• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

‘Tax Reform Bills To Ease Cost-of-living, Boost Disposable Income’

by Kingsley Okoh
2 months ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, has highlighted key provisions in Nigeria’s latest tax reform bills, emphasising their potential to improve the welfare of workers and promote economic stability, when passed into law.

Advertisement

Oyedele explained that lower taxes would significantly increase disposable income for Nigerian workers, particularly through the full exemption from Pay As You Earn (PAYE) tax for employees earning up to N1.3 million per annum (over N100,000 monthly).

This measure, he noted, would benefit at least 35 per cent of all workers in both the public and private sectors. Furthermore, the reform bills reduce PAYE tax rates for those earning up to N20 million per annum (approximately N1.7 million monthly), impacting an additional 60 per cent of Nigerian workers.

Members of the armed forces will also receive full PAYE tax exemptions, reinforcing government support for security personnel. Oyedele outlined major VAT exemptions designed to reduce the cost of essential goods and services. The new tax provisions eliminate VAT on food, healthcare, and education, covering about 60% of all consumer spending.

Additionally, exemptions extend to rent, transportation, renewable energy, compressed natural gas (CNG), baby products, sanitary towels, and fuel, representing over 20% of total household consumption.

RELATED

ASUU Strike: JAMB Insists 2020-2021, 2021- 2022 Admissions Not Elapsed

FUTA, JAMB At Odds Over Students’ Status After 6 Years Of Study

6 minutes ago
Nigeria Is In Our DNA, Says Lucian PM

Nigeria Is In Our DNA, Says Lucian PM

7 minutes ago

“These measures ensure that workers, especially low-income earners, are shielded from the rising cost of living,” Oyedele stated, adding that the exempted items collectively account for an average of 82 per cent of household spending, and nearly 100% for low-income earners.

The reform bills also introduce tax breaks for wage awards and transport subsidies, easing financial burdens for low-income workers. Bureaucratic restrictions on wage increases have been removed, making salary adjustments more efficient.

Oyedele further revealed that the new tax provisions cap taxable benefits-in-kind, ensuring that workers retain more earnings. Additionally, the bills promote affordable housing through VAT exemptions on rent and real estate purchases, along with stamp duty exemptions on rental payments below N1 million.

Employers will benefit from tax incentives to hire more workers, alongside friendly tax structures designed to attract international remote work opportunities for Nigerians, fostering global employment prospects.

“These changes deserve to be supported by everyone who seeks the well-being of Nigerian workers,” Oyedele stressed. “We believe that the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) will not intentionally work against the interest of their members.”

 

The Nigerian House of Representatives passed four key tax reform bills in March 2025, completing their third reading after detailed deliberations. Initially submitted by the Executive in October 2024, the bills underwent a clause-by-clause review at the Committee of the Whole before moving forward.

 

The Nigerian Senate is expected to approve the tax reform package soon, after which President Bola Tinubu will sign it into law. The new tax regime aims to propel Nigeria’s economy, create a more favorable business environment, and protect workers from financial strain.

 

With the anticipated passage of the tax reform bills, Nigeria is poised to strengthen economic resilience, improve workers’ welfare, and enhance employment opportunities, ensuring a more equitable financial landscape for all.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Taiwo OyedeleTax Reform Bills
SendShareTweetShare
Previous Post

Ministers Advocate Stronger Policy Framework To Boost Regional Devt

Next Post

Bauchi Provides Enabling Environment For Journalists To Operate – Commissioner

Kingsley Okoh

Kingsley Okoh

You May Like

ASUU Strike: JAMB Insists 2020-2021, 2021- 2022 Admissions Not Elapsed
News

FUTA, JAMB At Odds Over Students’ Status After 6 Years Of Study

2025/07/01
Nigeria Is In Our DNA, Says Lucian PM
News

Nigeria Is In Our DNA, Says Lucian PM

2025/07/01
ECS: NSITF Compensates 2 Beneficiaries With N23m
News

ECS: NSITF Compensates 2 Beneficiaries With N23m

2025/07/01
DSP Barau, Ganduje, Others Arrive Madina For Dantata’s Burial
News

DSP Barau, Ganduje, Others Arrive Madina For Dantata’s Burial

2025/07/01
Why I Resigned Lawmaker Seat For Taraba Commissioner Slot
News

IDP’s Corpse Exhumed, Burnt To Ashes In Taraba

2025/07/01
We Need To Learn Political Unity From Kebbi – Sultan
News

Sultan, Ihejirika To Grace NDA’s Course 18 Golden Anniversary

2025/07/01
Leadership Conference advertisement

LATEST

FUTA, JAMB At Odds Over Students’ Status After 6 Years Of Study

Nigeria Is In Our DNA, Says Lucian PM

ECS: NSITF Compensates 2 Beneficiaries With N23m

DSP Barau, Ganduje, Others Arrive Madina For Dantata’s Burial

IDP’s Corpse Exhumed, Burnt To Ashes In Taraba

Sultan, Ihejirika To Grace NDA’s Course 18 Golden Anniversary

Wamakko Sponsors Free Eye Care For 5,000

Bauchi Man Jailed 1 Year For Stealing Water

Group Applauds Faleke For Fighting Insecurity In Kogi

2027: LPPMC Declares Support For Anti-APC Coalition

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.