Despite opposition from Nigerian states, Nigeria’s President Bola Tinubu’s administration remains committed to pushing through proposed tax reforms, the presidency said in a statement.
The announcement comes after the National Economic Council (NEC), which includes state governors and is chaired by the vice president, recommended withdrawing the tax bills for further consultation. The NEC’s approval is necessary for the bills to be implemented.
“Proposed tax reform bills should go through the legislative process; inputs can be made at public hearings,” the presidency said.
Nigeria’s President statement highlighted the importance of the proposed tax reforms: “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.”
The presidency also stressed the extensive consultations that took place during the development of the bills.
“The presidential committee on tax and fiscal policy reform worked on the bills for over a year and received inputs from various segments of society, including trade associations, professional bodies, different ministries and government agencies, governors, traders, students, business owners, and the organized private sector,” the statement said.
The four new tax bills proposed by the government are aimed at streamlining and modernizing the country’s tax system.
