By Hopejane Uzor
Nigeria’s Minister of State for Finance, Taiwo Oyedele, has acknowledged errors in the country’s newly introduced tax reform laws, stating that steps are already underway to correct them.
Speaking at the 2026 Nigerian Bar Association conference, Oyedele explained that the inconsistencies identified in the laws arose during the drafting process, citing manual procedures and multiple review stages as key factors.
“Errors occurred due to manual processes and multiple stages of review,” he said, while assuring stakeholders that corrective provisions are being incorporated into a proposed finance bill currently in the works.
The minister emphasized the need for a more transparent legislative framework, noting that all versions of proposed laws should be made publicly accessible to enhance accountability and trust.
“What we need is a more transparent and reliable legislative process where every version of a law is publicly available,” Oyedele added.
He further reassured Nigerians that the implementation of the tax reforms would not be unjust, stressing that the policies are grounded in transparency, fairness, and clear intent.
According to him, the focus should be on the broader objectives of the reforms rather than isolated wording issues.
Highlighting the socio-economic realities of the country, Oyedele noted that nearly half of Nigeria’s working population earns below ₦70,000 monthly, warning that aggressive taxation of such income groups would be inequitable.
The minister also pointed out that the new tax system is structured to support low-income earners and small businesses.
The development follows earlier concerns raised by lawmakers over discrepancies between the version of the tax laws passed by the National Assembly and the one eventually published. Authorities maintain that the ongoing corrections will improve clarity, fairness, and public confidence in Nigeria’s tax system.
