"Taiwo Oyedele Promises Economic Relief: Tinubu’s Tax Reform Bills Set to Boost Workers’ Income and Support Small Businesses"
Taiwo Oyedele, the Chairman of the Presidential Fiscal Policy & Tax Reforms Committee, has recently assured Nigerians that the tax reform bills proposed by President Bola Tinubu will significantly enhance workers' net income and alleviate the financial burdens many face. In a message shared on his X account to commemorate Workers' Day, Oyedele emphasized that these reforms are designed to benefit Nigerian workers and should be supported by all stakeholders, including organized labour groups like the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) Key Features of the Tax Reform Bills Increased Disposable Income: The proposed reforms aim to lower taxes, increasing workers' disposable incomes. Notably, the bills include a full exemption from the Pay As You Earn (PAYE) tax for workers earning up to ₦1.3 million annually (over ₦100,000 per month), representing about 35% of all public and private sector workers. Additionally, armed forces members will benef...