President Bola Tinubu has maintained that the Tax Reform Bill, despite calls for its withdrawal by the National Economic Council (NEC), will not be retracted from the National Assembly. This stance was relayed by his Special Adviser on Information and Strategy, Bayo Onanuga, who emphasized that the legislative process should address any reservations.
Tinubu received NEC’s recommendation for withdrawal to allow further consultation among stakeholders. While expressing gratitude to NEC members, especially Vice President Kashim Shettima and the 36 state governors, Tinubu noted the importance of the ongoing legislative review, highlighting that it provides an avenue for necessary input and adjustments.
In his statement, Tinubu reiterated his goal for the tax reform, initiated in August 2023, which aims to boost economic productivity and foster a more investment-friendly environment. He encouraged NEC and stakeholders to allow the process to unfold fully, committing to further consultations to align the bill’s provisions with national interests.
READ ALSO: NEC Opposes Tinubu’s Tax Reform Bill, Calls for Withdrawal and Further Consultation
The NEC, led by Shettima, had unanimously advised withdrawing the bill, citing the need for adequate alignment with all stakeholders. Governor Seyi Makinde of Oyo State conveyed the council’s concerns, pointing out that the country’s revenue and tax-to-GDP ratio are underperforming, which the reforms aim to address.
Meanwhile, the Northern Governors’ Forum rejected specific provisions within the tax reform, particularly the proposed VAT-sharing model, arguing that it disadvantages their region.
