The Senate has assured President Bola Tinubu that it will not kill the tax reform bill he has proposed, emphasizing its commitment to supporting measures aimed at improving Nigeria’s economy.
During a visit to the National Assembly to present the 2025 budget, President Tinubu highlighted the significance of his tax reform, which seeks to exempt millions of ordinary Nigerians from taxes, provided their business activities do not exceed a certain threshold.
“We’ll not kill any reform that you bring forward that will change the future of this country,” the Senate President assured.
The Senate, led by its President, reiterated its full backing for the reform, stressing that it aligns with efforts to create a fairer, more inclusive tax system in the country.
“This tax reform will exempt millions of ordinary Nigerians from tax so long as they did not do business that exceed a threshold,” the Senate President added, emphasizing the reform’s potential to ease the burden on low-income Nigerians.
In his remarks, the Senate President underscored the need for collaboration between the executive and legislative arms to ensure the success of the tax reforms.
He assured President Tinubu that the Senate would expedite the process to ensure swift passage of the bill.
The government’s initiative has been widely praised for its potential to transform the country’s tax landscape, making it more equitable and sustainable for future generations.
