From Adesuwa Tsan, Abuja
Senate Leader Sen. Opeyemi Bamidele says the delay in passing the tax reform bills stems from a careful review of public concerns. He wants to ensure the bills benefit all Nigerians.
He promised the Senate would tackle the bills right after the Eid and Easter holidays. Bamidele, who represents Ekiti Central, spoke at an empowerment event in Ado Ekiti on Thursday, according to his media team.
“The House of Representatives has successfully passed the Tax Reform Bills 2024. The Senate is looking into all areas of public concern. When we resume plenary after the Eid and Easter holidays, the Senate will consider the bills again, resolve all areas that Nigerians have expressed concerns about, and pass the bills purely in the national interest,” Bamidele said.
He called the bills “game changers” that will reshape Nigeria’s fiscal landscape. Workers earning ₦1,000,000 or less yearly will pay no taxes. Businesses with ₦50 million or less in capital will also skip taxes. Plus, VAT will drop from essentials like food, education, transport, and healthcare.
Beyond taxes, Bamidele stressed the Senate’s work on updating the 1999 Constitution for better governance. “The Senate will continue to provide the legal and regulatory environment that will incentivise foreign direct investments. We are convinced that this initiative will not only positively impact our foreign exchange earnings but also stabilise the macroeconomic landscape,” he said.
He highlighted a new law—the Investments and Securities (Repeal and Re-enactment) Bill, 2024—signed by President Bola Ahmed Tinubu. It boosts the securities market and regulates digital currencies and fintech firms. Another amendment to the Nigeria Data Protection Act forces social media and bloggers to set up offices in Nigeria for accountability.
At the empowerment event, over 5,000 Ekiti Central residents got help. Guests included Governor Biodun Oyebanji and the Ewi of Ado-Ekiti, Oba Rufus Adejugbe (Aladesanmi III). Items given out included a caterpillar tractor, 10 diesel tractors, 536 sewing machines, 303 chest freezers, and 1,900 ₦100,000 grants for small businesses. Students received 1,000 math sets, 10,000 school bags, 1,000 calculators, and 40,000 notebooks.
For transport, Bamidele shared 180 motorcycles, 165 tricycles, and 20 minibuses. Farmers got 146 organic liquid fertilisers, 57 corn seeders, and 10 engine tractors.
Governor Oyebanji praised Bamidele’s efforts, linking them to Tinubu’s leadership. “Senator Bamidele is delivering the dividends of democracy to the people of the state on behalf of President Tinubu. We can now see the benefits and the wisdom in Mr. President’s decision,” Oyebanji said.