Tinubu rules out withdrawal of tax reform bills

President Bola Tinubu said on Friday the tax reform bills currently with the National Assembly would not be withdrawn.

The National Economic Council (NEC) on Thursday called for the withdrawal of the bill for further consultations.

The President in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, however, urged that the legislative process be allowed to take its course.

He said the legislative process which had already begun provided an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.

Tinubu welcomed further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considered them for passage.

The statement read: “When President Tinubu set up the Presidential Committee on Tax and Fiscal Policy Reform in August 2023, he had only one objective.

READ ALSO: Tinubu seeks Reps’ approval for four tax reform bills

“This is to reposition the economy for better productivity and efficiency and make the operating environment for investment and businesses more conducive.

“This objective remains more critical even today than ever before.”

“The committee worked for over a year and received inputs from various segments of society across the geopolitical zones.

“Inputs were received from trade associations, professional bodies, various MDAs, governors, traders, students, business owners, and the organised private sector.

“The tax reform bills that emerged were distilled from the extensive work of the Presidential Committee.

“The tax bills before the National Assembly aim to streamline Nigeria’s tax administration processes, completely overhaul the nation’s tax operations, and align them with global best practices.”

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