President Bola Tinubu has rejected the recommendation by the National Economic Council (NEC) for the Tax Reform Bill to be withdrawn from the National Assembly for further consultations.
Northern governors had expressed reservations about the bill, stating that it puts the northern region at a disadvantage.
On Thursday after the NEC’s 144th meeting, Oyo State Governor Seyi Makinde said council members agreed that the bill be withdrawn as some sections of the country are uncomfortable with some of its sections. He said this would allow for consensus building and understanding.
The meeting was chaired by Vice President Kashim Shettima at the State House, Abuja.
However, in a statement on Friday released by Bayo Onanuga, President Tinubu insisted that while the legislative process takes its course, inputs and changes can be made without withdrawing the bill from the National Assembly.
The statement said, “President Bola Tinubu has received the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.
“President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice. He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.
“While urging the NEC to allow the process to take its full course, President Tinubu welcomed further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage.”
Tinubu and the Federal Executive Council recently sponsored a bill to restructure and streamline tax processes, establish a unified revenue service, and simplify financial obligations for businesses and citizens.
The reforms stemmed from a months-long review of existing tax laws by the Taiwo Oyedele-led committee inaugurated in August 2023. The committee’s recommendations were harmonised into four executive bills.
They include the Nigeria Tax Bill, which aims to eliminate unintended multiple taxation and make Nigeria’s economy more competitive by simplifying tax obligations for businesses and individuals nationwide.
Second, the Nigeria Tax Administration Bill proposes new rules governing the administration of all taxes in the country. Its objective is to harmonise tax administrative processes across federal, state and local jurisdictions to ease taxpayers’ compliance in all parts of the country.
Third, the Nigeria Revenue Service (Establishment) Bill seeks to rename the Federal Inland Revenue Service as the Nigeria Revenue Service to better reflect the mandate of the Service as the revenue agency for the entire federation, not just the Federal Government.
Fourth, the Joint Revenue Board Establishment Bill proposes the creation of a Joint Revenue Board to replace the Joint Tax Board, covering federal and all states’ tax authorities.
The fourth bill also suggests establishing the Office of Tax Ombudsman under the Joint Revenue Board, serving as a complaint resolution body for taxpayers.
 for the Tax Reform Bill){kind=link}