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Oyedele outlines 10 advantages of tax reform bills for Nigerians.
The ongoing discourse surrounding President Bola Tinubu’s tax reform bills has ignited considerable debate, particularly among Northern governors and various regional groups who express strong opposition to the proposed legislation. However, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has articulated ten key benefits of these bills, which are currently under consideration by the National Assembly.
In a statement shared via his official X account, Oyedele emphasized that the tax reforms aim to enhance the fiscal landscape of Nigeria while alleviating the burden on low-income earners. Notably, individuals earning up to N83,000 monthly will be exempt from the Pay As You Earn (PAYE) tax, and those earning less than N1.7 million annually will see a reduction in their PAYE obligations.
The proposed bills also include several provisions designed to support households and individuals, such as the implementation of a zero percent value-added tax (VAT) on essential services and goods, including food, healthcare, education, and transportation. Additionally, there are provisions for VAT exemptions on transportation, renewable energy, and essential household products.
Oyedele outlined the benefits of the tax reform bills as follows:
1. Complete exemption of low-income earners (up to N1 million per annum) from PAYE.
2. Reduced PAYE tax for those earning less than N1.7 million annually.
3. Zero VAT on food, healthcare, education, electricity generation, and transmission.
4. VAT exemption on transportation, renewable energy, CNG, baby products, sanitary towels, rent, and fuel products.
5. Tax breaks for wage awards and transport subsidies for low-income earners.
6. Tax incentives for employers to increase hiring compared to the previous three years.
7. Exemption of stamp duties on rent below N10 million.
8. PAYE tax exemptions for members of the armed forces engaged in combating insecurity.
9. Tax-friendly regulations for remote workers and digital nomads.
10. Clarification on the taxation of digital assets to prevent double taxation and allow for loss deductions.
These bills, which include the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; and the Nigeria Tax Bill, 2024, are designed to revamp the country’s tax laws and stimulate economic growth by benefiting small businesses, investments, and subnational entities. As the bills progress through the legislative process, their potential impact on Nigeria’s fiscal policy and economic landscape remains a topic of significant interest and discussion.
On Friday, May 16, 2025, Princess Opeyemi Bright was sworn in as the youngest Mayor in the United Kingdom, assuming the prestigious title of First Citizen of the London Borough of Barking and Dagenham at the age of 29.
Born in the UK to Nigerian parents, Princess Bright’s election has been widely lauded as a testament to diversity, youth empowerment, and the increasing global impact of the Nigerian diaspora. Having served as a councillor since the age of 22, her ascent to mayoralty follows a legacy of public service, with her mother, Dr. Councillor Afolasade Bright, previously serving as Civic Mayor of Hackney.
Princess Bright’s success exemplifies a broader trend of Nigerians achieving prominent positions in international governance, joining the ranks of figures like Kemi Badenoch and Chi Onwurah in the UK, and others globally. Her inauguration serves as an encouragement for youth engagement in politics and underscores the vital role young people and women play in shaping public life. This historic achievement offers valuable insights for Nigerian policymakers in diaspora engagement and leadership development initiatives.
Nollywood actress Mary Njoku has recently ignited a debate regarding the necessity of the Joint Admissions and Matriculation Board (JAMB) examination for university admissions in Nigeria. In a statement posted on her Instagram story, Njoku questioned the need for JAMB and post-UTME, arguing that the Senior School Certificate Examination (SSCE) should be sufficient proof of a candidate’s completion of secondary education.
Her statement comes amidst recent controversy surrounding JAMB, particularly following widespread reports of mass failures in the 2025 Unified Tertiary Matriculation Examinations (UTME). While JAMB has admitted to errors and announced retakes for affected candidates, Njoku’s questioning highlights a deeper concern regarding the redundancy and potential inefficiencies within the current university admission process. The actress’s comments add fuel to an existing debate about the effectiveness and fairness of the JAMB examination in evaluating a student’s readiness for tertiary education.
South African sensation Tyla is poised to make history as the first African personality to host the Nickelodeon Kids’ Choice Awards. Organizers announced the Grammy-winning artist as the host of the 2025 edition, scheduled to air live on June 21st from the Barker Hangar in Santa Monica, California.
Beyond hosting duties, Tyla has also secured two nominations: Favourite Global Music Star and Favourite Music Collaboration for “Show Me Love” with WizTheMc, and “bees & honey.”
The nominations list is topped by Kendrick Lamar, Ariana Grande, and Lady Gaga, each receiving four nods. Selena Gomez, Dwayne Johnson, Jelly Roll, and Jack Black follow closely behind with three nominations apiece.
Expressing her excitement on X, Tyla simply stated, “I’m really about to host the kids choice awards.” This landmark achievement further solidifies Tyla’s rising star on the global stage.
Princess Opeyemi Bright Inaugurated as Youngest UK Mayor.
Nollywood Actress Questions JAMB’s Relevance in University Admissions.
Tyla to Host 2025 Nickelodeon Kids’ Choice Awards.
Queen Phinadon Honored at the Cultural Exhibition and Award Ceremony 202
Marvel Studios’ Captain America: Brave New World Set for Theatrical Release
Nigeria’s SEC Grants Approvals to Crypto Operators: A Step Towards Regulation and Acceptance
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