures of speedy passage of Finance Bill

Published

on

Speaker assures of speedy passage of Finance Bill

The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed the commitment of the House of Representatives to speedily pass the 2020 Finance Bill.

He said that the bill was critical to the success of the 2021 budget because it made provisions to support the recovery of the Nigerian economy from the impact of the COVID-19 pandemic.

President Muhammadu Buhari transmitted the bill to the National Assembly on December 1, noting that “the Finance Bill, 2020 seeks to support the implementation of the 2021 Budget by proposing key reforms to specific taxation, customs, excise, fiscal and other laws.”

Speaking at a one-day public hearing organised by the House Committee on Finance on the bill in Abuja on Friday, Gbajabiamila said that funding the budget to support economic recovery and to address other challenges were the reason the House gave immediate attention to the bill.

READ ALSO: Buhari sends Finance Bill to National Assembly for approval

“The Finance Bill which we have gathered here to consider and to contribute to, will determine amongst other things, our ability as a nation to fund the 2021 budget, meet the obligations of government and implement policies to build infrastructure, address the problem of insecurity, grow the economy, and provide jobs that pay a living wage and lift families out of poverty.

“It is an important piece of legislation, deserving of thorough consideration, and reasoned debate by the parliament of the people, acting in the best interests of the people.

“We have a responsibility as legislators to meticulously review and examine every aspect of this Bill to ensure that we produce a legislative document that is clear in its objectives, thoughtful in the mandates it imposes and reflective of the best aspirations of all our citizens,” the speaker said.

Gbajabiamila added that the public hearing provided an opportunity for a broad-based discussion on the bill, urging full participation from major stakeholders.

In her presentation at the event, the Minister of Finance, Budget and Planning, Mrs Zainab Usman, said the major reason behind the bill was to address issues that were lacking in the 2019 Finance Bill as well as deepen the innovations it had started.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now