January 13, 2020
By Wole Obayomi, KPMG
The Finance Bill, 2019 (“the Bill”) is now a law! This follows the assent of His Excellency, President Muhammadu Buhari, GCFR to the Bill as announced via his twitter account today, 13 January 2020.
We commend the National Assembly and the Executive for the speedy passage of the groundbreaking Bill, which is the first of its kind since Nigeria returned to democracy in 1999.
Our expectation is that the Executive will continue the practice of submitting a Finance Bill along with the Budget to the National Assembly in subsequent years in accordance with global best practice.