The Public Procurement Act, for the first time since it was enacted in 2007, has been made mandatory for both the legislative and judicial arms of the Federal Government.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this known on Monday, while giving a breakdown of aspects of the 2020 Finance Act, which became effective on January 1, 2021.The Minister said the Act has introduced 80 changes to about 14 different tax laws including the Company Income Tax Act, the Capital Gains Tax Act, Stamp Duties Act, Oil & Gas Export Free Zone Act, Customs & Excise Tariff Etc. (Consolidated) Act, Value Added Tax Act, amongst others.
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