President Bola Tinubu has rejected the National Economic Council’s recommendation to withdraw the tax reform bills from the National Assembly for further consultation.
Instead, 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.
The President’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, revealed the President’s position through a statement titled ‘Proposed tax reforms bills should go through the legislative process; inputs can be made at public hearings.’
The statement commended the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice.
The National Economic Council, Nigeria’s highest economic advisory body, had requested that the tax reforms bill be withdrawn from the NASS for more consultations.
Oyo State Governor, Seyi Makinde announced the council’s position on Thursday after its 144th meeting chaired by Vice President Kashim Shettima at the State House, Abuja.
President Bola 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 Presidency also faulted the Governors’ proposal for more consultations, saying the Taiwo Oyedele-led tax reforms committee has consulted far and wide in the past 14 months.
Onanuga said that the bills’ overarching objective is to effectively coordinate federal, state, and local tax authorities, thereby eliminating the overlapping responsibilities, confusion, and inefficiency that have plagued tax administration in Nigeria for decades.
