ABUJA – The National Economic Council (NEC) has urged the presidency to withdraw the recently proposed Tax Reforms Bill from the National Assembly, citing a need for broader consultations and consensus-building among stakeholders. This call was made following the 144th NEC meeting at the State House in Abuja, attended by members of the Nigerian Governors Forum (NGF).
Oyo State Governor, Seyi Makinde, who addressed the press after the meeting, noted that the decision was made to foster greater understanding and alignment on the bill across Nigeria.
“We believe that allowing time for wider consultation will ensure that all stakeholders are on the same page regarding this bill,” Makinde said.
“It’s essential that Nigerians understand and agree on any reforms that impact the nation’s tax system.”
The Federal Executive Council (FEC), chaired by President Bola Tinubu, had previously endorsed the tax reform initiatives as part of an effort to streamline Nigeria’s tax administration and eliminate redundancies. However, the reforms have sparked resistance, particularly among northern elites, who have voiced concerns about potential impacts on regional economies.
The proposed reforms, introduced in August 2023, aim to overhaul and modernize existing tax laws. According to the Federal Government, the measures are designed to enhance efficiency within Nigeria’s tax operations and reduce waste.
