Despite opposition by Northern govs and NEC, Tinubu says Tax bills won’t be withdrawn from N’Assembly

Saturday, 02 November 2024 05:01

Despite opposition by Northern govs and NEC, Tinubu says Tax bills won’t be withdrawn from N’Assembly

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Despite opposition by Northern govs and NEC, Tinubu says Tax bills won’t be withdrawn from N’Assembly

President Bola Tinubu has said that the tax reform bills will remain in the national assembly, despite a recommendation from the National Economic Council (NEC) to withdraw them. In a statement on Friday, Bayo Onanuga, the president’s special adviser on information and strategy, said that Tinubu acknowledged the NEC’s suggestion but emphasized the importance of allowing the legislative process to continue.

On October 3, Tinubu urged the national assembly to consider and pass four key tax reform bills, which include the Nigeria Tax Bill, the Tax Administration Bill, and the Joint Revenue Board Establishment Bill. Additionally, he is advocating for the repeal of the current law establishing the Federal Inland Revenue Service (FIRS) in favor of a new Nigeria Revenue Service.

The Northern States Governors Forum (NSGF) has expressed opposition to these proposed bills, following a meeting with the northern traditional rulers council on October 28. The governors requested that the national assembly reject any legislation that could harm the interests of the northern region, insisting on fair and equitable implementation of national policies to avoid marginalization.

In response to the governors’ concerns, the presidency assured that the proposed laws were not intended to disadvantage any part of the country, but rather to enhance the lives of Nigerians and improve existing tax frameworks. Following this, the NEC reiterated its call for Tinubu to withdraw the bills to allow for further consultations.

However, Onanuga stated that the president believes the legislative process, which is already underway, offers an opportunity for necessary modifications without the need for withdrawal. “President Tinubu commends the members of the National Economic Council, especially Vice President Kashim Shettima and the 36 State Governors, for their insights,” he noted.

Tinubu remains open to additional consultations with key stakeholders to address any concerns as the national assembly reviews the bills. He established the Presidential Committee on Tax and Fiscal Policy Reform in August 2023 with the aim of enhancing economic productivity and creating a more favorable environment for investment. This goal remains a priority today, the president said.