President Bola Tinubu has resisted a recommendation by the National Economic Council (NEC) to withdraw the tax reform bills that have stirred public debate.
The Northern Governors’ Forum recently expressed opposition to the bills, asserting that they did not align with the interests of the northern region. Following its Thursday meeting, the NEC recommended that the bills be pulled back for further consultation.
However, in a Friday statement released by his media aide, Bayo Onanuga, Tinubu urged NEC to allow the legislative process to proceed without interruption.
“President Bola Tinubu has received the National Economic Council’s recommendation that the tax reform bills already submitted to the National Assembly be withdrawn for further consultation,” the statement read. “While he appreciates the advice from NEC members, particularly Vice President Kashim Shettima and the 36 state governors, he believes that the ongoing legislative process offers ample opportunity for input and adjustments without the need to withdraw the bills from the National Assembly.”
Tinubu emphasized that NEC should let the process play out fully, welcoming additional consultations and stakeholder engagement to address any concerns as the bills move through the National Assembly.
The president noted that further contributions could be made during public hearings, underscoring the extensive groundwork already completed by the tax reform committee.
“When President Tinubu established the Presidential Committee on Tax and Fiscal Policy Reform in August 2023, his primary objective was to enhance the economy’s productivity and efficiency while creating a more favorable environment for investment and business operations,” Onanuga stated. “This goal remains more relevant now than ever.”
He detailed that the committee’s work spanned over a year, incorporating feedback from diverse segments across the nation, including trade associations, professional organizations, ministries, agencies, governors, traders, students, business owners, and the private sector.
The proposed tax reforms, now before the National Assembly, aim to streamline Nigeria’s tax administration, revamp the country’s tax systems, and align them with international standards and best practices.
