NEC Urges Tinubu To Withdraw Tax Reforms Bill Before National Assembly
The council’s position was disclosed by the Oyo State Governor, Seyi Makinde, while briefing newsmen at the State House on Thursday.
The National Economic Council (NEC) has informed President Bola Tinubu to stop the ongoing plan to enact the Tax Reforms Bill.
The council’s position was disclosed by the Oyo State Governor, Seyi Makinde, while briefing newsmen at the State House on Thursday.
The governor said the NEC directive to President Tinubu to immediately withdraw the Tax Reforms Bill from the National Assembly was to allow for wider consultations and consensus building.
The governor was quoted by Vanguard Newspaper saying: “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill.”
“We saw the gap and decided that there is a need for a wider consultation,” he added.
Recall that following a meeting on 28 October 2024, the 19 Northern governors, under the Forum’s platform, had expressed opposition to the derivation-based Value-Added Tax (VAT) distribution model proposed in the bills, stating that it “negates the interest of the North and other sub-nationals.”
Meanwhile, The Bola Tinubu Presidency had assured Nigerians that the new tax reform bills before the National Assembly were designed to benefit all states, despite concerns of marginalisation raised by the Northern Governors’ Forum.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, had on Thursday released an “explainer” titled “Proposed tax reform bills not against the north; they will benefit all states” to clarify the Presidency’s stance.
He had stated, “It is instructive to note that these proposed laws will not increase the number of taxes currently in operation. Instead, they are designed to optimise and simplify existing tax frameworks.”
