The National Economic Council (NEC) has advised President Bola Tinubu to withdraw the Tax Reforms Bill from the National Assembly to facilitate broader consultations.
This recommendation was shared with reporters following the 145th NEC meeting at the State House in Abuja, as explained by Oyo Governor Seyi Makinde.
Makinde emphasised the importance of achieving consensus and enhancing understanding of the bill among the populace.
“The Council recognised the necessity for alignment on the proposed reforms, which led to the recommendation for the bill’s withdrawal,” he noted.
He stressed that this step is in the country’s best interest and underscored the need for further dialogue on the matter.
“We identified the gaps and agreed that wider consultation is essential,” he added.
This move comes in the wake of opposition from Northern Governors, who recently expressed their disapproval of the reform bill.
At their meeting on October 28, the Northern Governors’ Forum rejected the new derivation-based model for Value-Added Tax distribution outlined in the bill, countering the Presidency’s claims that it did not disadvantage the North.
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