Senators Raise Workers’ Hope as N’Assembly Resumes Plenary Today

Sunday Aborisade captures the legislative agenda before the Senate as federal legislators resume today having adjourned plenary on March 27, 2025, for the Easter and Eid al-Fitr holidays.

The most pressing issue before the Senate as its members set to resume plenary today is the much talked about Tax Reform Bills pending before it as both the Senate Leader, Senator OpeyemiBamidele and the Chairman, Senate Committee on Finance, Senator Sani Musa, had assured Nigerians, especially the workers that they would laugh last after the passage.

Both Bamidele and Musa specifically assured the Nigerian workers that those of them who are earning below N1m per annum, would no longer pay tax again after the passage of the fiscal bill.

Apart from the legislation on the nation’s fiscal policy, the red chamber will also hasten process on the ongoing review of the 1999 Constitution (as amended) by its Committee chaired by the Deputy Senate President, Senator JibrinBarau.

The Red Chamber would possibly address the current worsening insecurity situation across the country and continue it’s engagement with the nation’s security and military agencies on how to address the issue.

Leader of the Senate, had recently said the upper chamber was  looking into all issues of public concern relating to the Tax Reform Bills, 2024.

He had also assured Nigerians that the Red Chamber would consider the bills immediately after Eid and Easter holidays.

Bamidele, who represents Ekiti Central Senatorial District, had equally revealed that the review of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) was still on course.

He explained that the process would lead to a more efficient and responsive governance system when concluded.

Bamidele extensively reflected on diverse legislative initiatives that the Senate had promoted since its inauguration on June 13, 2023 to ensure the sustainability of the country’s democracy and the stability of her economy.

Persuaded by the urgent need to strengthen the country’s economy, the Senate Leader observed that the upper chamber had focused mainly on the development of legal frameworks “to stabilise the fiscal and monetary spaces; prioritise security; address consumer price inflation and create more functional governance structures.”

Specifically, Bamidele pointed out prominent roles he had played in the formulation and prioritisation of several significant legislative initiatives, which according to him, included the introduction of the Tax Reform Bills 2024.

He explained that the tax reform bills “are game changers that will redefine and transform our country’s fiscal environment significantly.”

When enacted, he said, “the bills will address inequality and injustice that characterise our tax system.”

Under the proposed tax regime, Bamidele noted that the employees earning ₦1,000,000 or below per annum “will be completely relieved of tax burden”.

Besides, he said, all businesses with ₦50 million capital or below will now enjoy tax exemptions.

Value Added Tax, he added, will no longer be placed on exports and essential consumptions by the masses.

According to him, “The essential goods and services include food items, education, transportation and medical treatment, among others. 

“The bills further propose 27.5% in 2025 and 25% in 2026, which according to development data, is conservative compared to 27% in South Africa and 30% in Kenya.

“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 and pass the bills purely in the national interest.”

Bamidele, also, emphasised the resolve of the National Assembly to review the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

He said the federal parliament had never relented effort in recrafting the country’s grundnorm.

Bamidele explained the rationale behind the amendment, which according to him, was designed to evolve “a more efficient and responsive governance system that will serve the interests of all regardless of political bias, ethnicity or religious affiliation.

He said, “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.

“The initiative will, no doubt, boost the country’s revenue generation; improve the living conditions of the people and increase the country’s gross domestic product (GDP),” Bamidele assured constituents and  Nigerians at large.

He added that the efforts were exemplified in the amendment of the National Social Investment Programme Agency (Establishment) Act, 2024 “to establish an effective and accountable structure for service delivery, and adequate coordination among relevant agencies of government.”

He 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.

“The frameworks are also designed to foster environmental sustainability; encourage greater access to qualitative health care; discourage social dislocation; eliminate terrorism and insecurity and reduce the gap betweens the haves and the haves-not.

“In December 2024, the Senate passed the Investments and Securities (Repeal and Re-enactment) Bill, 2024.

“The bill, recently signed into law by President Bola Tinubu, was reviewed to enhance the competitiveness of Nigeria’s securities market; address modern financial practices and regulate digital currencies and fintech companies.

“The Senate, also, amended the Nigeria Data Protection Act (Amendment) Act, 2023 to mandate social media platforms and bloggers to establish physical offices in Nigeria.

“The amendment further aims at promoting accountability and transparency within the digital media space. This reflects our efforts to enhance Nigeria’s economic, educational and digital regulatory frameworks,” Bamidele further said.

On his part, Chairman of the Senate Committee on Finance, Senator Sani Musa,

announced that certain categories of civil servants in Nigeria will be exempted from paying tax, specifically those earning below N1 million per year.

The Senator, who made this disclosure in Minna, Niger State last week, stated that the tax reform bills, which include this provision, are set to be presented to the National Assembly for passage on resumption of Plenary from today.

He said, “The Tax Reform Bills are ready for presentation before the National Assembly next week. Once passed, any worker earning below N1 million annually will no longer be required to pay tax.”

Musa explained that the reform was designed to recognize and reward the efforts of workers in Nigeria, with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) having been favorably included in the tax reform process.

He further commented on the ongoing economic policies of the Tinubu administration, acknowledging the short-term challenges they may present but emphasizing their long-term benefits for ordinary Nigerians.

Musa called on Nigerians to continue supporting President Tinubu’s administration for its success.

The National Assembly had officially extended its resumption date for plenary sessions from Tuesday, 29 April to Tuesday, 6 May 2025.

The announcement was contained in a memo dated 21 April 2025 and signed by the Clerk of the National Assembly, KamoruOgunlana.

The National Assembly Clerk confirmed the shift and cited participation in upcoming national events as the reason for the extension.

“I am directed to inform Distinguished Senators, Honourable Members, and the general public that the two Houses of the National Assembly have extended the date for the resumption of plenary sessions from Tuesday, 29th April 2025, to Tuesday, 6th May 2025,” Ogunlana stated.

According to him, the date change was to enable lawmakers to partake in the Workers’ Day celebration on 1 May and attend to pressing constituency matters.

“We apologise for any inconvenience this may cause and appreciate your understanding,” he added.

The Senate had previously adjourned plenary on 27 March, ahead of the Easter and Eid al-Fitr holidays.