National Telescope national telescope newspaper
President Bola Ahmed Tinubu has decided not to withdraw the four tax reform bills currently before the National Assembly, despite recommendations from the National Economic Council (NEC).
This announcement was made by presidential spokesperson Bayo Onanuga on Friday.
Onanuga stated that President Tinubu values the NEC’s input but believes the legislative process should continue, allowing for necessary changes and public input without halting the bills. He emphasized that the legislative discussions provide a platform for further consultation with stakeholders.
The NEC, chaired by Vice President Kashim Shettima, had advised withdrawing the bills to facilitate broader consultations, particularly after concerns were raised by the Northern Governors Forum. During a press briefing, Governor Seyi Makinde of Oyo State reiterated the NEC’s call for a more inclusive dialogue to build consensus around the proposed reforms.
The bills aim to overhaul Nigeria’s tax system by creating a central revenue service to manage government collections and reallocating Value Added Tax (VAT) revenues more favorably to states where they are generated—a move that has sparked concerns among northern leaders.
Onanuga noted that the President welcomes ongoing consultations to address any concerns while the National Assembly reviews the proposals. The reform initiative, set in motion by the Presidential Committee on Tax and Fiscal Policy Reform established in August 2023, seeks to enhance the country’s economic productivity and investment climate.
The four bills under consideration include:
- Nigeria Tax Bill: Aims to simplify tax obligations and eliminate multiple taxation.
- Nigeria Tax Administration Bill (NTAB): Proposes harmonizing tax administration across all levels of government.
- Nigeria Revenue Service (Establishment) Bill: Seeks to reestablish the Federal Inland Revenue Service as the Nigeria Revenue Service.
- Joint Revenue Board Establishment Bill: Proposes creating a Joint Revenue Board and an Office of Tax Ombudsman to protect taxpayer interests.
These reforms are designed to streamline tax administration and align it with global best practices, addressing longstanding inefficiencies in the system.
