The National Economic Council (NEC) has expressed reservations over the Tax Reform Bill forwarded by President Bola Tinubu to the National Assembly.
The bill was forwarded to NASS based on the report and recommendations of the Presidential Committee on Fiscal and Tax Reforms set up by the President to help boost revenue generation in the country.
NEC unanimously called for the withdrawal of the bill.
This was part of the resolutions reached during the National Economic Council meeting chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja.
Briefing State House Correspondents after the meeting, the governors noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.
Governor Seyi Makinde of Oyo State who briefed journalists said NEC observed that adequate consultations needed to be made to get the views of stakeholders including the state governors to ensure that the law is favourable to all Nigerians.
“NEC today took a presentation from the Chairman of the Presidential Committee on fiscal policy and tax reforms. Their main focus is fair taxation, responsible borrowing, and sustainable spending,” he said.
“The Council acknowledged that the country is underperforming on all indices as regards yield from major revenue sources, also tax to GDP ratio and so on.
