Like Northern Governors, NEC Calls For Withdrawal Of Tax Reform Bill
Few days after Northern Governors rejected the controversial tax reform bill forwarded by President Bola Tinubu to the National Assembly, the National Economic Council (NEC) has also expressed reservations over the policy.
President Tinubu had forwarded the bill to the National Assembly following the report and recommendations of the Presidential Committee on Fiscal and Tax Reforms set up to help boost revenue generation in the country.
The unanimous call for the withdrawal of the bill was part of the resolutions reached during the National Economic Council meeting chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja.
Speaking with State House Correspondents after the meeting, the governors noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.
Governor Seyi Makinde of Oyo State who spoke on behalf of the Governors said NEC observed that adequate consultations have to be made to get the views of stakeholders including the state governors to ensure that the law is favourable to all Nigerians.
“NEC today took a presentation from the Chairman of the Presidential Committee on fiscal policy and tax reforms. Their main focus is fair taxation, responsible borrowing, and sustainable spending,” he said.
“The Council acknowledged that the country is underperforming on all indices as regards yield from major revenue sources, also tax to GDP ratio and so on.
“So after extensive deliberation, NEC noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.
“So Council, therefore, recommend the need to withdraw the bill currently before the National Assembly on tax reforms so that we can have wider consultations and also build consensus around these reforms for the benefit of the entire country, and also to give people, for them to know the vision and where we are moving the country in terms of a tax reform because there’s really a lot of miscommunication, misinformation,” Governor Makinde said.
