Finance Minister Admits Errors in Nigeria’s Tax Reform Laws, Promises Urgent Fix

|By Babatunji Wusu

Nigeria’s Minister of State for Finance, Taiwo Oyedele, has admitted that the country’s newly implemented tax reform laws contain errors, sparking renewed scrutiny over the legislative process behind the policy.

Speaking at the 2026 annual conference of the Nigerian Bar Association (NBA), Oyedele acknowledged that inconsistencies crept into the laws due to procedural lapses during drafting and review stages.

In a statement released by the Presidential Fiscal and Tax Reforms Committee, the minister revealed that the errors stemmed from manual processes and multiple layers of legislative handling.

“That errors occurred due to manual processes and multiple stages of review,” Oyedele admitted.

Despite the revelation, he assured Nigerians that corrective steps are already in motion, noting that a proposed finance bill will address the discrepancies and restore clarity to the legal framework.

He also called for greater transparency in lawmaking, insisting that every version of a bill should be publicly accessible to prevent confusion and build trust.

“What we need is a more transparent and reliable legislative process where every version of a law is publicly available,” he said.

Oyedele further stressed that enforcement of the tax reforms would remain fair and predictable, warning that policy instability could damage investor confidence.

“If policies can change overnight, it sends the wrong signal to investors. Consistency is critical,” he added.

The admission comes months after Abdussamad Dasuki, a member of the House of Representatives from Sokoto State, raised concerns that the versions of the tax laws in circulation differed from what lawmakers actually passed.

His claim triggered widespread confusion and prompted the National Assembly of Nigeria to set up a committee to investigate the discrepancies.

The controversial tax laws, which were signed into law in June 2025, officially took effect on January 1, 2026, and have since remained a focal point of public debate over transparency and accountability in governance.