By Damilare Adeleye
The National Economic Council (NEC) has advised President Bola Tinubu to immediately withdraw the Tax Reforms Bill from the National Assembly to allow for wider consultations and consensus building.
The NEC is chaired by Vice-President Kashim Shettima and includes all state governors as members.
Governor Seyi Makinde of Oyo State disclosed this while briefing State House correspondents at the end of the 144th NEC meeting at the Council Chamber, Presidential Villa, Abuja.
Makinde explained that the council members agreed that it was necessary to allow for consensus building and understanding of the bill among Nigerians.
He said, “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill.”
Makinde added that this decision was made for the benefit of the entire country and emphasized the need for further consultations regarding the bill.
“We saw the gap and decided that there is a need for a wider consultation.”
He added.President Bola Tinubu and the Federal Executive Council recently endorsed new policy initiatives to streamline Nigeria’s tax administration processes.
The Federal Government had said that the new laws are meant to enhance efficiency and eliminate redundancies across the nation’s tax operations.
The reforms emerged after a review of existing tax laws since August 2023. The National Assembly is considering four executive bills containing these tax reform efforts.
NEC’s recommendation came days after the Northern Governors kicked against the reform bill.