The National Economic Council (NEC), which includes the Nigerian Governors Forum, has advised the presidency to retract the Tax Reforms Bill from the National Assembly.
They suggested this move to enable broader consultations and build consensus among key stakeholders.
According to Oyo State Governor Seyi Makinde, this decision was part of the resolutions at the 144th NEC meeting held at the State House in Abuja.
Governor Seyi Makinde stated that the National Economic Council (NEC) believes that consensus-building and public understanding are crucial for the new Tax Reforms Bill.
While the Federal Executive Council, led by President Bola Tinubu, recently endorsed the reforms to improve tax efficiency and reduce redundancy, some northern elites are reportedly opposed.
The NEC hopes that withdrawing the bill will allow for broader consultation to address concerns and refine the policy to better serve national interests.
The reforms emerged after a review of existing tax laws since August 2023.
Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.