Finance Minister admits errors in Nigeria's new tax law, says corrections coming via finance bill
Nigeria's minister of state for finance, Taiwo Oyedele, has admitted that the country's new tax reform laws contain errors due to procedural lapses and manual review processes during drafting. He spoke at the 2026 Nigerian Bar Association annual conference, assuring that corrective measures are already underway through a proposed finance bill aimed at fixing the inconsistencies.
Oyedele emphasized that tax enforcement will not be arbitrary, stressing that the policy is anchored on transparency, fairness, and clear intent. He warned that inconsistent policies send wrong signals to investors, noting that consistency is critical for economic stability. Nigerians should await the outcome of the legislative probe set up by the National Assembly to address the discrepancies first highlighted by Sokoto State representative Abdussamad Dasuki on December 17, 2025.
The new tax laws took effect on January 1, 2026 after being signed on June 26, 2025. Oyedele called for a more transparent legislative process where every version of a law is publicly available to prevent such issues in the future. While admitting the errors, he maintained that the core objectives of the tax reforms remain sound.
Will you review how these tax law corrections might affect your business compliance or personal tax obligations once the finance bill is passed, or do you believe the current inconsistencies warrant pausing enforcement until all issues are resolved?