In a significant legislative development, the Nigerian Senate and House of Representatives have commenced their annual seven-week recess. Lawmakers are slated to resume plenary sessions on September 17, following the passage of several critical bills.
Before adjourning, the National Assembly made substantial legislative strides, including the passage of the new minimum wage law and President Bola Tinubu’s request to increase the 2024 budget by N6.2 trillion. These measures reflect the government’s ongoing efforts to address economic challenges and improve living standards for Nigerians.
In addition, the lawmakers ratified amendments to the 2023 Finance Act, further solidifying their commitment to fiscal reforms. Senate President Godswill Akpabio expressed optimism regarding the minimum wage bill, stating, “We are hoping that Mr. President signs the minimum wage bill before Friday.”
The National Assembly also approved a groundbreaking bill to impose a one-time windfall tax on banks for foreign exchange earnings, aiming to harness additional revenue for national development.
While the recess is underway, some National Assembly committees are scheduled to convene over the next two weeks to address pressing matters, ensuring that legislative momentum is maintained.
This recess period offers a brief respite for lawmakers, allowing them to engage with their constituencies and gather insights that will inform future legislative actions. As the September 17 resumption date approaches, the nation anticipates further legislative activities aimed at fostering economic growth and social welfare.
PIONEER NEWS 