Th

e National Economic Council (NEC) has recommended the withdrawal of the Tax Reforms Bill from the National Assembly to President Bola Tinubu to allow for wider consultations.

Disclosing this to journalists at the end of the 145th NEC meeting at the State House, Abuja, Oyo Governor Seyi Makinde, said this formed part of resolutions reached at the meeting.

Makinde said Council members agreed that it was necessary to allow for consensus building and understanding of the bill among Nigerians.

“NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill,” he stated.

Makinde added that this decision was for the benefit of the country and emphasised the need for further consultations regarding the bill.

“We saw the gap and decided that there is a need for a wider consultation,” he added.

NEC’s decision is coming days after Northern Governors kicked against the reform bill and counter explanation by the presidency that the bill was not against the North.

At a meeting on October 28, the Northern Governors’ Forum, rejected the new derivation-based model for Value-Added Tax distribution in the new tax reform bills before the National Assembly.

Credit: The Nation