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The National Economic Council (NEC) on Thursday advised President Bola Tinubu to withdraw the proposed Tax Reform Bill from the National Assembly to enable further consultations and consensus-building.
Oyo State Governor Seyi Makinde revealed this decision while briefing State House correspondents after the 144th NEC meeting, chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.
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EKO HOT BLOG reports that Makinde stated that NEC members agreed on the need for broader alignment and understanding of the bill among Nigerians to ensure a unified approach to tax reform.
Makinde explained, “NEC noted the necessity for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill for wider consultation.”
He emphasized that the decision reflects the council’s intent to secure a comprehensive national benefit from the reforms.
Tax Bill NEC Tinubu
This recommendation follows recent initiatives by President Tinubu and the Federal Executive Council, which aimed to streamline Nigeria’s tax administration, eliminate redundancies, and improve efficiency.
The Federal Government had endorsed these policy initiatives after reviewing tax laws since August 2023, resulting in four executive bills currently under National Assembly consideration.
The NEC’s recommendation comes shortly after the Northern Governors’ Forum, representing governors from Nigeria’s 19 northern states, voiced opposition to the bill’s proposed derivation-based Value-Added Tax (VAT) distribution model.
During a meeting on October 28, 2024, the forum’s chairman, Governor Muhammed Inuwa Yahaya of Gombe State, announced that the northern governors found the derivation model unfavorable to the interests of the North and other sub-national regions.
The council’s call for broader consultation reflects a significant step towards refining the tax reform framework for national acceptance and benefit.
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