Nigeria to Revert to Jan to Dec Budget Cycle as Senate Set to Overide Buhari’s Veto on 2 Bills

Following the adoption of David Umaru’s Report on Wednesday by the Nigerian Senate, to overide President Muhammadu Buhari’s on 2 bills, the country will return to the budget cycle of January to December.

The constitutional amendment bill seeks to make it mandatory for the President and governor of a state to lay the annual budget estimates before parliament, three months to the end of a financial year.

The Senate also said it would override the President’s veto on the Industrial Development (Income Tax Relief) Amendment Bill.

The red chamer resolved to reconsider and pass the Petroleum Industry Governance Bill, Stamp Duties (Amendment) Bill and nine other bills earlier rejected by the President, and transmit them to him for assent while four other bills rejected by the President would not get further legislative works on them.

The Chairman if the Technical Committee on Declined Assent to Bills by the President, David Umaru, (APC Niger) told his colleagues that his panel scrutinised the 17 bills.

He recommended that 11 of them should be reconsidered and passed by the National Assembly.

He also recommended that four others should be withdrawn even as he called on the National Assembly to override the President’s veto on two bills.

The two bills to be overridden are, the Constitution of the Federal Republic of Nigeria, 1999 (Fourth Alteration, No. 28) Bill, 2018 as well as the Industrial Development (Income Tax Relief) Amendment Bill.

The President had in 2018 declined assent to the Constitution (Fourth Alteration, No. 28) Bill on the grounds that Section 2 (b) and 3 (b) of the proposal ‘appear not to take full cognisance of the provisions of Section 58 (4) of the 1999 constitution.’

But in a 34-page report, the panel submitted that the bill was not in conflict with the 1999 constitution, as claimed by the President.

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