Tinubu to Submit an Emergency Fiscal Bill to the National Assembly

President Bola Tinubu plans to send an emergency fiscal bill to the national assembly, early next month.

Chairman of the Federal Inland Revenue Service, Zach Adedeji made this known on Thursday while appearing before the finance committee of the House of Reps to defend the agency’s 2024 budget bill.

Adedeji said the bill to be forwarded within the next two weeks after it has been tabled before the Federal Executive Council for its approval.

Ahead of the presentation, he said that Finance Minister, Wale Edun would engage the national assembly.

He explained that the bill seeks to clarify the fiscal direction of the Tinubu administration, amidst the current economic challenges.

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Mr Adedeji did not disclose the content of the bill but stated that the Finance Minister, Wale Edun, will engage with lawmakers to discuss its content before presentation to the National Assembly.

If not for change, I know one should have come yesterday. It was listed at FEC.

Hopefully, we will have the first one that we will label an ‘emergency bill’ that addresses those critical issues, he said.

Nigeria is facing a challenging macroeconomic environment, marked by inflationary pressure, foreign exchange volatility, and a food crisis.

In recent months, the Central Bank Governor, Yemi Cardoso, has been notably active in addressing the monetary aspects of the crisis, while the fiscal front has remained relatively quiet.

The hardship has triggered protests in some parts of the country. On Tuesday, the Nigeria Labour Congress (NLC) held nationwide protests across the country over economic hardship.