The Senate president, Bukola Saraki, and his House of Representatives counterpart, Yakubu Dogara, have commended President Muhammadu Buhari for signing into law the North East Development Commission, NEDC Bill.
They, in separate statements, commended the president saying his action will help revive the North-east.
Mr. Saraki, in a statement signed by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, described the presidential action as a major development in the efforts by the present administration to restore peace and normalcy in the North-east and ameliorate the harrowing experience of the people as a result of the insurgency.
“Now, that the NEDC Act has the full force and effect of the law, it is my hope that we can collectively work towards the rehabilitation, reconstruction and rebuilding of the North-east,” Mr. Saraki said.
“I believe the NEDC Act will help alleviate the suffering of the millions of Nigerians whose lives have been affected by the insurgency in the zone.
“You will recall that when I visited Maiduguri, I promised that the National Assembly will work and pass law to alleviate the suffering of the people. I thank God, Mr. President, my colleagues and members of the House of Representatives for making the promise a reality.”
In a separate statement signed by media aide to the speaker, Turaki Hassan, he hailed Mr. Buhari’s sensitivity to the plight of the highly traumatised people of the North-east.
“I expect that the expeditious coming into force of the commission will remedy the long years of underdevelopment suffered by the region. The recovery and redevelopment of the zone devastated by terrorism is expected to last decades”, Mr. Dogara said.
The NEDC establishment bill was sponsored by the Speaker in 2015. It seeks for the recovery, resettlement, and rebuilding of the violence ravaged region and the convocation of an international donor conference for total reconstruction and rebuilding of the region.
Source: ( Premium Times )
2020 Finance Bill Exempts Minimum Wage Earners From Tax: Buhari
President Muhammadu Buhari has revealed that the recently proposed 2020 Finance Bill will exempt workers earning the minimum wage from paying tax.
Buhari disclosed this on Monday in a speech delivered virtually by Vice President, Yemi Osinbajo at the opening session of the 26th Nigerian Economic Summit Group Conference themed: “Building Partnerships for Resilience.”
“We are proposing in the new Finance Act that those who earn minimum wage should be exempted from paying income tax,” he was quoted as saying in a statement issued by the Senior Special Assistant to the President on Media and Publicity, Laolu Akande.
“These provisions which complement the tax breaks given to small businesses last year will not only further stimulate the economy but are also a fulfilment of promises made to take steps to help reduce the cost of transportation and the impact of inflation on ordinary Nigerians.”
Nigeria Will Exit Recession By First Quarter Of 2021 – Finance Minister
Minister of Finance, Budget and National Planning, Zainab Ahmed has revealed that Nigeria would emerge from recession in the fourth quarter of this year or by the first quarter of 2021.
Speaking on Monday at the ongoing 26th Nigerian Economic Summit organized by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning, Zainab said the current recession would be short-lived.
She blamed COVID-19 for the current recession, saying it followed the pattern across the world where many countries had entered an economic recession.
“Nigeria is not alone in this, but I will say that Nigeria has outperformed all of these economies in terms of the record of a negative growth,” Ahmed said.
Court Remands Nigerian Senator, Ali Ndume, In Prison
Senator Ali Ndume, the lawmaker representing Borno South Senatorial district has been ordered on Monday by a federal high court to be sent to prison.
The order follows his inability to produce Abdulrasheed Maina, the former Chairman of the defunct Pension Task Team, whom he stood as surety for in his corruption and money laundering trial.
The high court, sitting in Abuja was presided over by Justice Okon Abang and ordered Senator Ndume to be remanded in Kuje correctional centre.
Justice Abang, however, gave three conditions upon which Ndume can regain his freedom namely payment of N500m bail bond into the Federation Account of the Federal Government and present evidence of such payment in court or the FG sells the property situated in Asokoro, Abuja which Ndume pledge as security for the bond and present evidence of sale and payment of the N500m realised into the Federation Account or he (Ndume) produces Maina, who is believed to have now jumped bail, in court.
Shortly after the pronouncement by the Judge, Senator Ndume was led away from the courtroom by security operatives.
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