In a recent development, Nigerian governors have asked President Bola Tinubu to withdraw the Tax Reform Bill from the National Assembly. This request, led by the Nigerian Governors Forum (NGF), aims to create more time for consultation and understanding among Nigerians before any major changes in tax policies are made.

The appeal was made during the 144th National Economic Council (NEC) meeting held at the State House in Abuja. Oyo State Governor Seyi Makinde shared that the NEC members collectively agreed on the need to build consensus on the bill to ensure it aligns with the interests of all stakeholders. According to Makinde, the governors believe that a thorough consultation will lead to a tax reform policy that everyone understands and supports.

Recently, President Tinubu presided over a Federal Executive Council meeting where the government endorsed a series of tax reforms. These reforms are intended to make Nigeria’s tax administration more efficient and reduce redundant processes. However, while the Federal Government is pushing for modernization, some groups, especially from northern Nigeria, have shown reservations about these reforms.

The tax reform effort began in August 2023, with a review of existing laws to help make Nigeria’s tax system more streamlined and effective. The proposed reforms could be a significant step in Nigeria’s economic development if designed to work with the input of all stakeholders.

As the government works to finalize these policies, governors are emphasizing the importance of careful planning and collaboration with Nigerians, hoping this will result in a tax system that benefits the entire nation.