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Gbajabiamila assures speedy passage of Finance bill, says its critical to 2021 budget
The Speaker of the House of Representatives, Rep. 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.
“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.”
Gbajabiamila added that the public hearing provided an opportunity for a broad-based discussion on the bill, urging full participation from major stakeholders.
He spoke further, “This public hearing moves us closer to that laudable objective by providing an opportunity for citizens and legislators to jointly consider the contents of the Bill.
“It is expected that over the course of this public hearing, citizens will advance ideas and make recommendations that will improve the quality of the legislation and ensure the varied interests and considerations of all Nigerians are taken into view before final enactment into law of this essential legislation”.
In her presentation, 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.
However, she said the 2020 proposal dealt largely with taxation and tax administration.
“There are four major priority reforms that are in this bill.
The first is the reform in the Customs and Excise Tariff Act, which is the proposal to provide fiscal support for mass transit by reviewing import duties and levies downwards.
“Second is the reform in Stamp Duty Act which is not to remove the tax but change it to a new legislation to conform with present times”.
The third major reform, according to her, is the alignment of the Company Income Tax and the Capital Gains Tax rates, aimed at eliminating the current abuse the two are being subjected to.
She also said the bill sought to address the federal issue of division of taxation power so that opportunities would no longer be lost as presently being experienced.
Earlier in his opening remarks, the Chairman, House Committee on Finance, Rep. James Faleke, said the proposed amendments to 18 tax-related and dividend laws were in line with the Legislative Agenda of the 9th House.
“The 9th House of Representatives in its legislative Agenda clearly identified as priority to “Conduct a review of all Federal tax laws to encourage investment; to incentivize enterprise; ensure fairness and curb tax avoidance and evasion through the use of ICT in tax collection and administration.
“As encapsulated in the 9th House of Representatives Legislative Agenda, the priority economic strategic goals for the House of Representatives include: creation of an inclusive, thriving and resilient economy for Nigerians, attainment of substantive reduction in the percentage of poor and unemployed Nigerians,” Faleke told the session.
The President of the Senate, Senator Godswill Akpabio has commended Senator Basheer Lado, for redefining the Office of the Special Adviser to the President on Senate Matters, stating that, for the first time in a long while, the office is fully meeting its expectations.
Speaking during his visit to the office of the Special Adviser to the President on Senate Matters accompanied by distinguished senators, Akpabio described the visit as a significant step in strengthening Executive-Legislative relations.
He praised the Special Adviser and his team for maintaining the confidentiality of communications between the President and Senate, and also, ensuring a seamless flow of information. He further emphasized that the office is now more result-oriented.
Additionally, he acknowledged the office’s diligent efforts in tracking all Bills passed by the Senate and assented to by the President, underscoring its critical role in legislative efficiency.
Expressing his satisfaction, Akpabio noted that he and the Senate delegation were proud of the office’s achievements and looked forward to sustaining the existing cordial and productive relationship between the Executive and the Legislature throughout the administration.
In recognition of his exemplary leadership, Senator Lado presented an Award of Excellence to Senator Akpabio.
In his remarks, Senator Lado reaffirmed his commitment to fostering a harmonious working relationship between the Executive and the Legislature. He lauded Akpabio for his unwavering dedication to President Bola Ahmed Tinubu’s Renewed Hope Agenda—defending it with clarity, articulating it with passion, and advancing it through legislative action.
Ahead of the 2025 political party Congresses, Plateau State Chapter of the Labour Party (LP) stakeholders has endorsed the defection of the candidate of the party in the 2023 general elections and the leader of Justice and Rebirth, Barr Gyang Zi SAN, to the All Progressive Congress (APC) with the view to key into the Renewed Hope Agenda of President Bola Tinubu.
They made the call in a communique issued at the end of the enlarge meeting of the stakeholders from Plateau North senatorial zone at the residence of Barr. Gyang Zi in Rayfield Jos.
The communique which was jointly signed by Dr. Ayiki Sati Director General, Justice and Rebirth and
Barr. Samuel Galadima- 2024 Chairmanship candidate of Jos East LGA among others said the call became imperative on the sideline of the leadership tussle at the National Level which violates the core principles and values for the formation of the Party as an alternative for Nigeria for the protection, sustenance of democracy and Social Justice.
They regretted that the leadership tussle has also divided the party into factions leaving party loyalists and supporters in the state of despondency and confusion not knowing where they belong.
Our correspondent reports that the gathering included LP candidates from the 2023/2024 general elections, party executives, and support groups from the six local government areas of the Northern Senatorial District.
Besides, the focus of the discussions was centered on the state of the Labour Party at both national and state levels and the need for political realignment ahead of the 2025 party congresses and conventions.
The stakeholders further frowned at the structural weaknesses in LP and resolved to advise Barr Gyang Zi, to leave the party and join the APC while expressing confidence that the APC would provide him with a platform to advance good governance in the state .
The communique also emphasized the importance of political consultations, particularly with APC leaders at both state and national levels. It called for collaboration with Plateau State APC leaders, including Minister of Humanitarian Affairs Prof. Nentawe Yilwatda Goshwe, Sen. Simon Bako Lalong, Sen. Diket Plang, and other party officials.
According to the communique, supporters of Barr Gyang Zi also pledged to mobilize grassroots support for the APC, stating that their leader’s defection would strengthen the party in the state.
They urged the APC leadership to formally receive Gyang Zi and his supporters into the party, marking their official transition from the Labour Party.
Stakeholders also reiterated the need for inclusive governance, ensuring that youths, women, and less privileged individuals are sidelined in the democratic process and accordingly officially denounced their membership in the Labour Party, declaring their support for the APC.
They assured that all LP structures aligned with Gyang Zi would follow suit, shifting their loyalty to the ruling party in the state and at the National level.
Kogi State Governor, Ahmed Usman Ododo, has extended his heartfelt felicitation to President Bola Ahmed Tinubu, GCFR, on the occasion of his 73rd birthday.
Governor Ododo in statement signed by his special adviser on media, Ismaila Isah described President Tinubu as a statesman whose leadership and dedication to national development continue to inspire hope and progress across Nigeria.
He commended the President’s unwavering commitment to the Renewed Hope Agenda, which is driving economic reforms, strengthening national unity, and advancing the nation’s democratic values.
“On behalf of the government and people of Kogi State, I celebrate Mr President and our father on this special day. Your resilience, visionary leadership, and patriotism have laid a strong foundation for Nigeria’s growth. We deeply appreciate your tireless efforts in repositioning our country for sustainable development,” Governor Ododo stated.
He further reaffirmed his support for President Tinubu’s administration and prayed for continued wisdom, strength, and good health for the President as he leads Nigeria toward greater prosperity, sustainable development, peace and stability.
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