ABUJA:The Minister of State for Finance, Taiwo Oyedele, has acknowledged that Nigeria’s newly enacted tax reform laws contain errors, assuring that corrective measures are already being implemented.
Oyedele made the disclosure during a fireside chat at the 2026 Annual Conference of the Nigerian Bar Association (NBA) Section on Legal Practice, where stakeholders examined the implementation of the country’s new tax framework.
The minister said the identified issues were a result of lapses during the drafting and review stages of the legislation, noting that multiple manual processes contributed to inconsistencies.
According to him, efforts are underway to resolve the discrepancies through an upcoming finance bill aimed at correcting the affected provisions.
We need a more transparent and reliable legislative process where every version of a law is publicly available, he said.
His remarks come amid controversy over alleged differences between versions of the tax laws in circulation and those passed by the National Assembly.
The issue was raised in December 2025 by a member of the House of Representatives, Abdussamad Dasuki, prompting the lower chamber to set up a seven-member committee to investigate the matter.
Oyedele, however, urged stakeholders not to panic over the reforms, stressing that implementation would be guided by clarity, fairness, and policy intent rather than arbitrary enforcement.
He explained that the reforms were designed to correct longstanding inefficiencies in Nigeria’s tax system, including inconsistencies between personal and corporate taxation that discourage formal business activity.
The minister also warned against policy unpredictability, noting that unstable fiscal frameworks could undermine investor confidence.
If policies can change overnight, it sends the wrong signal to investors. Consistency is critical,” he said.
He added that the reforms aim to reduce administrative discretion, improve transparency, and encourage broader compliance within the tax system.
Oyedele emphasized that the government remains committed to refining the tax framework to ensure alignment with its original policy objectives.
He confirmed that further adjustments would be made through legislative review mechanisms currently being prepared.
