NEC to Meet Oyedele-Led Tax Reform Committee Over New Tax Regime

The National Economic Council (NEC) has agreed to formally engage the Presidential Fiscal Policy and Tax Reforms Committee, chaired by Taiwo Oyedele, to address concerns arising from the recently enacted tax laws.

The resolution was disclosed in a statement issued on Friday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, following NEC’s first virtual meeting of the year held on Thursday.

The planned engagement comes amid growing public and professional debate over the new tax regime, particularly after global professional services firm KPMG raised concerns about possible gaps, risks and ambiguities in the framework.

According to the statement, NEC’s interface with the Oyedele-led committee is expected to clarify contentious provisions, address identified weaknesses and ensure that the new tax laws support economic growth while improving revenue generation.

The council reaffirmed its commitment to working with relevant stakeholders to strengthen fiscal policy coordination and enhance the effectiveness of ongoing tax reforms across the federation.