- Senate is in the process of overriding President Buhari's decision on the Industrial Development Act (Income Tax Relief) Amendment Bill
- The upper chamber's move started when the bill passed the first reading on Tuesday, April 30
- The final moves to override the president's decision would involve second and third readings of the bill, and a two-third majority
A legislative action that would override President Muhammadu Buhari’s decision on the Industrial Development Act (Income Tax Relief) Amendment Bill has been approved by the Senate.
The Senate’s endorsement of the bill came after it passed the first reading on Tuesday, April 30, a move which initiated the steps to override, The Guardian reports.
The next step for the override would demand that the red chamber re-debate the bill, make it pass its second reading and gather a two-third support for it at the third reading.
It should be noted that the bill is one of the 39 vetoed bills so far.
The Income Tax Relief bill provides that companies which have started the process of expanding their operations to cover pioneer industries, and that firms whose applications for expansion were denied could apply again.
The bill earlier rejected by the president seeks for additional incentives for some types of investment and how companies could apply for pioneer certificates.
This is the second time the president is rejecting the proposed legislation, having refused from signing the first version in December 2018.
PAY ATTENTION: Download our mobile app to enjoy the latest news update
Meanwhile, Legit.ng earlier reported that on Wednesday, March 20, Buhari once again declined assent to five bills passed by the National Assembly. The Guardian reports that the latest additions bring the total number of bills passed by the eighth National Assembly and rejected by the president to 26.
It was gathered that the president listed the newly rejected bills to include the Nigerian Film Corporation Bill, Immigration (Amendment) Bill, Climate Change Bill, Chattered Institute of Pension Practitioners Bill as well as Digital Rights and Freedom Bill, in a letter addressed to Senate President Bukola Saraki and read at Wednesday’s plenary.
NAIJ.com (naija.ng) -> Legit.ng. We have upgraded to serve you better
Nigerians set 2nd term agenda for President Buhari - on Legit TV