By Smart Emmanuel
Nigeria’s economic thinktank, National Economic Council, has urged President Bola Tinubu to withdraw from the National Assembly, the Tax Reforms Bills, to allow room for wider consultations and consensus.
This was part of the decisions taken at the 144th meeting of the National Economic Council at the Aso Rock Villa, Abuja, on Thursday.
“NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bills,” said Governor Seyi Makinde of Oyo State, while addressing journalists.
He said the council members resolved that it was necessary to allow for consensus building and understanding of the bills among Nigerians.
Gov. Makinde said the decision was made for the benefit of the country and emphasized the need for further consultations regarding the bills.
“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 says 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 decision came days after the Northern Governors kicked against the reform bills.
At a meeting on October 28, 2024, Governors of the 19 Northern States, under the platform of the Northern Governors’ Forum, rejected the new derivation-based model for Value-Added Tax distribution in the new tax reform bills before the National Assembly.
A communiqué read by the Chairman of the forum, Governor Muhammed Yahaya of Gombe State, said the proposition negates the interest of the North and other sub-nationals.
