NEC recommends withdrawal of tax reform bills

Following the controversies surrounding the tax reform bill currently in the National Assembly, the National Economic Council (NEC) has recommended that it be withdrawn.

According to reports, NEC, chaired by Vice-President Kashim Shettima, includes governors as members.

Speaking with state House journalists after the NEC meeting on Thursday, Oyo State Governor, Seyi Makinde, said following the controversies that arose due to the bills, NEC recommended its withdrawal so that stakeholders would be better carried along.

More details to come…

In other news, the Bola Ahmed Tinubu-led administration has stated that the proposed tax reform bills is not against the north, adding that the bill will benefit all states.

According to reports, this was made known in a statement on Thursday by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga.

Recall that Governors of 19 Northern States of Nigeria, under the platform of the Northern Governors’ Forum, at their meeting on Monday, October 28, 2024, expressed their opposition to the new derivation-based model for Value-Added Tax (VAT) distribution in the new tax reform bills before the National Assembly.

Chairman of the forum, Governor Muhammed Inuwa Yahaya of Gombe State, read the communiqué.

The Northern Governors’ Forum meeting also had traditional rulers from the region, led by the Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar III, in attendance.