The House of Representatives has passed the Emergency Economic Stimulus Bill, 2020, which, among other things, aims at providing temporary relief to companies and individuals from the economic consequences of the corona-virus pandemic.
The bill especially seeks to maintain the general financial wellbeing of Nigerians pending the eradication of the pandemic and return to economic stability.
The bill during yesterday’s plenary, passed the first, second and third readings in just over one hour.
It was jointly sponsored by the leadership of the House, including the Speaker, Mr Femi Gbajabiamila, and the Deputy Speaker, Mr Ahmed Wase.
The Senate, which is required to concur with the legislation before onward transmission to the president for assent, had, however, adjourned for two weeks before the House concluded its work on it.
It will also protect the employment of Nigerians who might otherwise become unemployed as a consequence of management decision to retrench personnel in response to the prevailing economic reality.
It will also provide for a moratorium on mortgage obligations for individuals at a time of widespread economic uncertainty.
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