In a bid to confront the growing outbreak of coronavirus in Nigeria, the House of Representatives accelerated the passage of a bill to protect jobs and alleviate the financial burdens on Nigerians. Reps.
The Bill titled ‘Emergency Economic Stimulus Bill, 2020 was sponsored by Speaker of the House, Femi Gbajabiamila and 9 other lawmakers.
According to the speaker, the Bill seeks to provide for relief on corporate tax liability, as well as the suspension of import duty on selected goods and deferral of residential mortgage obligations to the Federal Mortgage Bank of Nigeria for the fixed term.
The purpose of the Bill is a response to the economic downturn occasioned by the outbreak of the COVID-19 disease, and is a short term relief mechanism to combat the virus, added Gbajabiamila.
The Bill contains a clause that makes it non-existent in December 2020. Gbajabiamila also stressed that the Bill will allow individuals and organisations import coronavirus relief materials without thinking of the cost implications.
Leader of the House, Ado Doguwa added that the Bill will provide a needed base that addresses key issues, as well as grant provisions for key industry to run. Reps.
The House has given a grace period of sixty days for assent.
The National Assembly subsequently resolved to suspend all it’s activities for 14 days and ban all travel by members of the House.