The National Economic Council, NEC on Thursday asked the federal government to withdraw the current Tax Reform Bill from the National Assembly in order to allow for more comprehensive consultation and consensus-building among key stakeholders.

Briefing State House Correspondents after NEC meeting presided over by Vice President Kashim Shettima in Abuja, Governor Seyi Makinde of Oyo State said a presentation was made by the Chairman of the Presidential Committee on fiscal policy and tax reforms, with emphasis on fair taxation, responsible borrowing and sustainable spending.

Council acknowledged that the country is underperforming on all indices as regards yields from major revenue sources, however, it resolved that the Executive arm of government should withdraw the Tax bill to allow for wider consultations and to address misconceptions.

Our correspondent, Raliat Adenekan reports that the NEC also directed the Ministry of Water Resources and Sanitation to commence a comprehensive integrity review of the state of Nigeria’s waterways and dams in a step to mitigate the ravaging impact of flooding. 

NEC also reviewed the World Bank-supported SOLID project, presented by the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, urging cooperation among states and the World Bank to ensure funds meet designated project goals.