President Bola Tinubu announced on Friday that there is no need to withdraw the tax reform bills from the National Assembly, countering the recommendation from the National Economic Council for more comprehensive consultations.
He suggested that the legislative process already in progress provides ample opportunity for any necessary adjustments to be made without halting the bills’ advancement in the legislature.
This position was conveyed in a statement from Tinubu’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, titled, “Proposed tax reforms bills should go through the legislative process; inputs can be made at public hearings.”
According to the statement, Tinubu appreciated NEC’s recommendation and praised the efforts of the council members, particularly Vice President Kashim Shettima and the 36 state governors, in working towards a robust fiscal policy.
Onanuga’s statement read, “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the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.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.”
The President’s statement follows NEC’s decision, announced barely 24 hours earlier, requesting that the tax reforms bill be pulled from the National Assembly to facilitate broader stakeholder engagement.
The council, Nigeria’s highest economic advisory body, raised concerns that a pause in the legislative process could allow for better alignment and understanding of the reforms among Nigerians.
Oyo State Governor Seyi Makinde, who shared NEC’s resolution with journalists after the council’s 144th meeting at the State House in Abuja, explained that the council was focused on ensuring fair taxation, responsible borrowing, and sustainable spending.
According to Makinde, “Today, NEC took a presentation from the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. The primary focus is fair taxation, responsible borrowing and sustainable spending. After extensive deliberation, NEC noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.”
He further stated that NEC recommended a withdrawal of the tax reform bills from the National Assembly to allow for broader consensus-building and to better communicate the vision and intent behind these reforms.
Makinde said, “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 tax reform, because there is a lot of miscommunication, misinformation.”
In response, President Tinubu underscored the importance of allowing the legislative process to continue, while encouraging NEC to maintain its consultations and interactions with key stakeholders to resolve any concerns. Tinubu emphasized that these additional engagements would be beneficial as the National Assembly considers the bills for passage.
