Nigeria's Finance Minister Announces 134 Tax Reform Submissions

The Federal Government of Nigeria has initiated the next phase of its fiscal and tax reforms, receiving 134 submissions from stakeholders across the country. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced this on Thursday in Abuja during the inauguration of the Technical Subcommittee on Fiscal Policy and Tax Reforms under the Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC).

These submissions will inform the preparation of the Finance Bill 2027, revised Withholding Tax Regulations 2027, and an amended Significant Economic Presence (SEP) Order 2027. Oyedele emphasized that the reform process, which began with the establishment of the PFPTRC by President Bola Ahmed Tinubu in July 2023, is ongoing and aims to improve implementation based on lessons learned.

The first phase resulted in four significant laws effective January 1, 2026. Stakeholders have raised issues regarding tax law provisions, multiple taxation, and the need for improved coordination among revenue authorities.