President Tinubu To NEC: No Need To ‘Withdraw’ Tax Reform Bills Coz NASS Has ‘Amending Power’

President Bola Tinubu has made his position known on the advice offered by the National Economic Council (NEC) on Friday urging him to withdraw the four bills he had sent to the legislature seeking to revolutionize tax system in the country.

Recall that the National Economic Council (NEC)  had on Thursday asked  the president  to suspend action and withdraw the bills in question from the National Assembly in order to carry out a ‘wide consultation’ on them.

Governor Seyi Makinde of Oyo State, who disclosed this after the 144th meeting of the National Economic Council at the State House, Abuja, added that this was part of the resolutions and decisions taken during the meeting.

He added that the council members agreed that there is a need to allow for consensus building and proper understanding of the bills by Nigerians.

‘NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bills.

We saw the gap and decided that there is a need for a wide consultation’ he said..

Recall also  that the 19 Northern Governors had met on October 28, 2024, and declared opposition to the bills. They specifically rejected the new derivation-based model for Value-Added Tax distribution in the new bills.

The northern governors in a communiqué that was read out by their chairman, Governor Muhammed Yahaya of Gombe State, said what is contained in the proposed bills negates the interest of the North and other sub-nationals.

President Bola Tinubu however submitted on Friday that there would be no need to withdraw the tax reform bills from the National Assembly as recommended by the National Economic Council arguing that with the legislative process already in motion, inputs and necessary changes can be made without withdrawing the bills from the legislature.

Team@orientactualmags.com learned that the president made his position known on the issue through his Special Adviser on Information and Strategy, Mr  Bayo Onanuga on Friday.

Onanuga in a statement he issued in Abuja titled ‘Proposed tax reforms bills should go through the legislative process; inputs can be made at public hearings’, noted that doing what the NEC had recommended is unnecessary cognizant that the legislature has ‘amending power’.

‘President Bola Tinubu has received the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.

President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice.

He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.

While urging the NEC to allow the process to take its full course, President Tinubu welcomes further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage’ the statement said-Team@orientactualmags.com   Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com.  Thank you.