President Muhammadu Buhari has written to the Senate, seeking the consideration and passage of the 2021 Finance bill which is expected to guide the implementation of the 2022 budget.
In a letter addressed to the President of the Senate, Senator Ahmad Lawan, and read during plenary on Tuesday, President Buhari said that the bill when passed will help support the 2022 budget of Economic growth and sustainability that is presently before the National Assembly, awaiting passage.
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According to President Buhari, the bill will also help to carry out some radical reforms in the finances of the government.
While the cover letter was titled ‘Transmission of the Finance Bill 2020 to the National Assembly for Consideration and Passage into Law in Support of the 2021 Budget,’ the bill proposes various amendments to existing tax laws and financial regulations in response to the negative impact of the COVID-19 pandemic on the economy and the current recession.