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The bill seeks to repeal and replace the existing Quarantine Act and aims to empower the Nigerian Centre for Disease Control (the “NCDC”), particularly the Director -General of the NCDC (the “D-G of the NCDC”) to take more proactive in preventing/responding to an infectious disease outbreak.

The bill seeks to authorize the issue of the total sum of ₦13,082,420,568,233 (Thirteen Trillion, Eighty-Two Billion, Four Hundred and Twenty Million, Five Hundred and Sixty-Eight Thousand, Two Hundred and Thirty-Three Naira) only from the Consolidated Revenue Fund of the Federation, of which:

The Finance Bill, 2020, seeks to achieve the following outcomes

The bill seeks to allow creditor banks to track the account(s) of loan defaulters through their Bank Verification Number (BVN) and recover past and due obligation without recourse to the borrower. The bill empowers banks to deduct money from the account of loan defaulters.

The bill seeks to establish a framework for the creation of a commercially oriented and profit-driven national petroleum company, promote transparency, good governance, and accountability in the administration of petroleum resources of Nigeria, foster a business environment

The bill seeks to authorize the issue of the total sum of ₦13,082,420,568,233(Thirteen Trillion, Eighty-Two Billion, Four Hundred and Twenty Million, Five Hundred and Sixty-Eight Thousand, Two Hundred and Thirty-Three Naira) only from the Consolidated Revenue Fund of the Federation, of which:

The bill seeks to amend the Nigerian Oil and Gas Industry Content Development Act by expanding its scope to capture changes in the industry. The bill proposes to:Create a Nigerian Content Council to be headed by the Vice-President; Deduct the sum of 2% from every contract awarded

The bill seeks to amend the 2020 Appropriations Act and authorize the issue of the total sum of ₦10,509,654,033,053 only from the Consolidated Revenue Fund of the Federation, of which: ₦398,505,979,362 is for Statutory Transfers; ₦2,951,710,000,000 is for Debt Service;