The Minister of State for Finance, Taiwo Oyedele, has acknowledged shortcomings in Nigeria’s newly introduced tax reform laws, assuring that measures are underway to correct the identified errors.
Oyedele made the disclosure during a fireside chat at the 2026 annual conference of the Nigerian Bar Association Section on Legal Practice, where stakeholders examined the country’s evolving tax framework.
The conference, themed “From Policy to Practice: Making Sense of Nigeria’s New Tax Reforms,” focused on addressing concerns surrounding the implementation and interpretation of the new laws.
The minister’s admission follows earlier allegations by Abdussamad Dasuki, a member of the House of Representatives, who claimed that discrepancies existed between the versions of the tax laws passed by the National Assembly and those made available to the public.
The claim had prompted the lower chamber to constitute a panel to investigate the matter.
Responding to the concerns, Oyedele attributed the inconsistencies to lapses arising from manual processes and multiple review stages involved in drafting and finalising the legislation.
He, however, assured that the issues were being addressed through a proposed finance bill aimed at correcting the anomalies.
The minister emphasised the need for a more transparent legislative process, noting that all versions of laws should be accessible to the public to prevent confusion.
He also sought to reassure stakeholders on the implementation of the reforms, stating that enforcement would be guided by clear policy objectives, fairness, and transparency.
According to him, a proper understanding of the intent behind tax policies is essential, urging stakeholders to look beyond the literal provisions of the laws.
Oyedele further highlighted longstanding structural challenges in Nigeria’s tax system, including imbalances between personal and corporate taxation, which he said had discouraged business formalisation.
He noted that the reforms are designed to promote consistency, reduce administrative discretion, and create a more predictable environment for businesses.
The minister warned that policy inconsistency could undermine investor confidence, stressing that stability remains critical to attracting and retaining investment.
