Economic Stimulus Bill 2020 In Nigeria

Nigerian national assembly on march 24 2020.

Economic stimulus bill 2020 in nigeria. B preserve the current employment status in nigeria. The house of representatives has released the emergency economic stimulus bill 2020. A provide short term relief to companies and individuals to lessen the unfavorable financial effect of low economic activities.

The bill was passed by the house of representatives the house of the. Amongst other things the bill seeks to provide temporary relief to both employers and employees. The latest in the nigerian offing is its legislative response styled the emergency economic stimulus bill 2020 the bill.

On 24 march 2020 the house of representatives introduced and passed a bill titled emergency economic stimulus bill 2020. The draft law was passed by the members of the house of representatives as a response to the covid 19 pandemic to provide aid to businesses and individuals in nigeria. House of representatives pass emergency economic stimulus bill 2020 standard by deloitte march 27 2020 no comments in a bid to alleviate the adverse financial impact of the coronavirus covid 19 or the pandemic on individuals and organizations in nigeria the house of representatives hor recently passed the emergency economic stimulus bill 2020 the bill.

Import duty waiver effective from 1 st of march 2020 to 31 st of december 2020 the act will grant waiver of import duty on medical equipment medicines personal protection equipment and other medical necessities required for the treatment and management of covid 19 disease in nigeria. Nigeria having taken a hint from other countries has proposed the passage of the emergency stimulus bill 2020 into law to absorb the looming economic impact of the pandemic on the lives of its citizens. By virtue of nigeria s bi camera.

The latest in the nigerian offing is its legislative. The import duty waiver period may be further extended by the president in exercise of his powers under the customs excise tariffs etc consolidated act. By virtue of nigeria s bi camera legislature the bill is now before the nigerian senate.

Nigeria s house of representatives also recently passed the economic stimulus bill 2020 the bill sponsored by the speaker of the federal house of representatives honourable femi gbajabiamila. Response styled the emergency economic stimulus bill 2020 the bill.