BREAKING: NEC recommends withdrawal of proposed tax reform bill from National Assembly

By Kunle Sanni

The National Economic Council (NEC) has recommended the immediate withdrawal of the proposed tax reform bill currently before the National Assembly.

Governor Seyi Makinde of Oyo State announced the decision on Thursday following the NEC meeting held at the Presidential Villa in Abuja. “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill,” he stated.

Makinde explained that the decision aims to benefit the entire country and stressed the need for further consultations on the bill. “We identified gaps and decided that wider consultation is necessary,” he added.

The bill has sparked concerns, particularly from the Northern Governors’ Forum, led by Governor Inuwa Yahaya of Gombe State, who expressed reservations about the proposal at an October 28, 2024, meeting. Traditional leaders from the region, including the Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar III, also attended the meeting.

More details to follow.