Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Customs Intercept Containers Of Codeine, Tramadol Worth N20.5bn At Onne Ports
    • Petrol Tanker Explodes In Ibadan
    • Ex-Kogi Senator, Dino Melaye Makes First Court Appearance As Lawyer
    • The Constitution Debate: Same Old Wine In New Bottles – By Jonathan Nda-Isaiah
    • WAFCON: Nigeria Trounce Zambia 5-0, Soar Into Semi-Final
    • Manchester United Agree £65m Deal To Sign Brentford’s Mbeumo
    • Palestinian Child Shot Dead In West Bank By Israeli Forces Amid Land Grabs
    • Brazil’s Supreme Court Says Ex-President, Bolsonaro Must Wear Monitoring Device
    Facebook X (Twitter) Instagram
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    • HOME
    • NEWS

      Customs Intercept Containers Of Codeine, Tramadol Worth N20.5bn At Onne Ports

      July 19, 2025

      Petrol Tanker Explodes In Ibadan

      July 19, 2025

      Ex-Kogi Senator, Dino Melaye Makes First Court Appearance As Lawyer

      July 19, 2025

      ‘I Cannot Guarantee Your Safety’, Edo Governor Warns Peter Obi Over Unannounced Visits

      July 18, 2025

      In Kano, Tinubu Mourns Dantata, Hails His Integrity, Lifelong Philanthropy

      July 18, 2025
    • COLUMN

      The Constitution Debate: Same Old Wine In New Bottles – By Jonathan Nda-Isaiah

      July 19, 2025

      Musings On Muhammadu Buhari – By Azu Ishiekwene

      July 17, 2025

      Today, We Give Way To Our Readers To React – By Dr Hassan Gimba

      July 14, 2025

      Is The World Shutting Its Door To Nigeria? – By Dr Dakuku Peterside

      July 14, 2025

      The Salvo From Boss Mustapha – By Kazeem Akintunde

      July 14, 2025
    • EDUCATION

      13 Countries Offering Free Or Low-Cost PhD Programmes For Non-Citizens

      January 25, 2025

      NECO: Abia, Imo Top Performing States In Two Years, Katsina, Zamfara Come Last

      October 3, 2024

      NBTE Accredits 17 Programmes At Federal Polytechnic Kabo

      August 20, 2024

      15 Most Expensive Universities In Nigeria

      May 19, 2024

      FULL LIST: Tinubu Appoints Former SGF Yayale, Ex-Governor Yuguda, Muhammad Abacha, Jega In Universities’ Governing Councils

      May 18, 2024
    • INTERNATIONAL

      Palestinian Child Shot Dead In West Bank By Israeli Forces Amid Land Grabs

      July 19, 2025

      Brazil’s Supreme Court Says Ex-President, Bolsonaro Must Wear Monitoring Device

      July 19, 2025

      Israel Kills Three In Gaza Catholic Church Sheltering Elderly, Children

      July 17, 2025

      Iraq Shopping Mall Fire Kills Over 60 Persons, Mostly Women, Children

      July 17, 2025

      Three Killed As Israel Bombs Syrian Defence Ministry, Near Presidential Palace

      July 16, 2025
    • JUDICIARY

      FULL LIST: Judicial Council Recommends Appointment Of 11 Supreme Court Justices

      December 6, 2023

      Supreme Court: Judicial Council Screens 22 Nominees, Candidates Face DSS, Others

      November 29, 2023

      FULL LIST: Judicial Commission Nominates 22 Justices For Elevation To Supreme Court

      November 16, 2023

      Seven Key Issues Resolved By Seven Supreme Court Judges

      October 26, 2023

      FULL LIST: CJN To Swear In Falana’s Wife, 57 Others As SANs November 27

      October 12, 2023
    • POLITICS

      What Peter Obi May Lose If He Joins Coalition As VP Candidate

      May 25, 2025

      Atiku Moves To Unseat Wike’s Damagum As PDP Chairman, Backs Suswam As Replacement

      April 15, 2024

      Edo’s Senator Matthew Uroghide, Others Defect To APC

      April 13, 2024

      Finally, Wike Opens Up On Rift With Peter Odili

      April 2, 2024

      El-Rufa’i’s Debt Burden: APC Suspends Women Leader For Criticising Kaduna Gov

      March 31, 2024
    • SPORTS

      WAFCON: Nigeria Trounce Zambia 5-0, Soar Into Semi-Final

      July 19, 2025

      Manchester United Agree £65m Deal To Sign Brentford’s Mbeumo

      July 19, 2025

      Liverpool Close In On Bundesliga Star, Ekitike In £70m-Plus Deal

      July 17, 2025

      Super Falcons, Zambia Clash Friday In WAFCON Quarter-Final

      July 16, 2025

      Real Madrid’s Bellingham To Miss 12 Weeks After Shoulder Surgery

      July 16, 2025
    • MORE
      • AFRICA
      • ANALYSIS
      • BUSINESS
      • ENTERTAINMENT
      • FEATURED
      • LENS SPEAK
      • INFO – TECH
      • INTERVIEW
      • NIGERIA DECIDES
      • OPINION
      • Personality Profile
      • Picture of the month
      • Science
      • Special Project
      • Videos
      • Weekend Sports
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    Home - National Economic Council Calls For Withdrawal Of Tax Reform Bill

    National Economic Council Calls For Withdrawal Of Tax Reform Bill

    By Farouk AbbasOctober 31, 2024
    FEC 2

    THE National Economic Council (NEC) has expressed reservations over the Tax Reform Bill forwarded by President Bola Tinubu to the National Assembly.

    The bill was forwarded to NASS based on the report and recommendations of the Presidential Committee on Fiscal and Tax Reforms set up by the President to help boost revenue generation in the country.

    NEC unanimously called for the withdrawal of the bill.

    UBA

    This was part of the resolutions reached during the National Economic Council meeting chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja.

    Briefing State House Correspondents after the meeting, the governors noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.

    WIDGET ADS

    Governor Seyi Makinde of Oyo State who briefed journalists said NEC observed that adequate consultations needed to be made to get the views of stakeholders including the state governors to ensure that the law is favourable to all Nigerians.

    “NEC today took a presentation from the Chairman of the Presidential Committee on fiscal policy and tax reforms. Their main focus is fair taxation, responsible borrowing, and sustainable spending,” he said.

    Thomas Sankara African Leadership Prize

    “The Council acknowledged that the country is underperforming on all indices as regards yield from major revenue sources, also tax to GDP ratio and so on.

    “So after extensive deliberation, NEC noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.

    Nigerian TAX Reform - Federal Goverment

    “So Council, therefore, recommend the need to withdraw the bill currently before the National Assembly on tax reforms so that we can have wider consultations and also build consensus around these reforms for the benefit of the entire country, and also to give people, for them to know the vision and where we are moving the country in terms of a tax reform because there’s really a lot of miscommunication, misinformation,” Governor Makinde said.

    The move came days after the influential Northern Governors’ Forum rejected some of the proposals, particularly the VAT-sharing template in one of the bills.

    The northern governors reached this resolution after a meeting in Kaduna, demanding equity and fairness.

    National Orientation Agency Page UP
    National Orientation Agency - Down

    “This is because companies remit VAT based on the location of their headquarters and tax office, rather than where the services and goods are consumed. In view of the foregoing, the forum unanimously rejects the proposed Tax Amendments and calls on members of the National Assembly to oppose any bill that could jeopardise the well-being of our people,” said Inuwa Yahaya, who also serves as the chairperson of the forum.

    “For the avoidance of doubt, the Northern Governors’ Forum is not opposed to policies or programs aimed at fostering national growth and development. However, the forum calls for equity and fairness in implementing all national policies and programs to ensure that no geopolitical zone is short-changed or marginalised,” he said.

    The governors in attendance were Uba Sani of Kaduna State, Inuwa Yahaya of Gombe, Dauda Lawal Dare of Zamfara, Abdullahi Sule of Nasarawa, Babagana Zulum of Borno, Bala Mohammed of Bauchi, AbdulRahman AbdulRazaq of Kwara, and Ahmadu Umaru Fintiri of Adamawa. Other governors were represented by their deputy governors.

    Governor Yahaya of Gombe State, while reading the communiqué from the meeting, said the tax bills are against the interests of the North and instructed northern lawmakers to reject the bills.

    NEC Tax Reform Tinubu
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email

    Related Posts

    Customs Intercept Containers Of Codeine, Tramadol Worth N20.5bn At Onne Ports

    July 19, 2025

    Petrol Tanker Explodes In Ibadan

    July 19, 2025

    Ex-Kogi Senator, Dino Melaye Makes First Court Appearance As Lawyer

    July 19, 2025

    ‘I Cannot Guarantee Your Safety’, Edo Governor Warns Peter Obi Over Unannounced Visits

    July 18, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Latest Posts

    Customs Intercept Containers Of Codeine, Tramadol Worth N20.5bn At Onne Ports

    July 19, 2025

    Petrol Tanker Explodes In Ibadan

    July 19, 2025

    Ex-Kogi Senator, Dino Melaye Makes First Court Appearance As Lawyer

    July 19, 2025

    The Constitution Debate: Same Old Wine In New Bottles – By Jonathan Nda-Isaiah

    July 19, 2025

    WAFCON: Nigeria Trounce Zambia 5-0, Soar Into Semi-Final

    July 19, 2025
    Advertisement
    WIDGET ADS
    News Point NG
    © 2025 NEWS POINT NIGERIA Developed by ENGRMKS & CO.
    • Home
    • About us
    • Disclaimer
    • Our Advert Rates
    • Privacy Policy
    • Terms of Use

    Type above and press Enter to search. Press Esc to cancel.

    Join Us On WhatsApp