Buhari urges Senate to pass Finance Bill 2021

December 8, 2021
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President Muhammadu Buhari yesterday transmitted a letter to the Senate, urging it to consider and pass the Finance (Amendment) Bill 2021.

Senate President Ahmad Lawan read the President’s letter at plenary.

President Buhari said the Finance Bill would guide the implementation of the soon-to-be passed Appropriation Act, 2022.

He added that the Bill, when passed, would help to support the “Budget of Economic Growth and Sustainability 2022” currently being considered by the National Assembly.

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According to him, the Bill will also help to carry out some radical reforms in the finances of the Federal Government.

The letter, titled: Transmission of the Finance Bill 2020 to the National Assembly for Consideration and Passage into Law in Support of the 2021 Budget, reads: “Pursuant to sections 58 and 59 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), I formally request that the Finance Bill, 2021, be considered by the Senate for passage into law.

“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, excise, fiscal and other relevant laws.

“Specifically, this Bill provides for enhancing domestic revenue mobilisation efforts to increase tax and non-tax revenues, Tax Administration and Legislative Drafting Reforms, particularly to support the ongoing automation reforms by the Federal Inland Revenue Service (FIRS).”

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