{"id":12210,"date":"2020-03-24T17:22:59","date_gmt":"2020-03-24T16:22:59","guid":{"rendered":"https:\/\/placng.org\/i\/?p=12210"},"modified":"2020-03-24T17:26:51","modified_gmt":"2020-03-24T16:26:51","slug":"house-of-representatives-passes-emergency-economic-stimulus-bill-2020","status":"publish","type":"post","link":"https:\/\/placng.org\/i\/house-of-representatives-passes-emergency-economic-stimulus-bill-2020\/","title":{"rendered":"House of Representatives Passes Emergency Economic Stimulus Bill, 2020"},"content":{"rendered":"\n<p>The House Representatives at its plenary session of Tuesday, 24 March 2020, passed the Emergency Economic Stimulus Bill, 2020 which seeks to provide relief, protect jobs and alleviate the financial burdens on citizens\u2019 in response to the outbreak of the COVID- 19 pandemic.<\/p>\n\n\n\n<p>Leading the debate on the\nBill, the Speaker of the House of Representatives, Hon. Femi Gbajabiamila (APC:\nLagos) stated that the Bill was aimed at mitigating the devastating effect of\nthe pandemic by giving tax relief to corporate bodies, providing mortgage\nsystems, suspending import duties on medical equipment, medicines and personnel\nprotective gears for the treatment of COVID-19.<\/p>\n\n\n\n<p>Hon. Gbajabiamila elaborated\non the objectives of the proposed legislation to include:<\/p>\n\n\n\n<ul><li>Providing\ntemporary relief to companies and individuals to alleviate the adverse\nfinancial consequences of a slowdown in economic activities brought on by the\noutbreak of the COVID\u2013 19 disease in Nigeria;<\/li><li>Protecting the\nemployment status of Nigerians who might otherwise become unemployed as a\nconsequence of management decision to retrench personnel in response to the\nprevailing economic realities;<\/li><li>Eliminating\nadditional fiscal bottlenecks on the importation\nof medical equipment, medicines, Personal\nProtection Equipment (PPE) and other\nsuch medical necessities as may be required for the treatment and management of\nthe Covid \u2013 19 Disease in Nigeria, to ease the burden of importation; and<\/li><li>Catering for the\ngeneral financial wellbeing of Nigerians pending the eradication of the pandemic\nand return to economic stability.<\/li><\/ul>\n\n\n\n<p>Lastly, he commended the\nefforts of the Federal Government and other stakeholders in the private sector\non initiatives and measures put in place to curtail the spread of the\nvirus.&nbsp; The Bill which was unanimously\nadopted by lawmakers was subsequently referred to the Committee of the Whole\nfor consideration where amendments were made to clauses 9 and 12 which deal with\n\u201c<em>Deferral of Payment of Mortgages under the National Housing Fund\u201d <\/em>and \u201c<em>Import\nDuty Waiver on Medicines and Medical Goods\u201d <\/em>respectively.<\/p>\n\n\n\n<p>The clauses as amended\ngrants the National Assembly powers to approve an extension of deferral of\nmortgage payments made under the National Housing Fund when requested by the\nPresident and provides a termination date for import duty waiver on medicines\nand medical goods for 30<sup>th<\/sup> June 2020 as against 31 December 2020 as\noriginally provided in the proposed Bill.<\/p>\n\n\n\n<p><strong><em><a href=\"http:\/\/placbillstrack.org\/upload\/HB835.pdf\">Click here to see a copy of the Bill<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House Representatives at its plenary session of Tuesday, 24 March 2020, passed the Emergency Economic Stimulus Bill, 2020 which seeks to provide relief, protect jobs and alleviate the financial burdens on citizens\u2019 in response to the outbreak of the COVID- 19 pandemic. Leading the debate on the Bill, the Speaker of the House of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":""},"categories":[24],"tags":[89,88],"acf":[],"author_meta":{"display_name":"PLAC","author_link":"https:\/\/placng.org\/i\/author\/olumide-adebayo\/"},"featured_img":"https:\/\/placng.org\/i\/wp-content\/uploads\/2019\/12\/House-of-assembly-300x188.jpg","coauthors":[],"tax_additional":{"categories":{"linked":["<a href=\"https:\/\/placng.org\/i\/category\/news\/\" class=\"advgb-post-tax-term\">News<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">News<\/span>"]},"tags":{"linked":["<a href=\"https:\/\/placng.org\/i\/category\/news\/\" class=\"advgb-post-tax-term\">2020<\/a>","<a href=\"https:\/\/placng.org\/i\/category\/news\/\" class=\"advgb-post-tax-term\">House of Representatives Passes Emergency Economic Stimulus Bill<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">2020<\/span>","<span class=\"advgb-post-tax-term\">House of Representatives Passes Emergency Economic Stimulus Bill<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 6 years ago","modified":"Updated 6 years ago"},"absolute_dates":{"created":"Posted on March 24, 2020","modified":"Updated on March 24, 2020"},"absolute_dates_time":{"created":"Posted on March 24, 2020 5:22 pm","modified":"Updated on March 24, 2020 5:26 pm"},"featured_img_caption":"House-of-Reps","series_order":"","_links":{"self":[{"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/posts\/12210"}],"collection":[{"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/comments?post=12210"}],"version-history":[{"count":2,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/posts\/12210\/revisions"}],"predecessor-version":[{"id":12212,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/posts\/12210\/revisions\/12212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/media\/1800"}],"wp:attachment":[{"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/media?parent=12210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/categories?post=12210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/placng.org\/i\/wp-json\/wp\/v2\/tags?post=12210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}