36 Governors Say No Tinubu Administration Defends Controversial Tax Overhaul

36 Governors Say No Tinubu Administration Defends Controversial Tax Overhaul

The 36 state governors have called on President Bola Tinubu to withdraw the National Tax Reforms Bill, marking a major challenge to the efforts…….CONTINUE READING

led by the Taiwo Oyedele-led Presidential Fiscal Policy and Tax Reforms Committee.

During Thursday’s National Economic Council (NEC) meeting — Nigeria’s top economic advisory body — the governors urged President Tinubu to pull the bill from the National Assembly to allow for broader consultations. This was disclosed by Oyo State Governor Seyi Makinde, following the 144th council meeting, chaired by Vice President Kashim Shettima at the State House in Abuja.

Makinde explained that council members agreed on the need to foster consensus and public understanding of the proposed tax reforms. Despite a detailed presentation by Oyedele, the governors remained unconvinced about Tinubu’s taxation overhaul aimed at driving economic growth and raising Nigeria’s tax-to-GDP ratio.

“NEC received a presentation from the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, focusing on fair taxation, responsible borrowing, and sustainable spending,” Makinde said. After thorough discussion, the council recognized the need for more alignment among stakeholders on the reforms.

Thus, the NEC recommended withdrawing the bill from the National Assembly for wider consultation to address miscommunication and build public consensus on the reforms’ direction.

The Tinubu administration recently proposed the bill to simplify Nigeria’s tax system, establish a unified revenue service, and ease financial obligations for both businesses and citizens. Following a month-long review by the Oyedele committee, which was formed in August 2023, four executive bills were drafted. Among them is the Nigeria Tax Bill, aimed at reducing multiple taxation and making the economy more business-friendly, along with the Nigeria Tax Administration Bill, which proposes a new framework for tax administration across the country.