National Economic Council Urges Tinubu To Withdraw Tax Reforms Bill Before National Assembly
The National Economic Council (NEC) has advised President Bola Tinubu to halt the ongoing push to enact the Tax Reforms Bill.
This recommendation was shared by Oyo State Governor, Seyi Makinde, during a press briefing at the State House on Thursday. According to Governor Makinde, the NEC urged President Tinubu to withdraw the bill from the National Assembly to allow for broader consultation and consensus-building on the proposed reforms.
Governor Makinde, as reported by Vanguard Newspaper, stated, “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill.” He emphasized the importance of addressing any gaps, adding, “We saw the gap and decided that there is a need for wider consultation.”
Earlier, on October 28, 2024, the 19 Northern governors, through the Northern Governors’ Forum, had expressed their concerns over the derivation-based Value-Added Tax (VAT) distribution model proposed in the bill, arguing that it “negates the interest of the North and other sub-nationals.”
In response, the Tinubu administration reassured Nigerians that the new tax reform bills were crafted to benefit all states, despite concerns of marginalization from the Northern Governors’ Forum. On Thursday, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, released an explanatory note titled “Proposed tax reform bills not against the north; they will benefit all states.” Onanuga clarified that the bills would not introduce additional taxes but rather aim to optimize and simplify the current tax framework.
