…says Finance Act will alleviate Nigeria’s problems
…7.5percent VAT one of the lowest worldwide
…we’ll pass PIB soon
The Spokesperson of the House of Representatives, Benjamin Kalu on Tuesday said in a bid to correct the impression that the House is not a rubber stamp, lawmakers will bark and bite to play the role of a watchdog for Nigerians.
Addressing journalists after yesterday’s brief plenary, the spokesperson of the House said Ministries Departments Agencies, MDAs will be properly watched by members of the House.
Kalu explained: “we will wear cap of the watchdog of the society and disappoint those who call the House rubber stamp.
“We will watch the executive using our Extant laws as stipulated in sections 88 and 89 with regards to our oversight functions over MDAs so they should sit up properly.
On the recently endorsed Finance Act by President Muhamnadu Buhari, Kalu said it was the best thing that ever happened to Nigeria as it will go a long way to activate the Nigerian economy.
He explained that “enemies of government had criticised it without looking at the merits of the Act describing it as anti-Nigerians but is one Act that will stimulate our economy.
“While working on it we remove tax from excess dividend thereby deleting the Excess Tax Dividends, EDT from the Act and a lot of exemptions in production of certain essential products and SMEs with N25m total package.
On VAT, the House image maker said “the recently introduced 7.5percent VAT is one of the lowest in the world”.