Senate Leader Opeyemi Bamidele has announced that the upper chamber will address public concerns surrounding the 2024 Tax Reform Bills following the Eid-El-Fitr and Easter holidays.
In a statement released on Thursday, Bamidele assured Nigerians that the Senate remains committed to reviewing the bills promptly.
He also confirmed that efforts to amend the Constitution are ongoing, with the goal of enhancing governance and improving government responsiveness.
Highlighting the need to strengthen the national economy, Bamidele said the Senate has prioritized creating strong legal frameworks.
These efforts, he explained, aim to stabilize fiscal and monetary policies, improve security, control inflation, and build more effective governance systems.
Bamidele noted his involvement in crafting and advancing key legislative measures, including the Tax Reform Bills 2024, which he described as “game changers” for Nigeria’s fiscal system.
According to him, the proposed reforms will help reduce inequality in the tax structure. Under the new bills, businesses with capital of N50 million or less will be exempt from taxes.
Additionally, value-added tax (VAT) will no longer apply to exports and essential goods and services such as food, education, transportation, and healthcare.
