The Nigerian Senate, under the leadership of Senator Opeyemi Bamidele, has pledged to urgently address public concerns surrounding the pivotal Tax Reform Bills 2024 upon the conclusion of the Eid and Easter holidays. Speaking in Ado Ekiti during an empowerment initiative, Senator Bamidele, representing Ekiti Central, reassured Nigerians that the upper legislative chamber is diligently examining all pertinent public concerns related to the proposed tax legislation.
“The House of Representatives has successfully passed the Tax Reform Bills 2024. When we resume plenary, the Senate will resolve all areas of concern and pass the bills purely in the national interest,” Bamidele articulated.
These bills are poised to significantly reshape Nigeria’s fiscal landscape, with a focus on alleviating tax burdens for low-income earners and exempting small businesses from taxation. This approach aims to stimulate economic growth and enhance financial inclusion.
Furthermore, Senator Bamidele emphasized the ongoing progress of the constitutional review of the Federal Republic of Nigeria’s 1999 Constitution (as amended). This review, he stated, is designed to culminate in “a more efficient and responsive governance system.”
“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 macro-economic landscape,” he added.
The Senate’s dedication to creating a favorable investment climate is evidenced by recent legislative actions. These include amendments to the National Social Investment Programme Act and the Nigeria Data Protection Act, aimed at strengthening institutions and promoting economic expansion.
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Regarding the National Social Investment Program act amendments, it was said “The Act now guarantees the sustainability of the NSIP as a valuable tool for poverty alleviation in Nigeria. We have provided necessary legislative frameworks and strengthened public institutions with capacities to deepen social equity and promote economic growth.”
It is clear that the senate is working to create stability within nigeria, not only financially but also socially.
In addition to these legislative efforts, Senator Bamidele conducted an empowerment program in Ado Ekiti, distributing vital resources, including tractors, motorcycles, and educational materials, to 5,000 constituents.
Ekiti State Governor Biodun Oyebanji lauded Senator Bamidele’s contributions, acknowledging the positive impact of his federal representation on the state. “Senator Bamidele is delivering the dividends of democracy on behalf of Mr. President,” Oyebanji stated.
The Nigerian senate, through these actions, reinforces its commitment to developing nigeria’s economic and social structures, in a way that benifits its citizens.
