Economic reforms yielding positive results — Senator

The Chairman of the Senate Committee on ICT and Cybersecurity, Senator Shuaibu Afolabi Salisu, says the economic reforms of the current administration are yielding positive results. He said the foreign exchange rate has stabilised significantly compared to this time last year. Salisu spoke while disbursing N100,000 each to 250 Egba market traders under his empowerment […]

The Chairman of the Senate Committee on ICT and Cybersecurity, Senator Shuaibu Afolabi Salisu, says the economic reforms of the current administration are yielding positive results.

He said the foreign exchange rate has stabilised significantly compared to this time last year.

Salisu spoke while disbursing N100,000 each to 250 Egba market traders under his empowerment scheme tagged “Okowo Salisu Market Women in Ogun Central.” 

Salisu cited the recent passage of the Tax Reform Bills, which he said provide exemptions for low-income earners and harmonise federal, state, and local levies to make the business environment more predictable and investor-friendly.

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“The reforms aim to ensure that those who earn more contribute more, while those earning below a set threshold get relief. We’re also harmonising taxes to reduce bottlenecks and inefficiencies in the system,” he said.

Salisu added that the empowerment was designed to move market women from the informal to the formal economy by providing traders with capital onboarding them into the financial system.

“Women are the nucleus of the family; they are the economic backbone of the family. If you empower a woman, you’ve empowered a family,” the Senator said.