Abuja, Nov. 1, 2024 – President Bola Tinubu has rejected the recommendation of the National Economic Council (NEC) to withdraw the controversial Tax Reform Bill from the National Assembly.
Tinubu had transmitted the bill to the National Assembly for consideration and passage on Sept. 3, 2024.
However, the bill has been generating controversies since its submission to the Assembly because of its provision which prescribes that proceeds from Value Added Tax (VAT) be shared among the federating states on the basis of derivation.
The Northern State Government Forum was particularly irked by the provision and took the matter to the NEC.
NEC, at its meeting on Thursday, Oct. 31, 2024, considered the position of the Northern state governors and recommended that the president should withdraw the bill from the Assembly for further consultations.
In his response, Tinubu rejected NEC’s recommendation to withdraw the bill from the assembly. He insists that NEC should to allow the bill to run its full course in the legislative house.
The president’s response is contained in a statement issued on Friday by Bayo Onanuga, the Senior Special Adviser to the President on Information and Strategy.
The statement reads: “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the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.
“President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice. He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.
“While urging the NEC to allow the process to take its full course, President Tinubu welcomes further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage.” (GBN)
