The National Economic Council (NEC) on Thursday told President Bola Tinubu to immediately withdraw his Tax Reforms Bill from the National Assembly to allow for wider consultations and consensus building.
NEC’s call to the president came three days after Northern governors kicked against the Tax Reforms Bill, contending that the derivation model for Value Added Tax distribution in the proposed law was unfavourable to the North.
President Tinubu had introduced new policy initiatives to streamline Nigeria’s tax administration processes, which four tax bills would give legal teeth to enhance efficiency and eliminate redundancies in the nation’s tax operations.
Oyo State Governor, Seyi Makinde said while briefing State House correspondents at the end of the 144th NEC meeting chaired by Vice President Kashim Shettima, at the Council Chamber, Presidential Villa, Abuja that they advised Tinubu to withdraw the bill.
The Oyo governor said that the NEC members agreed that it was necessary to allow for consensus building and understanding of the bill among Nigerians.
“NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the Tax Reforms Bill.”
He said that the decision was made for the benefit of the entire country and emphasised the need for further consultations regarding the bill.
Makunde added, “We saw the gap and decided that there is a need for a wider consultation”.