…Says ‘correction under way’
Minister of State for Finance, Taiwo Oyedele, has admitted that Nigeria’s new tax reform laws contain errors and confirmed that a corrective Finance Bill is being prepared.
Speaking at the 2026 conference of the Nigerian Bar Association Section on Legal Practice, Oyedele said the issues were caused by “manual processes and multiple review stages”.
He acknowledged discrepancies between the versions passed by the 10th National Assembly and the gazetted laws. “What we need is a more transparent and reliable legislative process where every version of a law is publicly available,” he said. He also stated that enforcement “will not be arbitrary”.
The admission follows earlier concerns raised by KPMG, which identified inconsistencies, gaps, and omissions in the laws, concerns that were previously dismissed.
The tax reforms, signed into law in 2025 and implemented from January 2026, are now under scrutiny as stakeholders demand clarity and corrections.
Professional bodies, including the Nigerian Bar Association (NBA), alongside businesses and many concerned Nigerians, continue to call for accountability and, in many cases, a temporary pause in implementation until all discrepancies are resolved.
