President Bola Tinubu has opposed the National Economic Council’s (NEC) recommendation to withdraw the tax reform bills currently causing debate. At NEC’s 144th meeting, chaired by Vice President Kashim Shettima, the council suggested withdrawing the bills following concerns raised by northern governors and traditional rulers, who argued that the Nigeria Tax Reform Bill could negatively impact the North and other regions, particularly due to proposed changes to the Value Added Tax (VAT) distribution,Daily Trust reports.
President Tinubu had initially submitted four tax reform bills to the National Assembly on September 3 through a letter addressed to Speaker Abbas Tajudeen, which was read in plenary. These bills—the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill—aim to establish a streamlined fiscal framework, clarify tax administration, create the Nigeria Revenue Service, and establish a tax tribunal and ombudsman.
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In a statement released by media aide Bayo Onanuga, Tinubu asked NEC to allow the legislative process to proceed, expressing confidence that lawmakers could incorporate changes through public input without pulling the bills. Tinubu commended NEC members for their advice and welcomed further consultations with key stakeholders to address concerns while allowing the National Assembly to evaluate the bills.
The president explained that his tax reform bills, developed by the Presidential Committee on Tax and Fiscal Policy Reform, are intended to enhance Nigeria’s economic productivity, attract investment, and improve the business climate. The committee conducted extensive consultations across various sectors and regions, with input from government ministries, trade associations, professional bodies, and the private sector, resulting in reforms designed to align Nigeria’s tax system with global standards.
