President Tinubu Rejects Call to Withdraw Tax Reform Bills Amid Ongoing Legislative Process

President Bola Tinubu announced on Friday that there is no need to withdraw the tax reform bills currently before the National Assembly, despite a recommendation from the National Economic Council (NEC) to do so. Tinubu emphasized that the legislative process is already underway, allowing for necessary inputs and amendments without the need for withdrawal.

This position was communicated through a statement by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga. The statement, titled “Proposed Tax Reforms Bills Should Go Through the Legislative Process; Inputs Can Be Made at Public Hearings,” outlined the President’s rationale.

“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the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation,” the statement noted. It continued to underscore the President’s belief in the current legislative process as a platform for meaningful contributions to the bills.

Tinubu commended the NEC members, particularly Vice President Kashim Shettima and the 36 State Governors, for their insights. He remarked that the ongoing legislative discussions provide an opportunity to address concerns and make adjustments without halting progress on the bills.

While encouraging the NEC to allow the process to unfold, the President also welcomed further engagement with key stakeholders. He stated that this dialogue would help address any reservations about the tax reform proposals as they are considered by the National Assembly.

The President’s response came shortly after the NEC’s 144th meeting, where the council recommended withdrawing the bills to facilitate more comprehensive consultations. Oyo State Governor Seyi Makinde, who announced this recommendation, emphasized the need for consensus-building around the proposed reforms.

Makinde highlighted that the NEC had received a presentation from the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, focusing on principles such as fair taxation and sustainable spending. “After extensive deliberation, NEC noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms,” he stated.

The Governor expressed concerns about the current understanding of the bills among Nigerians, noting that misinformation could hinder the reform process. He stressed the importance of building consensus for the benefit of the entire country, saying, “There is a lot of miscommunication, misinformation.”