- The power of the National Assembly to make laws shall be exercised by Bills passed by both the Senate and the House of Representatives and, except as otherwise provided by subsection
- of this section, assented to by the President.
- A bill may originate in either the Senate or the House of Representatives and shall not become law unless it has been passed and, except as otherwise provided by this section and section 55 of this Constitution, assented to in accordance with the provisions of this section.
- Where a bill has been passed by the House in which it originated, it shall be sent to the other House; and it shall be presented to the President for assent when it has been passed by that House and agreement has been reached between the 2 Houses on any amendment made on it.
- Where a bill is presented to the President for assent, he shall within 30 days thereof signify that he assents or that he withholds assent.
- Where the President withholds his assent and the bill is again passed by each House by two-thirds majority, the bill shall become law and the assent of the President shall not be required.
Mode of Exercising Federal Legislative Power: Money
Bill(1) The provisions of this section shall apply to:
(a) an appropriation bill or supplementary appropriation bill including any other bill for the payment, issue or withdrawal from the Consolidated Revenue Fund or any other public fund of the Federation of any money charged thereon or any alteration in the amount of such a payment, issue or withdrawal; and (b) a bill for the imposition of or increase in any tax, duty or fee or any reduction, withdrawal or cancellation thereof.
(2) Where a bill to which this section applies is passed by one of the Houses of the National Assembly but is not passed by the other House within a period of 2 months from the commencement of a financial year, the President of the Senate shall within 14 days thereafter arrange for and convene a meeting of the joint finance committee to examine the bill with a view to resolving the
differences between the 2 Houses.
(3) Where the joint finance committee fails to resolve such differences then the bill shall be presented to the National Assembly sitting at a joint meeting, and if the bill is passed at such joint meeting, it shall be presented to the President for assent.
(4) Where the President within 30 days after the presentation of assent, then the bill shall again be presented to the National Assembly sitting at a joint meeting, and if passed by two-thirds majority of members of both Houses at such joint meeting, the bill shall become law and the assent of the President shall not be required.
(5) In this section, “joint finance committee” refers to the joint committee of the National Assembly on finance established pursuant to section 58 (3) of this Constitution.
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