Nigeria Aims for $1 Trillion Economy with Tax Reform; House Advocates for Tax Exemption for People with Disabilities

Nigeria's Senate Committee on Finance is undertaking tax reform legislation to help achieve President Bola Tinubu's goal of a $1 trillion economy by 2030. The reform includes the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill. Senator Sani Musa assured that all stakeholder viewpoints would be considered to create practical and beneficial legislation. A retreat involving experts and the Attorney General's office will ensure alignment with the Nigerian Constitution. Meanwhile, the House of Representatives is advocating for tax exemptions for Persons Living With Disabilities (PLWDs) and tax relief for companies employing them or manufacturing facilities used by them. Chairman Bashiru Dawodu emphasized the need for tax credits and waivers for companies producing equipment for PWDs, scholarships for special education teachers, and a disability trust fund. He also noted the slow implementation of the 2018 Disability Act and the House's efforts to amend it with stricter penalties.