The Minister of State for Finance, Mr. Taiwo Oyedele, has publicly acknowledged the presence of errors in Nigeria’s recently enacted tax reform legislation.
He made this admission during a fireside chat at the 2026 annual conference of the Nigerian Bar Association Section on Legal Practice, where he responded to stakeholder concerns regarding identified discrepancies in the laws.
Mr. Oyedele explained that the inaccuracies stemmed largely from manual drafting procedures and the multiple layers of review involved in the legislative process.
He confirmed that remedial actions are already in motion, including the development of a finance bill aimed at rectifying the inconsistencies.
He further advocated for enhanced transparency, recommending that all versions of legislative bills be made publicly accessible to avoid similar challenges in future law-making exercises.
Additionally, the minister reassured stakeholders that the implementation of the tax laws would be conducted in a fair, structured, and non-arbitrary manner.
He situated the reforms within the government’s broader objective of correcting longstanding imbalances in the national tax system, such as inequities between personal and corporate tax responsibilities.
This acknowledgment reflects a commitment to refining the framework while sustaining progress toward a more efficient and equitable tax environment.
