President Tinubu rejects NEC’s advice to withdraw the tax reform bills, moves to replace FIRS

President Bola Ahmed Tinubu has said the tax reform bills will not be withdrawn from the national assembly as recommended by the national economic council (NEC).

During the 144th NEC meeting led by Vice President Kashim Shettima, the council advised that the bills be retracted.

This recommendation followed a meeting in Kaduna where governors from the 19 northern states and key traditional leaders from the region decided to reject the Nigeria Tax Reform Bill, among other issues.

On 3rd of October, 2024, Tinubu asked the national assembly to consider and pass four tax reform bills. The bills include the Nigeria tax bill, the tax administration bill, and the joint revenue board establishment bill.

Tinubu is also seeking to repeal the law establishing the Federal Inland Revenue Service (FIRS) and replace it with the Nigeria Revenue Service.

In a statement on Friday, Bayo Onanuga, special adviser to the president on information and strategy, said Tinubu received NEC’s recommendation, however, the president said the legislative process should continue.

“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. [CONTINUE READING HERE]>>>>