Nigeria's Finance Minister Launches Tax Reform Review for 2027
The Federal Government of Nigeria has commenced preparations for the 2027 budget by forming a subcommittee to review fiscal and tax policies and draft a new Finance Bill. The Subcommittee on Fiscal Policy and Tax Reforms was inaugurated in Abuja by Finance Minister and Coordinating Minister Taiwo Oyedele.
The committee is chaired by Permanent Secretary Raymond Omachi, with Albert Folorunsho as Co-Chair. The Finance Bill is essential for establishing the legal framework for the government's tax and fiscal measures for the upcoming year.
Oyedele emphasized that the 2027 Finance Bill should build on the 2025 reforms rather than overhaul them, focusing on areas that have caused confusion or unintended consequences. The committee has six weeks to complete its review and submit recommendations.
Oyedele noted that the government's public call for input had already received over 134 online memoranda and various hard-copy submissions from stakeholders, indicating significant public interest in shaping fiscal policy.
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