IBY
Peterside Rejoice Eneky
The Leader of the Senate, Senator Opeyemi Bamidele, has assured Nigerians that the Senate will consider the Tax Reform Bills, 2024, immediately after the Eid and Easter holidays. He emphasized that the upper chamber is committed to addressing all public concerns surrounding the bills.
Speaking in Ado-Ekiti, Ekiti State, on Thursday during an empowerment programme for over 5,000 constituents, Bamidele also reaffirmed that the ongoing review of the 1999 Constitution remains on course. According to him, the amendment aims to create a more efficient and responsive governance system.
The event was attended by prominent dignitaries, including Ekiti State Governor, Mr. Biodun Oyebanji; Deputy Governor, Chief Christianah Afuye; Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye; and the Ewi of Ado-Ekiti, Oba Rufus Adejugbe (Aladesanmi III), among others.
Bamidele highlighted key legislative initiatives the Senate has championed since its inauguration on June 13, 2023, aimed at stabilizing Nigeria’s democracy and economy. He stressed that the Senate has prioritized fiscal and monetary stability, security, and economic growth.
He described the Tax Reform Bills as transformative measures designed to address inequalities in the tax system. Under the proposed regime, employees earning ₦1 million or below annually will be exempt from tax, while businesses with capital of ₦50 million or less will also enjoy tax exemptions. Additionally, Value Added Tax (VAT) will no longer apply to essential goods and services such as food, education, transportation, and medical treatment.
“The House of Representatives has successfully passed the Tax Reform Bills, 2024. The Senate is reviewing areas of public concern and will pass the bills purely in the national interest once we resume plenary,” Bamidele assured.
Beyond tax reforms, Bamidele reiterated the National Assembly’s commitment to constitutional amendments that will improve governance regardless of political, ethnic, or religious differences. He also reaffirmed efforts to create a legal environment that attracts foreign direct investment and stabilizes Nigeria’s macroeconomic landscape.
Highlighting legislative milestones, he mentioned the recent amendment of the National Social Investment Programme Agency (Establishment) Act, 2024, to ensure effective and accountable service delivery for poverty alleviation. He also referenced the passage of the Investments and Securities (Repeal and Re-enactment) Bill, 2024, which was signed into law by President Bola Ahmed Tinubu. The new law enhances Nigeria’s securities market competitiveness and regulates digital financial transactions.
Furthermore, the Senate amended the Nigeria Data Protection Act, 2023, mandating social media platforms and bloggers to establish physical offices in Nigeria to enhance accountability and transparency in the digital space.
As part of his constituency projects, Bamidele empowered thousands of constituents with farming equipment, grants, and educational materials. Items distributed included one caterpillar tractor, 10 diesel-engine tractors, 536 sewing machines, 303 chest freezers, and ₦100,000 grants to 1,900 beneficiaries. Students in public schools received 10,000 school bags, 1,000 mathematical sets, 1,000 calculators, and 40,000 notebooks. Additionally, 180 motorcycles, 165 tricycles, and 20 mini buses were provided to improve transportation, while farmers received organic liquid fertilizers, corn seeders, and engine tractors.
Governor Oyebanji commended Bamidele for his dedication to serving Ekiti State at the federal level, acknowledging the numerous empowerment programs facilitated through his legislative efforts. “We can now see the benefits of allowing Senator Bamidele to serve at the federal level. His initiatives are delivering dividends of democracy to the people of Ekiti State,” the governor stated.
Bamidele reassured his constituents of continued efforts to implement policies that will uplift the people and enhance the economic and social well-being of Nigerians.
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