Senate receives buharis request to amend finance act

It seems you're referring to a recent news article!

According to reports, the Nigerian Senate has received a request from President Muhammadu Buhari to amend the Finance Act 2020. The request is aimed at making some changes to the Act, which was signed into law in December 2020.

The Finance Act 2020 was enacted to increase revenue generation and reduce the country's reliance on oil exports. The Act introduced several tax reforms, including the increase in Value Added Tax (VAT) from 5% to 7.5%.

President Buhari's request to amend the Act is likely in response to concerns raised by various stakeholders, including the National Assembly, over some provisions of the Act. The President may be seeking to address these concerns and make adjustments to the Act to ensure its effective implementation.

The Senate has received the request and will likely consider it in the coming weeks. The amendment process will involve a thorough review of the Act and may involve public hearings and consultations with stakeholders.

It's worth noting that the amendment of the Finance Act 2020 could have significant implications for the country's economy and fiscal policy. Therefore, it's essential for the Senate to carefully consider the request and ensure that any changes made are in the best interest of the country.