The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed the commitment of the House to speedily pass the 2020 Finance Bill. The speaker said the bill was critical to the success of the 2021 budget, as it made provisions to support the recovery of the Nigerian economy from the impact of the COVID-19 pandemic. President Muhammadu Buhari had transmitted the bill to the National Assembly on December 1.
The president’s covering letter noted partly, “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.”
Gbajabiamila, who was speaking at a one-day public hearing organised by the House Committee on Finance on the bill in Abuja on Friday, stated that funding the budget to support economic recovery and address other challenges, was the reason the House gave immediate attention to the bill.
He said: “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.