As the Nigerian Senate prepares to resume plenary at the end of April 2025, its legislative agenda will be dominated by the Tax Reform Bills 2024 and the review of the 1999 Constitution, according to Senate Leader, Senator Opeyemi Michael Bamidele (APC, Ekiti Central).
Speaking at an empowerment programme in Ado Ekiti on Thursday, Bamidele emphasized that the Senate was committed to addressing issues of public concern regarding the Tax Reform Bills, which seek to harmonize Nigeria’s tax laws and create a fairer fiscal environment.
Tax Reforms: A Game Changer
Bamidele described the proposed Tax Reform Bills as transformative, highlighting key provisions:
Tax Exemption for Low-Income Earners: Employees earning ₦1,000,000 or below annually will be completely exempt from taxation.
Support for Small Businesses: Companies with capital of ₦50 million or less will enjoy tax exemptions.
Removal of VAT on Essentials: No Value Added Tax (VAT) will be placed on exports, food, education, transportation, and medical services.
Competitive Corporate Tax Rates: The bills propose a 27.5% tax rate in 2025 and 25% in 2026, which Bamidele argued is moderate compared to South Africa (27%) and Kenya (30%).
> “The House of Representatives has successfully passed the Tax Reform Bills 2024. When the Senate resumes after the Eid and Easter holidays, we will re-examine the bills, address public concerns, and pass them purely in the national interest,” Bamidele assured.
Constitutional Review Still in Progress
The Senate Leader reaffirmed that the ongoing review of the 1999 Constitution was aimed at improving governance, promoting inclusivity, and strengthening democratic institutions.
> “The goal is to evolve a more efficient and responsive governance system that serves all Nigerians, irrespective of political, ethnic, or religious affiliations,” he said.
He also noted that the Senate was working on legislative measures to:
Attract foreign direct investment (FDI) to stabilize Nigeria’s economy.
Amend social investment laws to ensure accountability and efficiency in poverty alleviation programs.
Strengthen economic and digital regulations, including the recently amended Nigeria Data Protection Act, which mandates social media platforms and bloggers to establish physical offices in Nigeria.
Empowerment for Constituents
During the empowerment programme, which benefited 5,000 constituents across five local government areas in Ekiti Central, Bamidele distributed:
180 motorcycles, 165 tricycles, and 20 mini-buses to improve local transportation.
536 sewing machines, 303 chest freezers, and ₦100,000 grants for 1,900 entrepreneurs.
10 diesel engine tractors, one caterpillar tractor, and agricultural inputs to support farmers.
10,000 school bags, 1,000 mathematical sets, 1,000 calculators, and 40,000 notebooks for public school students.
Ekiti Governor Applauds Bamidele’s Impact
Ekiti State Governor, Mr. Biodun Oyebanji, commended Bamidele’s contributions, stating that the lawmaker’s efforts were direct dividends of democracy for the people.
> “Senator Bamidele is delivering for Ekiti on behalf of President Tinubu. We now see the benefits of allowing him to serve at the federal level,” Oyebanji remarked.
