Amid rising concerns around proposed tax reform bills, President Bola Tinubu affirmed that the bills will remain before the National Assembly and proceed through the legislative process, despite calls for their withdrawal.
Special Adviser on Information and Strategy, Bayo Onanuga, shared that President Tinubu acknowledged the National Economic Council’s (NEC) suggestion to retract the bills for additional consultations.
However, Tinubu maintained that stakeholder input could be integrated through amendments in the legislative process rather than withdrawal.
President Tinubu expressed appreciation for NEC’s recommendations, particularly recognizing the contributions of Vice President Kashim Shettima and Nigeria’s 36 governors.
“The legislative process allows for input and necessary adjustments without halting progress,” the statement read, inviting further engagement with stakeholders to address concerns.
NEC members, during a meeting chaired by Vice President Shettima, expressed reservations about certain aspects of the proposed reforms, especially the need for thorough consultation to align with stakeholders.
Oyo State Governor Seyi Makinde, briefing journalists after the meeting, highlighted NEC’s emphasis on fair taxation, responsible borrowing, and sustainable spending.
He added that adequate consultations with state governors are essential to ensure the reforms support Nigerians’ interests.
Earlier, the Northern Governors Forum voiced concerns over the tax reform bills, specifically regarding the proposed VAT-sharing model, which they argued could unfairly disadvantage northern states.
Governor Inuwa Yahaya of Gombe, who chairs the Forum, said the current VAT structure which allocates VAT payments based on company headquarters rather than the location of goods and services places northern states at a disadvantage.
The Forum urged northern lawmakers to reject the bills, calling for a fair approach that balances regional interests and national growth.
The tax reform bills were drafted based on recommendations from the Presidential Committee on Fiscal and Tax Reforms, established by Tinubu in August to strengthen revenue generation.
The President underscored the committee’s aim to enhance economic productivity and create a more business-friendly environment, which remains a priority amid ongoing legislative discussions.
