• Minister of State for Finance Taiwo Oyedele has openly acknowledged that Nigeria’s newly introduced tax reform laws contain noticeable errors
• The minister explained that the errors were not deliberate but resulted from the complexity of the legislative process
• Oyedele revealed that corrective measures are already underway and will be implemented through a proposed finance bill

The Minister of State for Finance, Taiwo Oyedele, has admitted that Nigeria’s newly introduced tax reform laws contain errors, assuring stakeholders that the government is already taking steps to correct them.

Oyedele made the disclosure during a fireside chat at the 2026 annual conference of the Nigerian Bar Association (NBA) Section on Legal Practice.

The conference, themed “From Policy to Practice: Making Sense of Nigeria’s New Tax Reforms,” was aimed at addressing concerns and improving understanding of the country’s evolving tax system.

His comments follow growing controversy over inconsistencies in the tax laws.

On December 17, 2025, Abdussamad Dasuki, a member of the House of Representatives, alleged that the versions of the tax laws available to the public differed from those passed by the National Assembly.

The allegation prompted lawmakers to establish a seven-member panel to investigate the discrepancies.

Responding to the concerns, Oyedele acknowledged that lapses occurred during the legislative process.

According to a statement from the fiscal reforms committee, he noted “that errors occurred due to manual processes and multiple stages of review” involved in drafting and finalising the laws.

Despite the challenges, the minister reassured stakeholders that corrective measures are already underway and will be addressed through a proposed finance bill.

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

He also moved to calm fears surrounding the implementation of the reforms, stressing that enforcement would not be arbitrary.

According to him, the new tax framework is built on “clear policy intent, transparency, and fairness.”

Oyedele further emphasised the importance of understanding the broader goals behind tax policies, urging stakeholders to look beyond the text of the laws.

Reflecting on longstanding issues, he highlighted inconsistencies within Nigeria’s tax system, particularly the imbalance between personal and corporate taxation, which he said has discouraged business formalisation.

He added that the reforms are designed to promote consistency, reduce discretion in tax administration, and encourage businesses to operate within the formal economy.

On investor confidence, Oyedele warned against policy instability, stating, “If policies can change overnight, it sends the wrong signal to investors. Consistency is critical.”

VAT removed on land, buildings, rent, says Oyedele

Meanwhile, TheRadar earlier reported that the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, confirmed that land, buildings, and rent are now fully exempt from Value Added Tax (VAT) under the Nigeria Tax Act 2025.

Oyedele explained that the new law, which has already commenced, aims to reduce housing costs, encourage real estate investment, and provide relief for tenants and small businesses nationwide.