Executive, National Assembly Deliberate On Incentives To Support Organised Private Sector – Channels Television

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The federal government needs to think creatively and come up with ways to stabilize the Nigerian economy in the face of the negative economic impact of Covid-19, House of Representatives spokeswoman Ms. Femi Gbajabiamila said.

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The speaker said that the House on Tuesday had passed the Emergency Economic Stimulus Bill, 2020 to fulfill the plans of the executive arm.

Gbajabiamila spoke at a meeting between the National Assembly's leadership and some top government officials, including Finance Minister Zainab Ahmed, Oil Prime Minister Timipre Sylva, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and other bureaucrats.

The speaker said: "You are all aware that the House of Representatives, and hopefully it will be the National Assembly, passed the Emergency Economic Stimulus Bill, 2020, which we believe will continue to complement what the executive is doing, in addressing the needs of the common man. .

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"The tax rebate, the three-month mortgage moratorium and the reduction in fees for medical devices related to coronaviruses, I'm sure the Senate may come together at some point to pass this. Although it is not yet law, it has come to the Senate, since some members of the executive arm are here to get this signed quickly into law. "

Gbajabiamila added that "The meeting is very timely and very important because we live in very unusual times, and it's time we start thinking outside the box to see how we can stabilize the economy and the direction it should take. Where the government needs to take a haircut or a hit, it certainly will, these are the sacrifices we need to make. "

While welcoming stakeholders at the meeting to consider government intervention to curb the negative economic impact of Covid-19 on the country's economy, Senate President Ahmad Lawan said the meeting was necessary because of the difficult conditions the country faces.

He said both chambers had resigned on Tuesday, but agreed to meet again at any time if there was an urgent need.

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Lawan said the meeting would discuss the proposed review of the 2020 budget in the wake of the Covid-19 pandemic.

In her remarks, Finance Minister Zainab Ahmed applauded the House for initiating and adopting the Emergency Economic Stimulus Bill, 2020.

She said: "The federal government is working on these measures to provide tax breaks for taxpayers and key economic sectors, and I am pleased with what the speaker mentioned.

“It looks like we're working the same way; We also need to look at incentives that employers can provide to retain employees so that they do not disconnect employees and also to recruit new employees during this difficult time. "

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