Aernan Lubem
Nigeria’s President, Muhammadu Buhari has forwarded the 2021 Finance bill that will guide the implementation of the 2022 appropriation to the National Assembly for passage.
In a letter addressed to Speaker Femi Gbajabiamila read at plenary on Thursday, the President said the bill is to help carry out some radical reforms in the finances of the government.
The President’s letter formally requested that the Finance Bill, 2021 be considered by the House of Representatives, for passage into law.
Buhari disclosed that the Finance Bill, 2021 seeks to support the implementation of the 2022 Federal Budget of Economic Growth and Sustainability by proposing key reforms to specific taxation, customs, and excise, fiscal and other relevant laws.
The bill is also expected to “Implement Financial Sector Reforms to support ongoing capital market reforms relating to Securities Lending Transactions, Real Estate Investment Trusts, Unit Trust Schemes and the recapitalization of Insurance Companies”
He appealed to the House to favorably consider the bill for passage into law so that it may provide fiscal support necessary for the implementation of the 2022 Federal Budget.
