The National Economic Council (NEC) has advised President Bola Tinubu to withdraw the Tax Reforms Bill currently under consideration in the National Assembly. The recommendation aims to allow for broader consultations to address public concerns and achieve greater consensus on the bill.
Oyo State Governor Seyi Makinde shared this update after the conclusion of the 145th NEC meeting held at the State House in Abuja. He highlighted the need for more public engagement to align interests across the nation, stating, “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill.”
Makinde emphasized that the decision reflects the council’s dedication to ensuring the bill aligns with national interests. “We saw the gap and decided that there is a need for wider consultation,” he added.
This recommendation follows recent opposition from Northern Governors, who, during an October 28 meeting, voiced concerns over the bill’s derivation-based model for distributing Value-Added Tax (VAT) revenues. In response, the presidency assured that the bill was not intended to target any region.
