President Bola Tinubu has acknowledged the National Economic Council’s recommendation to revisit the tax reform bills currently before the National Assembly but has opted to proceed with the legislative review process as planned. The President expressed appreciation to NEC members, particularly Vice President Kashim Shettima and the 36 State Governors, for their advisory role.
President Tinubu believes that the established legislative channels allow for public input and necessary revisions without withdrawing the bills. He encouraged further stakeholder engagement during National Assembly deliberations to address any concerns.
The tax reform initiative, led by the Presidential Committee on Tax and Fiscal Policy Reform since August 2023, aims to streamline Nigeria’s tax administration, boost productivity, and enhance the business climate. Key aspects of the bills include consolidating multiple taxes, creating a unified tax administration framework, and establishing the Nigeria Revenue Service and a Joint Revenue Board for integrated federal and state tax coordination.
The President reaffirmed his commitment to supporting NEC recommendations and called for a focused legislative review to foster economic growth through improved tax management.
