The National Economic Council, comprising members of the Nigerian Governors Forum has advised the presidency to withdraw the Tax Reforms Bill from the National Assembly. They made the appeal hinging it on the need to allow for wider consultations and consensus building among stakeholders.
Oyo State Governor, Seyi Makinde, said this formed part of resolutions reached at the 144th meeting of the National Economic Council at the State House, Abuja. Makinde explained that the Council members resolved that it was necessary to allow for consensus building and understanding of the bill among Nigerians.
Recall that the Federal Executive Council recently presided over by President Bola Tinubu had endorsed the new policy initiatives to streamline Nigeria’s tax administration processes. While the Federal Government believes the new laws are meant to enhance efficiency and eliminate redundancies across the nation’s tax operations, the northern elites are not favourably disposed to it. The reforms emerged after a review of existing tax laws since August 2023. More details later...
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