Oyedele Proposes Finance Bill to Fix Tax Law Errors

Taiwo Oyedele, the Minister of State for Finance and Chairman of the Presidential Fiscal Policy Tax Reform Committee, admitted the existence of errors in Nigeria's new tax law. He proposed a finance bill aimed at addressing identified gaps in the legislation during his speech at the 2026 annual conference of the Nigerian Bar Association.

Oyedele emphasized the importance of transparency, fairness, and clarity in tax policy, advocating for a non-arbitrary enforcement approach. He noted that a review of the tax law by House of Representatives member Abdulsammad Dasuki revealed significant discrepancies, leading to a debate on harmonizing the approval process between the House and the Senate.

The proposed reforms are part of a broader tax reform package recently passed by the National Assembly. Oyedele highlighted key features of the new tax framework, which aims to create a more equitable and business-friendly tax environment, with the goal of improving tax administration and compliance by June 2025 under President Bola Ahmed Tinubu's administration.