The constitution of Nigeria is not static, it is open for changes or additions from time to time, depending on whether there is a need for addition or amendment. The power to amend or make new laws in Nigeria is vested in the National Assembly, which is made up of the Senate and House of Representatives. The power of the National Assembly to make or amend laws is exercised by Bills passed by both the Senate and the House of Representatives and, assented to by the President....CONTINUE READING THE FULL ARTICLE>>>
So in the year, 2021, there were several bills passed by the National Assembly, which all aimed at the betterment of the country. While some of these Bills may have been passed into law, some are still been deliberated by the house. Some of the notable bills were:
1. Electoral Amendment Bill
The electoral amendment Bill is one of the most talked-about among all the Bills passed by the national assembly in the year, 2021. The Bill seeks to introduce the use of electronic voting and Direct Primary in Nigeria’s electoral system. There have been serious controversies about the Bill, while some are in Support of the Bill, there are some that are moving against it. What made the Bill more controversial was that President Buhari recently rejected it after the Lawmakers transmitted it to him.
2. Finance Bill
Another notable Bill which was passed by the National Assembly in 2021, was the Finance bill. In a concise explanation, the Finance bill seeks to accelerate international tax reforms to enhance the taxation of non-resident individuals and companies that derive profit from Nigeria. It also seeks to implement Financial sector reforms to support ongoing capital market reforms relating to securities lending transactions, real estate investment trusts, and the recapitalization of insurance companies.
3. Petroleum Industry Bill (PIB)
Petroleum Industry Bill was another notable Bill the National Assembly passed in the year, 2021. The Bill seeks to overhaul and transform the Nigerian oil gas industry and was signed into law on August 16, 2021.
4. NYSC Trust Fund Bill
The National Youth Service Corps Trust Fund Bill was one of the bills of high importance passed by the national assembly in 2021. The bill which scaled first reading on December 17, 2021, seeks to provide sustainable sources of funds for NYSC, Skill Acquisition training, and startup capital to Corps Members. It also seeks to develop Camps and NYSC formations, and improve the general welfare of Corps Members and personnel of the Scheme.
This was a very important Bill as it would help to put a check on the increasing number of unemployed graduates in our society today.
5. Armed Forces of Nigeria Trust Fund Bill
This bill seeks to provide special financial support for Nigerian soldiers. This Bill is very important if passed into law, as it would help to invigorate and motivate our military men to discharge the best of their duties, for the best of the Country’s advantage.
