The National Economic Council (NEC) has advised withdrawing the Finance Bill 2023 from the National Assembly to allow for broader discussions and consultations. This recommendation is part of a collaborative effort by the Nigerian government to re-evaluate and refine the proposed tax reforms that have raised concerns among various stakeholders, including businesses, investors, and the public.
The aim is to gather more input to ensure the bill aligns better with the country’s economic needs while addressing the apprehensions about its potential impact on Nigerians.
This decision reflects a shift towards a more inclusive legislative process, prioritizing wider consultations before implementing new tax policies.
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