The Minister of State for Finance, Taiwo Oyedele, has admitted that Nigeria’s newly introduced tax reform laws contain errors, while assuring that efforts are already in progress to correct the identified issues.
Oyedele made this disclosure during a fireside chat at the 2026 annual conference of the Nigerian Bar Association Section on Legal Practice.
The event, themed “From Policy to Practice: Making Sense of Nigeria’s New Tax Reforms,” centred on addressing concerns and improving understanding of the country’s evolving tax system.
His comments follow growing controversy over inconsistencies in the tax laws. On December 17, 2025, Abdussamad Dasuki, a member of the House of Representatives, raised concerns that the versions of the tax laws available to the public differed from those passed by the National Assembly. The allegation led the lower chamber to establish a seven-member panel to investigate the discrepancies.
Responding to the issue, Oyedele acknowledged that mistakes occurred during the legislative process. According to a statement by the fiscal reforms committee, he admitted “that errors occurred due to manual processes and multiple stages of review” involved in drafting and finalising the laws.
Despite the lapses, the minister reassured stakeholders that corrective actions are already being implemented through a proposed finance bill aimed at addressing the inconsistencies.
“What we need is a more transparent and reliable legislative process where every version of a law is publicly available,” Oyedele said.
He also moved to calm concerns about how the reforms would be enforced, emphasising that implementation would not be arbitrary. According to him, the new tax system is built on “clear policy intent, transparency, and fairness.”
Oyedele stressed the importance of understanding the broader goals behind tax policies, urging stakeholders to focus not just on the wording of the laws but also on their intended outcomes.
Reflecting on previous challenges, he highlighted long-standing inconsistencies in Nigeria’s tax structure, particularly the imbalance between personal and corporate taxation. He noted that such disparities have discouraged many businesses from formalising their operations.
According to him, the reforms are designed to create a more consistent tax environment, reduce discretionary practices in tax administration, and encourage businesses to operate within the formal economy.
Addressing investor concerns, Oyedele warned against policy instability, noting that sudden changes can undermine confidence. “If policies can change overnight, it sends the wrong signal to investors. Consistency is critical,” he said.
What you should know
Taiwo Oyedele has acknowledged errors in Nigeria’s new tax reform laws, attributing them to manual processes and multiple review stages.
The admission follows allegations that publicly available versions differ from those passed by lawmakers, prompting an investigation by the House of Representatives. Oyedele assured that corrections are underway through a proposed finance bill and emphasised transparency, fairness, and consistency in implementation.
He highlighted structural issues in Nigeria’s tax system and the need to encourage business formalisation.
The reforms aim to improve investor confidence, but concerns remain about policy unpredictability and legislative accuracy in the country’s tax framework.
