NEC Recommends Withdrawal Of Tax Reform Bills

In the wake of the controversies surrounding the tax reform bill already at the National Assembly, the National Economic Council (NEC) has recommended its withdrawal.

Naija News reports that NEC, headed by Vice-President Kashim Shettima, has governors as members.

Speaking with state House journalists after the NEC meeting on Thursday, Oyo State Governor, Seyi Makinde, said following the controversies that arose due to the bills, NEC recommended its withdrawal so that stakeholders would be better carried along.

Makinde stated that this decision was made for the benefit of the country and emphasized the need for further consultations regarding the bills.

He said, “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bills. We saw the gap and decided that there is a need for a wider consultation.”

Tax Reform Bill Not Against The North

Meanwhile, the Bola Ahmed Tinubu-led administration has stated that the proposed tax reform bills is not against the north, adding that the bill will benefit all states.

Naija News reports that this was made known in a statement on Thursday by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga.

Recall that Governors of 19 Northern States of Nigeria, under the platform of the Northern Governors’ Forum, at their meeting on Monday, October 28, 2024, expressed their opposition to the new derivation-based model for Value-Added Tax (VAT) distribution in the new tax reform bills before the National Assembly.

Chairman of the forum, Governor Muhammed Inuwa Yahaya of Gombe State, read the communiqué.

The Northern Governors’ Forum meeting also had traditional rulers from the region, led by the Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar III, in attendance.