The Nigerian Senate will soon begin full discussions on the 2024 Tax Reform Bills and continue its review of the 1999 Constitution, according to Senate Leader Opeyemi Bamidele.

Bamidele said the Senate will look into all public concerns about the tax bills right after the Eid and Easter holidays. He promised that the upper chamber would pass the bills with the best interest of Nigerians in mind.

Speaking in Ado Ekiti during a programme where 5,000 people from Ekiti Central received support, Bamidele explained that both the tax reform and the constitution review are important steps toward better governance and a stronger economy.

He pointed out that the tax bills would change the current system, helping reduce unfairness. Under the new rules:

• Workers earning N1 million or less per year won’t have to pay tax.
• Small businesses with N50 million or less in capital will be tax-free.
• No VAT on exports and basic items that most people use.

Bamidele noted that the House of Representatives had already passed the tax bills, and the Senate will do the same after resolving public concerns.

He also shared that the review of the 1999 Constitution is still ongoing. The goal is to build a system that works better for all Nigerians, no matter their background or beliefs.

The Senate has also been working on laws to:

• Support foreign investments
• Improve the economy and exchange rates
• Boost Nigeria’s GDP
• Fight poverty through changes to the National Social Investment Programme (NSIP)

He mentioned that the NSIP Act has been updated to improve service delivery and make the system more accountable.

Other changes by the Senate include:

• A new Investments and Securities Act to regulate digital currencies and improve the financial market.
• Changes to the Data Protection Act which now require social media companies and bloggers to set up physical offices in Nigeria to promote transparency.

Bamidele assured Nigerians that all these efforts are focused on reducing poverty, improving public services, and building a more stable, inclusive, and secure nation.