From Adesuwa Tsan, Abuja

Bamidele, representing Ekiti Central, who made the remarks during an empowerment programme in Ado Ekiti, Ekiti State, assured that the upper chamber will consider the Tax Reform Bills immediately after the Eid and Easter holidays.

“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.”

He also emphasised that the Bills are “game changers that will redefine and transform our country’s fiscal environment significantly.”

He informed the people that the proposed tax regime will provide significant relief for employees earning N1,000,000 or below annually, as they will be completely exempt from taxation. Similarly, businesses with capital of N50 million or below will enjoy tax exemptions. The bills also propose the removal of Value Added Tax (VAT) on essential goods and services, including food, education, transportation, and medical treatment.

Aside from tax reforms, Bamidele reaffirmed the Senate’s commitment to ongoing review of the 1999 Constitution (as amended), which he believes will lead to a more efficient and responsive governance system.

“The Senate will continue to provide the legal and regulatory environment that will incentivize foreign direct investments. We are convinced that this initiative will not only positively impact our foreign exchange earnings but also stabilize the macroeconomic landscape,” he assured.

Highlighting the legislative efforts to strengthen Nigeria’s economy, he mentioned that the Senate had passed the Investments and Securities (Repeal and Re-enactment) Bill, 2024, which has since been signed into law by President Bola Ahmed Tinubu.

The senator explained that this law enhances Nigeria’s securities market competitiveness and regulates digital currencies and fintech companies. Additionally, the amendment to the Nigeria Data Protection Act mandates social media platforms and bloggers to establish physical offices in Nigeria, promoting accountability and transparency within the digital space.

On the empowerment programme, he disclosed that over 5,000 of his constituents benefited from the outreach which was attended by dignitaries such as Ekiti State Governor, Mr. Biodun Oyebanji, and the Ewi of Ado-Ekiti, Oba Rufus Adejugbe (Aladesanmi III). Numerous items including one caterpillar tractor, 10 diesel engine tractors, 536 sewing machines, 303 chest freezers, and 1,900 grants of N100,000 each to support small businesses were distributed at the outreach. Educational materials such as 1,000 mathematical sets, 10,000 school bags, 1,000 calculators, and 40,000 notebooks were also provided for students in public schools within Ekiti Central.

Furthermore, to improve transportation within the senatorial district, he distributed 180 motorcycles, 165 tricycles, and 20 mini buses. Farmers also benefited from 146 organic liquid fertilizers, 57 corn seeders, and 10 engine tractors.

Speaking at the event, Governor Oyebanji acknowledged Bamidele’s contributions to the state, attributing them to President Tinubu’s decision to have him serve at the federal level. “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 remarked.