Months after denial, Taiwo Oyedele finally admits errors in new tax laws
MINOyedele, has clarified the policy intent behind Nigeria’s newly gazetted tax laws, following concerns raised by KPMG Nigeria, insisting that most issues highlighted by the firm were misunderstandings of policy objectives or disagreements with deliberate reform choices.
In a statement issued on Saturday, Oyedele said while some points raised by KPMG were useful, the bulk of the report mischaracterised the objectives and structure of the new tax framework.
“We welcome all perspectives that contribute to a shared understanding and successful implementation of the new tax laws,” the statement said, noting that “a few points raised by KPMG are useful, particularly where they relate to implementation risks and clerical or cross-referencing issues.”
However, the committee emphasised that “the majority of the publication reflected a misunderstanding of the policy intent, a mischaracterisation of deliberate policy choices, and, in several instances, repetitions and presentation of opinion and preferences as facts.”ISTER of State for Finance, Taiwo Oyedele, has acknowledged flaws in Nigeria’s newly introduced tax reform laws, stating that steps are already being taken to correct the identified issues.
READ ALSO: KPMG identifies numerous errors in new tax laws, calls for urgent review
He made this known during a fireside chat at the 2026 annual conference of the Nigerian Bar Association Section on Legal Practice, themed ‘From Policy to Practice: Making Sense of Nigeria’s New Tax Reforms.’
According to a statement issued by the Fiscal Reforms Committee, Mr Oyedele admitted that inconsistencies arose during the drafting and legislative stages, largely due to procedural lapses.
He called on Nigerians to await the outcome of an ongoing legislative probe into the discrepancies, while reiterating that the errors stemmed from manual processes and multiple layers of review involved in producing the final laws.
Despite the issues, the minister assured that the gaps would be addressed through a proposed Finance Bill designed to correct the anomalies.
Oyedele also advocated for a more transparent legislative system, stressing the need for public access to all versions of a law throughout the drafting process.
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He maintained that implementation of the tax reforms would not be arbitrary, noting that the framework is built on principles of fairness, transparency, and clear policy intent.
The minister further urged stakeholders to focus on the rationale behind tax policies rather than just their wording, arguing that understanding intent is key to proper interpretation and execution.
Highlighting past challenges, Oyedele pointed to inconsistencies in Nigeria’s previous tax structure, particularly the imbalance between personal and corporate taxation, which he said discouraged businesses from formalising.
READ ALSO: Investigation confirms executive altered tax reform laws – Reps minority caucus
He explained that the new reforms aim to promote business formalisation, ensure policy consistency, and reduce discretionary practices in tax administration.
Reflecting on earlier policy reversals, Oyedele warned that abrupt changes undermine investor confidence, emphasising that stability remains crucial for economic growth.
On tax equity, he noted that the reforms are structured to protect low-income earners and small businesses, stressing that individuals earning around N1 million annually should not face excessive tax burdens.
He added that the reforms eliminate minimum tax obligations for loss-making businesses, describing the previous approach as one that effectively taxed capital instead of profit.
Oyedele also called for greater efficiency in revenue utilisation, noting that Nigeria still trails countries like South Africa in tax collection performance.
The development follows concerns over discrepancies between the gazetted versions of the tax laws and those passed by the National Assembly.
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Context
In December 2025, a member of the House of Representatives, Mr Abdussamad Dasuki, had alleged that there were discrepancies between the tax reform law passed by the National Assembly and the gazetted copy available to the public.
Dasuki, who represents Kebbe/Tambuwal federal constituency of Sokoto, raised a point of privilege on the floor of the lower legislative chamber during Wednesday’s plenary.
“What was passed on the floor is not what is gazetted. Mr speaker, honourable colleagues, I was here, I gave my vote, and it was counted, and I am seeing something completely different,” he said.
READ ALSO: Nigeria has moved from padded budgets to forged tax laws – Peter Obi
The lawmaker said he obtained copies of the gazetted law from the Ministry of Information and found that they were different from the copies harmonised and approved by the House, while calling on Speaker, Mr Tajudeen Abbas, to critically examine what was passed by the legislators and what was gazetted by the government.
“This is a breach of the constitution and a breach of our laws, and it should not be taken lightly by this honourable house,” he said, warning that the discrepancy was a constitutional breach and urged the House to treat the matter with urgency.
Similarly, KPMG, a global professional services firm, also raised concerns over what it described as numerous errors, inconsistencies, omissions and grey areas in Nigeria’s new tax laws, warning that these flaws could undermine the laws’ stated objectives unless urgently reviewed.
In a newsletter released after examining the New Tax Act (NTA), 2025, the firm highlighted several provisions requiring amendments to improve clarity, coherence and effectiveness.
Denials
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However, speaking on Channels Television’s Morning Brief on December 22, 2025, Oyedele dismissed the claim by the legislator as false. “Before you can say there is a difference between what was gazetted and what was passed, we have what has not been gazetted. We don’t have what was passed,” Oyedele said.
The official harmonised bills certified by the clerk, which the National Assembly sent to the President, we don’t have a copy to compare. Only the lawmakers can say authoritatively what was sent.
READ ALSO: Nigeria’s new revenue boss dismisses claims of altered tax reform laws
Similarly, Oyedele also tackled KPMG, which had exposed several in the new tax laws. He noted that the policy intent behind Nigeria’s newly gazetted tax laws, following concerns raised by KPMG Nigeria, insisting that most issues highlighted by the firm were misunderstandings of policy objectives or disagreements with deliberate reform choices.
Oyedele said while some points raised by KPMG were useful, the bulk of the report mischaracterised the objectives and structure of the new tax framework.
“We welcome all perspectives that contribute to a shared understanding and successful implementation of the new tax laws,” the statement said, noting that “a few points raised by KPMG are useful, particularly where they relate to implementation risks and clerical or cross-referencing issues.”
He emphasised that the majority of the publication reflected a misunderstanding of the policy intent, “”a mischaracterisation of deliberate policy choices, and, in several instances, repetitions and presentation of opinion and preferences as facts.”
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Stella Odiche
Researcher-Reporter
Lagos, Nigeria
Stella Odiche is a researcher and reporter. She lives in Lagos and reports topics such as aviation, oil and gas, banking and general business. She is award-winning journalist and wideliy travelled researcher.
