Disclosing this to journalists at the end of the 145th NEC meeting at the State House, Abuja, the Oyo Governor Seyi Makinde said this formed part of resolutions reached at the meeting.
Makinde said Council members agreed that it was necessary to allow for consensus building and understanding, as such there should be further consultations regarding the bill.
Makinde added that the withdrawal of the bill will be for the benefit of the country.
“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.
“The Council acknowledged that the country is underperforming on all indices as regards yields 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.
“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 tax reform, because there’s really a lot of miscommunication, misinformation.
“So, the bill will be withdrawn from the National Assembly and then there will be consultations afterwards,” he said.
NEC’s decision is coming days after the Northern Governors kicked against some provisions in the bill, saying it was not in the interest of the region.
Specifically, the Northern Governors’ Forum rejected the new derivation-based model for Value-Added Tax distribution in the new tax reform bill.
Meanwhile, the Council has approved a new programme for displaced persons tagged “Solutions for Internally Displaced and Host Communities”, presented by Hajara Ahmed, project coordinator for a World Bank-supported initiative.
The Minister of Budget and Economic Planning, Atiku Bagudu, who also briefed newsmen, said the initiative aims to address the long-term needs of internally displaced persons by improving access to basic services and economic opportunities.
The programme will involve investment in resilient infrastructure and support for host communities to foster sustainable livelihoods.
States are expected to appoint focal persons to facilitate communication with the Federal Ministry of Budget and Economic Planning, which will oversee project implementation alongside the North East Development Commission.
He said the first major goal of the programme is investment in resilient infrastructure.
