The National Economic Council (NEC), comprising members of the Nigerian Governors Forum, has urged President Bola Tinubu to withdraw the Tax Reforms Bill from the National Assembly.
This decision was reached during the 144th NEC meeting held at the State House in Abuja, as disclosed by Oyo State Governor, Seyi Makinde.
The governors are advocating for wider consultations and consensus building among stakeholders before proceeding with the bill.
According to Governor Makinde, “it was necessary to allow for consensus building and understanding of the bill among Nigerians.”
The Tax Reforms Bill was endorsed by the Federal Executive Council, chaired by President Tinubu, with the aim of streamlining Nigeria’s tax administration processes. The goal is to enhance efficiency and eliminate redundancies in tax operations nationwide.
However, the northern elites have expressed reservations about the proposed reforms. Their concerns may be addressed through the wider consultations suggested by the NEC.
It’s worth noting that these reforms are a result of a thorough review of existing tax laws that began in August 2023.
