Reps to fast-track passage of Economic Stabilisation Bill — Speaker Tajudeen

The Speaker of the House of Representatives, Abbas Tajudeen, has said the House will fast-track the passage of the Economic Stabilisation Bill once President Bola Tinubu sends it to the National Assembly.

Mr Tajudeen made this statement in a speech delivered on Wednesday, marking the House’s resumption from a long recess.

On Monday, the Federal Executive Council (FEC) approved the Economic Stabilisation Bill to be transmitted to the National Assembly.

The Economic Stabilisation Bill is a product of the fiscal policy and tax reform committee set up by the president in August 2023 under the chairmanship of Taiwo Oyedele.

While reiterating the importance of collaboration between the executive and the legislature, Mr Tajudeen said the lawmakers are anticipating the bill alongside other similar economic bills.

“These Economic Stabilisation Bills offer tax relief for businesses generating employment, personal income relief for workers, and suspend burdensome taxes on small businesses and vulnerable groups.

“The House of Representatives is fully prepared to receive these bills and expedite their passage to ensure timely implementation and economic stability,” he said.

Insecurity remains a concern

In his speech, Mr Tajudeen expressed concern about the general insecurity in the country, citing incidents of attacks by bandits and terror groups.

The speaker said, “Security remains a top priority for this House,” adding that “the safety and well-being of every Nigerian are non-negotiable.”

Mr Tajudeen also commended the government’s efforts in the ongoing campaign against terror groups in the North-West. He added that the House is willing to support the government.

“We will continue collaborating with the Executive and relevant agencies to combat insecurity in all its forms. Legislative reforms will be prioritised to strengthen our security institutions, ensuring they can better respond to emerging challenges,” he said.

The federal lawmakers proceeded on recess on 23 July. Although they were scheduled to return on 17 September, they extended the recess by one week.

They, however, suspended plenary upon resumption on Tuesday to mourn Ifeanyi Ubah, the Anambra South senator, who passed away in July shortly after the National Assembly went on recess.